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    2310 Indian Hl Rd South Chesterfield, VA 23834-6004
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    Property profile & analytics

    2310 Indian Hl Rd, South Chesterfield, VA 23834-6004

    View on Map
    • Motels
    • 18,240 SF
    • 3.81 lot acres
    Off-Market
    Property ID
    US87-0364115
    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.
    Value Estimations
    $510,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Rodeway Inn Colonial Heights I-95 / Hotel & Motel

    Property Details for 2310 Indian Hl Rd

    Year built
    1974
    Lot size
    3.81 lot acres
    Zone code
    C5 - GEN BUSINESS DIST
    Property type
    Motels
    APN
    802-63-94-13-400-000
    APU
    802639413400000

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jul 8, 2024 — Nilkant LLC Cosmo INC Correction Deed · related $2.7M · Hammi Bank
    Mar 12, 2009 $1,900,000 Nilkant LLC Cosmo INC Grant Deed —
    Jul 24, 2008 — Cosmo INC — Trustees Deed · related $700k · First Capital Bank Ssb
    — — Cosmo INC — Deed Of Trust · related $245k · Millennium Bank NA

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $450,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $565,000
      Market price range: $288k - $1.06M

    • Alternative Use

      Use
      Estimation
      HOTEL/MOTEL
      $550,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    South Chesterfield
    County
    Chesterfield
    State
    Virginia
    Longitude
    -77.4013
    Latitude
    37.3129
    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
    $27,170
    $663,200
    $2,266,800
    $2,930,000
    -
    $663,200
    $2,266,800
    $2,930,000

    Comparable in this City

    • Value Estimation by Request
      7,508 SF

      16800 Rte 1st 1

      MOTEL
      16800 Rte 1st 1, Colonial Heights, VA 23834
      View Details
    • Value Estimation
      $630,000
      24,258 SF

      2201 Indian Hl Rd

      MOTEL
      2201 Indian Hl Rd, South Chesterfield, VA 23834-6001
      View Details
    • Value Estimation
      $3,955,000
      92,701 SF

      800 Southpark Blvd

      HOTEL
      800 Southpark Blvd, Colonial Heights, VA 23834-3612
      View Details
    • Value Estimation
      $2,125,000
      45,052 SF

      255 Jennick Dr

      HOTEL
      255 Jennick Dr, Colonial Heights, VA 23834-4908
      View Details
    • Value Estimation
      $2,020,000
      42,812 SF

      441 Charles H Dimmock Pkwy

      HOTEL
      441 Charles H Dimmock Pkwy, Colonial Heights, VA 23834-2970
      View Details
    • Value Estimation
      $2,495,000
      52,641 SF

      931 Ss Ave

      HOTEL
      931 Ss Ave, Colonial Heights, VA 23834-3601
      View Details

    Similar Nearby for Sale

    • $45,000
      0.63 Acres

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      0.632 acre lot, ideal for building a home.
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    • $60,000
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      Colonial Heights Buildable Lot

      Buildable lot in Gills Point neighborhood with utilities available.
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    • $2,500,000
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      Prime Commercial Land on Route 1

      High-visibility commercial land with frontage on Jefferson Davis Highway.
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    • $150,000
      5 SF

      Prime Commercial Land on Route 1

      5.71 acres of commercially zoned land with high visibility.
      15100 Jefferson Davis Hwy, Colonial Heights, VA 23834
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    • $49,900
      Pending

      Colonial Heights Building Lot

      Buildable lot in established Colonial Heights area.
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    • Contact for pricing

      Outparcel Development Site Available

      Approximately 1.15 AC outparcel development site for sale.
      16003 Us-1, S Chesterfld, VA 23834
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    Similar Nearby for Lease

    • Contact for pricing

      Retail Spaces Available for Lease

      Retail spaces available in Food Lion anchored neighborhood center.
      15700 Jefferson Davis Hwy, Colonial Heights, VA 23834
      View Details
    • Contact for pricing
      505,068 SF

      Industrial Space in South Chesterfield

      Industrial space available for lease in South Chesterfield, Virginia.
      16301 Walthall Industrial Pkwy, South Chesterfield, VA 23834
      View Details
    • Contact for pricing
      77,000 SF

      Secure Industrial Facility with Fenced Yard

      77,000 SF industrial facility with secure, fenced yard.
      1703 Ruffin Mill Rd, South Chesterfield, VA 23834
      View Details
    • Contact for pricing
      1,578 SF

      Retail Space in Colonial Heights

      Retail space available for lease in Colonial Heights, Virginia.
      1050 Temple Ave, Colonial Heights, VA 23834
      View Details
    • Contact for pricing
      10,000 SF

      New Construction Office/Warehouse Space

      New construction office/warehouse with outside storage and dock potential.
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      View Details
    • Contact for pricing
      40,000 SF

      Retail Space Near I-95

      Retail opportunity with high visibility near I-95 in Colonial Heights.
      44-100 Southpark Blvd, Colonial Heights, VA 23834
      View Details
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    South Chesterfield, VA 23834-6004
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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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    2310 Indian Hl Rd, South Chesterfield, VA, 23834
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