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    Property profile & analytics

    15871 City View Dr Midlothian, VA 23113

    • Office buildings
    • 19,946 SF
    • 3.78 lot acres
    For Lease
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US87-0911447
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • White & McCarthy, LLP, now ThompsonMcMullan, P.C. / Attorney
    • White & Mc Carthy: Herndon Sheryl L / Attorney
    • Carl Rodgers of The Gaulden Group / Real Estate Consultant
    • ThompsonMcMullan PC / Attorney / Legal Services
    • Balzer & Associates Inc / Surveyor / Architect

    Property Details for 15871 City View Dr

    Year built
    2008
    Lot size
    3.78 lot acres
    Property size
    19,946 SF
    Zone code
    I2 - GEN INDUSTRIAL DIST
    Property type
    Office buildings
    APN
    714-71-19-66-800-000
    APU
    714711966800000

    Description

    This exceptional Class A executive office space, located at 15871 City View Drive in Midlothian, Virginia, offers 2,649 square feet of immediately available space within a larger 13,975 square foot building. The property is situated in Chesterfield County, zip code 23113, and boasts a prime location in the Richmond metropolitan area. The suite is part of a single-tenant building, ensuring a quiet and professional work environment. The building itself is classified as Class A, reflecting its high-quality construction and modern amenities. This is a multi-tenant building, however, this particular suite is currently vacant and ready for immediate occupancy. The space is ideal for businesses seeking a prestigious address and a functional layout. With ample square footage, the suite provides flexibility for various office configurations to suit diverse business needs. The property's location offers easy access to major transportation routes, making commuting convenient for employees and clients alike. Interested parties are encouraged to inquire about lease terms and conditions. This is a rare opportunity to secure a high-quality executive office space in a desirable location. The address is 15871 City View Drive, Richmond, VA 23113.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $3,895,000
      6.5%
      $3,595,000
      7%
      $3,335,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $4,409,000
      Market price range: $1.23M - $4.88M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $4,645,000
      Current use
      AUTO REPAIR, GARAGE
      $4,935,000
      Change: +6% Conversion: Difficult
      RETAIL STORES
      $4,025,000
      Change: -13% Conversion: Moderate

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Midlothian
    County
    Chesterfield
    State
    Virginia
    Longitude
    -77.6999
    Latitude
    37.514
    CBSA code
    40060
    CBSA name
    RICHMOND, VA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $45,171
    $1,091,700
    $3,826,200
    $4,917,900
    -
    $1,091,700
    $3,826,200
    $4,917,900

    Comparable in this City

    • Value Estimation
      $925,000
      4,891 SF

      1930 Huguenot Rd

      OFFICE BUILDING • 4,891 SF
      1930 Huguenot Rd, Midlothian, VA 23113
      View Details
    • Value Estimation
      $1,085,000
      6,811 SF

      2331 Robious Sta Cir

      OFFICE BUILDING • 6,811 SF
      2331 Robious Sta Cir, Midlothian, VA 23113-2124
      View Details
    • Value Estimation
      $1,175,000
      6,324 SF

      1525 Huguenot Rd

      OFFICE BUILDING • 6,324 SF
      1525 Huguenot Rd, Midlothian, VA 23113-2438
      View Details
    • Value Estimation by Request
      3,024 SF

      14413 Justice Rd

      OFFICE BUILDING • 3,024 SF
      14413 Justice Rd, Midlothian, VA 23113-6886
      View Details
    • Value Estimation by Request
      3,500 SF

      14405 Justice Rd

      OFFICE BUILDING • 3,500 SF
      14405 Justice Rd, Midlothian, VA 23113-6875
      View Details
    • Value Estimation
      $1,550,000
      6,150 SF

      13303 Midlothian Tpke

      OFFICE BUILDING • 6,150 SF
      13303 Midlothian Tpke, Midlothian, VA 23113-4204
      View Details

    Similar Nearby for Sale

    • $383,000
      1,224 SF

      Office Building in Chesterfield County

      Office building for sale in Midlothian, Chesterfield County.
      Midlothian, VA 23113
      View Details
    • $1,469,000
      3,978 SF

      Midlothian Medical/Office Property For Sale

      Located in the heart of Midlothian near medical facilities.
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      View Details
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      11,700 SF

      Office Space in Sommerville Park

      Build-to-suit office, medical, or flex space in Midlothian, VA.
      14320 Sommerville Ct, Midlothian, VA 23113
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    • Contact for pricing
      11,037 SF

      Midlothian Office & Land Investment

      11,037 SF Office/Retail Space, VA
      17 Le Gordon Dr, Midlothian, VA 23113
      View Details
    • $6,750,000

      Land with Turnpike Access

      15+ acres of land with multiple access points.
      12203 Midlothian Tpke, Midlothian, VA 23113
      View Details
    • $2,500,000
      3.38 Acres

      Redevelopment Assemblage in Midlothian Village

      3.38-acre site ideal for mixed-use development in Chesterfield County.
      13844 Midlothian Tpke, Midlothian, VA 23113
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      6,000 SF

      Office/Retail Pad Sites Available

      Office and retail pad sites available for lease.
      3738 Winterfield Rd, Midlothian, VA 23113
      View Details
    • $16 SF/Yr
      650 SF

      Office Space For Rent

      Elevator-served office building with ample parking and onsite ownership.
      1507 Huguenot Rd, Midlothian, VA 23113
      View Details
    • Contact for pricing
      1,870 SF

      Unique Office Space For Rent

      Class A office space with unique architectural features available for lease.
      15871 City View Dr, Midlothian, VA 23113
      View Details
    • $1,400,000
      1,400 SF

      Move-in Ready Office Space Available

      Lease ready office space with monument signage and ample parking.
      1700 Huguenot Rd, Midlothian, VA 23113
      View Details
    • $1,800,000
      2,872 SF

      Office Space in Desirable Neighborhood

      Office space for rent in a high-traffic Midlothian location.
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      View Details
    • $23 SF/Yr
      2,932 SF

      Midlothian Turnpike Office Space

      Office space available in prominent Midlothian building.
      14401 Sommerville Ct, Midlothian, VA 23113
      View Details
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    15871 City View Dr
    Midlothian, VA 23113
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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