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    Property profile & analytics

    2737 Mcrae Rd North Chesterfield, VA 23235-3055

    • Office buildings
    • 6,201 SF
    • 0.38 lot acres
    OFF-MARKET
    Value Estimations
    $1,130,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US87-0738117
    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

    • TJ Perry Real Estate Agent - Berkshire Hathaway HomeServices / Real Estate Agency
    • Linwood Boswell, BHHS PenFed Realty / Real Estate Agency
    • Aaron Gilbert, Richmond Realtor - Berkshire Hathaway HomeServices PenFed Realty / Real Estate Agency
    • Sam Plott, Realtor | Berkshire Hathaway Home Services PenFed Realty / Real Estate Agency
    • Berkshire Hathaway HomeServices PenFed Realty: Teresa Melton / Real Estate Agency

    Property Details for 2737 Mcrae Rd

    Year built
    1974
    Lot size
    0.38 lot acres
    Property size
    6,201 SF
    Zone code
    C2 - NBHD BUSINESS DIST
    Property type
    Office buildings
    APN
    754-71-96-09-800-000
    APU
    754719609800000

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,480,000
      6.5%
      $1,370,000
      7%
      $1,270,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $843,000
      Market price range: $415k - $1.08M
      AI Estimate
      $1,177,000
      Market price range: $394k - $1.79M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $770,000
      Current use
      RESTAURANT
      $1,745,000
      Change: +127% Conversion: Moderate
      COMMERCIAL (GENERAL)
      $1,550,000
      Change: +102% Conversion: Easy
      AUTO REPAIR, GARAGE
      $1,130,000
      Change: +47% Conversion: Difficult
      MEDICAL BUILDING
      $1,035,000
      Change: +35% Conversion: Easy
      NEIGHBORHOOD: SHOPPING CENTER
      $1,020,000
      Change: +33% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $995,000
      Change: +30% Conversion: Easy
      RETAIL STORES
      $895,000
      Change: +16% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    North Chesterfield
    County
    Chesterfield
    State
    Virginia
    Longitude
    -77.563
    Latitude
    37.5358
    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
    $7,450
    $174,300
    $636,800
    $811,100
    -
    $174,300
    $636,800
    $811,100

    Comparable in this City

    • Value Estimation
      $20,030,000
      108,996 SF

      8730 Stony Pt Pkwy

      OFFICE BUILDING • 108,996 SF
      8730 Stony Pt Pkwy, Richmond, VA 23235-1970
      View Details
    • Value Estimation
      $1,025,000
      4,496 SF

      1919 Huguenot Rd

      OFFICE BUILDING • 4,496 SF
      1919 Huguenot Rd, North Chesterfield, VA 23235-4321
      View Details
    • Value Estimation
      $3,195,000
      59,482 SF

      101 Buford Rd

      OFFICE BUILDING • 59,482 SF
      101 Buford Rd, North Chesterfield, VA 23235-5292
      View Details
    • Value Estimation by Request
      1,692 SF

      11505 Allecingie Pkwy

      OFFICE BUILDING • 1,692 SF
      11505 Allecingie Pkwy, North Chesterfield, VA 23235-4301
      View Details
    • Value Estimation
      $1,070,000
      4,875 SF

      1901 Huguenot Rd

      OFFICE BUILDING • 4,875 SF
      1901 Huguenot Rd, North Chesterfield, VA 23235-4311
      View Details
    • Value Estimation
      $685,000
      2,995 SF

      9004 Huguenot Rd

      PROFESSIONAL BUILDING • 2,995 SF
      9004 Huguenot Rd, Richmond, VA 23235-2300
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      27,700 SF

      Prominent Building on Route 360

      Two-story building on 3.63 acres with high visibility.
      8141 Hull Street Rd, North Chesterfield, VA 23235
      View Details
    • Contact for pricing
      5,040 SF

      Renovated Office/Medical Building with Yard

      Move-in ready office/medical building with expansion potential and outdoor space.
      11449 Robious Rd, North Chesterfield, VA 23235
      View Details
    • $400,000
      1.89 Acres

      Residential Land with Pool House

      Approximately 2 acre lot with existing pool and pool house.
      4220 Southampton Rd, Richmond, VA 23235
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    • $365,000
      8.30 Acres

      North Chesterfield Buildable Land Available

      8.3 acres of land in high-traffic area.
      8120 Hull Street Rd, North Chesterfield, VA 23235
      View Details
    • New
      $109,999
      3.20 Acres

      Residential Land in Stonemill Creek

      3.2 acres in a newly built subdivision.
      1551 Twilight Ln, Chesterfield, VA 23235
      View Details
    • $109,999
      3.20 Acres

      Residential Land in Chesterfield, VA

      3.2 acres in Stonemill Creek subdivision, ready for building.
      1551 Twilight Ln, Richmond, VA 23235
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      8,280 SF

      Class A Office Building

      Class A office building with direct access and full visibility.
      9020 Stony Point Pkwy, Richmond, VA 23235
      View Details
    • Contact for pricing
      3,792 SF

      Office Space with Modern Amenities

      Renovated office space with cafe, conference center, and outdoor seating.
      9030 Stony Point Pkwy, Richmond, VA 23235
      View Details
    • Contact for pricing
      22,971 SF

      Class A Office Space Available

      Class A office building with updated finishes and ample parking.
      101 Gateway Centre Pkwy, Richmond, VA 23235
      View Details
    • Contact for pricing
      7,695 SF

      Class A Office Building Space

      Modern office building with highway access and ample parking.
      100 Gateway Centre Pkwy, Richmond, VA 23235
      View Details
    • Contact for pricing

      VA, Richmond - Forest Hill Avenue

      Workspaces, services and support to help you work better in MN, Minnetonka - County Road
      9211 Forest Hill Ave, Richmond, VA 23235
      View Details
    • Contact for pricing
      2,379 SF

      Richmond Office Space For Rent

      Office park with recent renovations and medical center proximity.
      9327 Midlothian Tpke, Richmond, VA 23235
      View Details
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    2737 Mcrae Rd
    North Chesterfield, VA 23235-3055
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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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