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    255 Jennick Dr Colonial Heights, VA 23834-4908
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    Property profile & analytics

    255 Jennick Dr, Colonial Heights, VA 23834-4908

    View on Map
    • Hotels
    • 45,052 SF
    • 6.15 lot acres
    Off-Market
    Property ID
    US87-1798963
    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
    $2,125,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Cierra jenay / Apartment Building
    • WoodSpring Suites Richmond Colonial Heights Fort Gregg-Adams / Hotel & Motel / Vacation Rental

    Property Details for 255 Jennick Dr

    Year built
    2009
    Construction
    FRAME
    Lot size
    6.15 lot acres
    Zone code
    B3
    Property type
    Hotels
    APN
    68216100002
    APU
    68216100002

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Oct 10, 2018 — Sandpiper Lodging Op LP — Deed · related $7.3M · Keybank National Association
    Apr 30, 2009 $965,000 Sandpiper Colonial Heights LLC Roslyn Farm Corporation Deed $4.7M · First Community Bank NA

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      AUTO REPAIR, GARAGE
      $3,255,000
      WAREHOUSE, STORAGE
      $2,115,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Colonial Heights
    County
    Colonial Heights City
    State
    Virginia
    Longitude
    -77.3808
    Latitude
    37.2518
    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
    $54,916
    $966,600
    $3,609,700
    $4,576,300
    -
    $966,600
    $3,609,700
    $4,576,300

    Comparable in this City

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      92,701 SF

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      42,812 SF

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    • Value Estimation
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      42,588 SF

      15820 Woods Edge Rd

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      52,641 SF

      931 Ss Ave

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    • Value Estimation by Request
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      MOTEL
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    • Value Estimation
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      18,240 SF

      2310 Indian Hl Rd

      MOTEL
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      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Land For Sale

      Land available for sale.
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      View Details
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      Pending

      Colonial Heights Building Lot

      Buildable lot in established Colonial Heights area, variance required.
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      Established Pet Spa Investment Opportunity

      Profitable pet spa with lease extension potential.
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      Outparcels Available For Sale/Lease

      Outparcels available for sale or lease near I-95.
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      Retail Outparcels Near I-95

      Retail outparcels available for sale, lease, or build-to-suit.
      15736 Rte 1, South Chesterfield, VA 23834
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    • Contact for pricing

      Commercial Land in Chesterfield County

      Land suitable for car wash, storage, or warehouse development.
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    Similar Nearby for Lease

    • Contact for pricing
      10,000 SF

      New Construction Office/Warehouse Space

      New construction office/warehouse with outside storage and dock potential.
      16637 Rt 1, South Chesterfield, VA 23834
      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
    • $750 /Mo

      Colonial Heights Commercial Space Available

      Commercial space with C3 zoning, available May 1st.
      17222 Rte 1, Colonial Heights, VA 23834
      View Details
    • Contact for pricing
      3,600 SF

      Colonial Heights Medical Office Space

      Class B medical office/retail building with excellent visibility.
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    • Contact for pricing
      1,800 SF

      Retail Space Near Fort Gregg-Adams

      Retail spaces available in Food Lion anchored shopping center.
      15700 Jefferson Davis Hwy, Colonial Heights, VA 23834
      View Details
    • Contact for pricing
      2,400 SF

      Industrial Buildings and Yard Available

      Industrial buildings and yard for lease in South Chesterfield.
      2103 Pine Forest Dr, South Chesterfield, VA 23834
      View Details
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    Colonial Heights, VA 23834-4908
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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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