3405 Commerce Rd Richmond, VA 23234
Property Lookup
Property profile & analytics
3405 Commerce Rd Richmond, VA 23234
- Office buildings
- 41,396 SF
- 3.46 lot acres
Property ID
US87-3833181
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.
Location Intelligence
Current Use by Public Records
- CC Staffing service / Employment Agency
- Git The Trucking Commercial Tires / (Bike/Boat/Book/etc) Store / Auto Parts Store
- 69 Chosen LLC / (Bike/Boat/Book/etc) Store / Printing Service
Property Details for 3405 Commerce Rd
- Year built
- 1900
- Construction
- TYPE NOT SPECIFIED
- Lot size
- 3.46 lot acres
- Property size
- 41,396 SF
- Zone code
- M-1 LIGHT INDUSTRIAL
- Property type
- Office buildings
- APN
- S-008-0822-072
- APU
- S0080822072
Description
This exceptional single-tenant industrial investment opportunity in Richmond, VA, presents a compelling chance to acquire a high-cash-flow asset with minimal management demands. Located at 3405 Commerce Rd, this 42,628 square foot building sits on a 3.46-acre parcel and boasts a triple-net lease structure, ensuring the tenant, Git The Trucking Commercial Tires, covers all real estate taxes, insurance, utilities, and maintenance. The building, constructed in 1962 and recently updated with a new roof (20-year warranty), features 12-foot ceilings, three loading docks, one drive-in door, and two levelers. The property also includes approximately 177 parking spaces. The current lease, in place for over a year, includes annual market rate increases. The building's prime location, with high visibility from I-95, makes it an ideal distribution hub for the East Coast. The property's M-1 zoning and 3-phase/240V/3000-amp service further enhance its appeal. The building's previous use was printing and direct mail, showcasing its adaptability. The strong Richmond industrial market, characterized by healthy demand and significant rental rate growth, ensures a robust return on investment. This is a turnkey opportunity for a savvy investor seeking a low-maintenance, high-yield property. The asking price is $5,100,000, translating to $128.03 per square foot. The property is currently 100% occupied.
Value Estimations
based on Realmo’s proprietary methodology
-
AI approach
- Method
- Estimation
- Statistic approach
- $1,925,000
- ML approach
- $1,910,000
-
Comparable approach
- Method
- Estimation
- AI Estimate
- $1,669,000
Market price range: $1.67M - $6.82M
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Richmond
- County
- Richmond City
- State
- Virginia
- Longitude
- -77.4309
- Latitude
- 37.4762
- 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
2020
$20
$638,000
$1,406,000
$2,044,000
-
$638,000
$1,406,000
$2,044,000
