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Property profile & analytics
OFF-MARKET Estimated value $2,070,000
Super regional malls

3401 Cox Rd Henrico, VA 23233-2001

22,700 SF 3.14 ac lot Built 1990
Entity Owned 18-yr Hold Absentee Owner ~ Est. High Equity
Property ID
US87-0701543
Property summary
AI-generated overview

Tower Plaza Shopping Center presents a compelling investment opportunity in Richmond, Virginia's thriving northwest retail quadrant. This 22,580-square-foot retail strip center boasts a prime location, just a quarter-mile from the entrance to Innsbrook Corporate Park, a major employment hub encompassing over eight million square feet of office space. The property features 169 parking spaces, ensuring ample convenience for shoppers and employees. The center's multiple tenancy allows for diverse income streams and potential for future growth. The property's APN is 747-757-3086. An attractive aspect of this offering is the availability of up to 3,600 square feet of outparcel/developable land, presenting significant expansion or redevelopment potential. This presents a unique chance to capitalize on the high-traffic location and strong tenant base already established within Tower Plaza. The property sits on a 3,600-square-foot lot, providing a solid foundation for current operations and future development. This retail center is strategically positioned to benefit from the substantial foot traffic generated by the nearby corporate park and surrounding residential communities. The property's strong location and development potential make it an ideal investment for those seeking a stable, high-growth opportunity in the Richmond market. This is a rare chance to acquire a well-established retail center with significant upside potential.

Property profile
Verified
Property type Super regional malls
Use group REGIONAL SHOPPING CENTER, MALL
Year built 1990
Total area 22,700 SF
Lot 3.14 ac (136,909 SF)
Zoning code B-2
APN 747-757-3086
UPID US87-0701543
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
  • Isalis (Bike/Boat/Book/etc) Store
  • Party City Party Supply Store (Bike/Boat/Book/etc) Store
  • Skunk Funk Big Box & Wholesale Store
  • Carl's Trading Co Hat Shop
  • Bushka's Kitchen LLC (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$2.29M
Blend (final) Blend
$2.07M
Owner & transaction history
Tower Properties LLC · 18 yrs held
Tower Properties LLC
since 2008
1 recorded transaction
2008
Price N/A
Zoning & alternative use
B-2 · Henrico, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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