Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    3621 Courthouse Rd Providence Forge, VA 23140-3411

    • Commercial real estate
    • 2,550 SF
    • 19.81 lot acres
    OFF-MARKET
    Value Estimations
    $620,000
    Show details
    Cap Rate Potential
    4.3%
    Commercial real estate
    Location Intelligence
    Property ID
    US87-1684864
    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

    • Family Dollar / Dollar Store / Beer Store

    Property Details for 3621 Courthouse Rd

    Year built
    1991
    Lot size
    19.81 lot acres
    Property size
    2,550 SF
    Zone code
    BUS
    Property type
    Commercial real estate
    APN
    41A1 2 12M
    APU
    41A1212M

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $745,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $530,000
      6.5%
      $490,000
      7%
      $455,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Providence Forge
    County
    New Kent
    State
    Virginia
    Longitude
    -77.0415
    Latitude
    37.4448
    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
    2023
    $17,273
    $996,000
    $1,582,000
    $2,578,000
    -
    $996,000
    $1,582,000
    $2,578,000

    Comparable in this City

    • Value Estimation by Request
      68.00 Acres

      Chesapeake Cir

      Land • 68.00 Acres
      0 Chesapeake Cir, New Kent, VA 23140
      View Details
    • Value Estimation
      $235,000
      3,340 SF

      9210 Courthouse Rd

      COMMERCIAL (GENERAL) • 3,340 SF
      9210 Courthouse Rd, Providence Forge, VA 23140
      View Details
    • Value Estimation
      $330,000
      750 SF

      6540 Emmaus Church Rd Ste, Unit 107

      COMMERCIAL CONDOMINUIM • 750 SF
      6540 Emmaus Church Rd Ste, Providence Forge, VA 23140-3245
      View Details
    • Value Estimation
      $355,000
      2,199 SF

      9220 Blvd Rd

      COMMERCIAL (GENERAL) • 2,199 SF
      9220 Blvd Rd, Providence Forge, VA 23140-3731
      View Details
    • Value Estimation
      $295,000
      1,536 SF

      9422 Blvd Rd

      COMMERCIAL (GENERAL) • 1,536 SF
      9422 Blvd Rd, Providence Forge, VA 23140-3728
      View Details
    • Value Estimation
      $400,000
      2,451 SF

      3610th N Courthouse Rd

      COMMERCIAL (GENERAL) • 2,451 SF
      3610th N Courthouse Rd, Providence Forge, VA 23140-3410
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      68.00 Acres

      Prime Commercial Land, I-64 & Rt 155

      68 Acres, High-Traffic Location, VA
      0 Chesapeake Cir, New Kent, VA 23140
      View Details
    • $635,000
      1.12 Acres

      Prime 1.12-Acre Commercial Land

      Ready-to-Develop Commercial Lot in VA
      00 Chesapeake Cir Providence Frg, New Kent, VA 23140
      View Details
    • $635,000
      1 SF

      Prime Commercial Lot Near I64

      1.12-acre commercial lot off I64, ready for development.
      00 Chesapeake Cir, Providence Forge, VA 23140
      View Details
    • $139,900
      0.49 Acres

      Brickshire Homesite Opportunity

      0.49-acre homesite in Brickshire community with resort-style amenities.
      11366 Pinewild Dr, Providence Forge, VA 23140
      View Details
    • $139,900
      0.42 Acres

      Brickshire Homesite in Providence Forge

      0.42-acre lot in Brickshire community with resort-style amenities.
      5172 Brandon Pines Dr, Providence Forge, VA 23140
      View Details
    • $149,500
      23.00 Acres

      23 Acres Land, Providence Forge

      23 acres of land suitable for truck parking.
      Courthouse Rd, Providence Forge, VA 23140
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    3621 Courthouse Rd
    Providence Forge, VA 23140-3411
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.