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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    3966 Springfield Rd Glen Allen, VA 23060-4119

    • Office buildings
    • 1,800 SF
    • 0.04 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US87-1270760
    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

    • Memories Videography / Film Production / Television Studio
    • MV Wedding Films / Film Production

    Property Details for 3966 Springfield Rd

    Year built
    2002
    Lot size
    0.04 lot acres
    Property size
    1,800 SF
    Zone code
    O-2C
    Property type
    Office buildings
    APN
    755-759-1029.015
    APU
    7557591029015

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Glen Allen
    County
    Henrico
    State
    Virginia
    Longitude
    -77.5603
    Latitude
    37.644
    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
    $2,984
    $43,800
    $307,200
    $351,000
    -
    $43,800
    $307,200
    $351,000

    Comparable in this City

    • Value Estimation
      $8,280,000
      59,346 SF

      2151 Old Brick Rd

      OFFICE BUILDING • 59,346 SF
      2151 Old Brick Rd, Glen Allen, VA 23060-5837
      View Details
    • Value Estimation
      $16,205,000
      124,734 SF

      4600 Cox Rd

      OFFICE BUILDING • 124,734 SF
      4600 Cox Rd, Glen Allen, VA 23060-6706
      View Details
    • Value Estimation
      $8,530,000
      72,000 SF

      4900 Cox Rd

      OFFICE BUILDING • 72,000 SF
      4900 Cox Rd, Glen Allen, VA 23060-6507
      View Details
    • Value Estimation
      $19,685,000
      112,079 SF

      4501 Highwoods Pkwy

      OFFICE BUILDING • 112,079 SF
      4501 Highwoods Pkwy, Glen Allen, VA 23060-6152
      View Details
    • Value Estimation by Request
      60,000 SF

      4880 Cox Rd

      OFFICE BUILDING • 60,000 SF
      4880 Cox Rd, Glen Allen, VA 23060-6506
      View Details
    • Value Estimation
      $1,130,000
      6,625 SF

      8650 Brk Rd

      OFFICE BUILDING • 6,625 SF
      8650 Brk Rd, Glen Allen, VA 23060-4020
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      19,355 SF

      Innsbrook Corporate Park Office Building

      19,355 SF office building in Innsbrook Corporate Park.
      4194-4196 Innslake Dr, Glen Allen, VA 23060
      View Details
    • Contact for pricing

      Innsbrook Square Multifamily Community

      Class A multifamily community in Richmond's Short Pump submarket.
      4301 Dominion Forest Cir, Glen Allen, VA 23060
      View Details
    • $1,750,000
      1.52 Acres

      Prime Short Pump Commercial Land

      1.52 Acres, $1.75M, High Visibility
      4150 Tom Leonard Dr, Glen Allen, VA 23060
      View Details
    • $474,950
      1.85 Acres

      Glen Allen Land Development Opportunity

      Rare 1.85-acre land parcel suitable for residential development.
      10387 Jordan Dr, Glen Allen, VA 23060
      View Details
    • $499,000

      Short Pump Area Commercial Land

      1.033 AC land in Short Pump area for sale.
      4100 Springfield Church Ln, Glen Allen, VA 23060
      View Details
    • $265,000
      1,065 SF

      Glen Allen Condo with Upgrades

      Two-bedroom condo in The Landings at Laurel with recent upgrades.
      10205 Wolfe Manor Ct, Glen Allen, VA 23060
      View Details

    Similar Nearby for Lease

    • $19 SF/Yr
      2,029 SF

      Freestanding Office Building For Rent

      Single-story Class A office building with convenient parking and signage.
      4202 Park Place Ct, Glen Allen, VA 23060
      View Details
    • Contact for pricing
      1,955 SF

      Innsbrook Corporate Center Office Building

      Three-story, 72,000 SF office building, renovated in 2021.
      4461 Cox Rd, Glen Allen, VA 23060
      View Details
    • $17 SF/Yr
      5,935 SF

      Renovated Office Building in Raleigh-Durham

      Class A office building with modern amenities in the Triangle.
      4190-4196 Innslake Dr, Glen Allen, VA 23060
      View Details
    • Contact for pricing
      3,744 SF

      Class A Office with Lake Views

      Class A office building in North Park with lake views.
      4701 Cox Rd, Glen Allen, VA 23060
      View Details
    • $23 SF/Yr
      2,938 SF

      Innsbrook Office Space Available

      Class B office building in Innsbrook Office Park for lease.
      4121 Cox Rd, Glen Allen, VA 23060
      View Details
    • Contact for pricing
      38,393 SF

      Class A Office Space Available

      Premier Class A office building in Innsbrook Corporate Center.
      4851 Cox Rd, Glen Allen, VA 23060
      View Details
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    3966 Springfield Rd
    Glen Allen, VA 23060-4119
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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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