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

    4900 Millridge E Pkwy Midlothian, VA 23112-4828

    • Medical offices
    • 3,365 SF
    • 0.60 lot acres
    OFF-MARKET
    Last Sale
    Aug 02, 2021
    Value Estimations
    $210,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US87-0961092
    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

    • Commonwealth Endodontics / Endodontist / Dentist
    • Dr. Timothy Finkler / Dentist
    • Dr. Amber Ather / Dentist
    • Mrs. Madelyn Morris / Dentist
    • Melinda R Lee / Dentist

    Property Details for 4900 Millridge E Pkwy

    Year built
    1979
    Lot size
    0.60 lot acres
    Property size
    3,365 SF
    Zone code
    C2 - NBHD BUSINESS DIST
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    733-67-81-73-600-000
    APU
    733678173600000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $245,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $179,000
      Market price range: $97.5k - $318k

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $195,000
      Current use
      COMMERCIAL (GENERAL)
      $295,000
      Change: +53% Conversion: Easy
      AUTO REPAIR, GARAGE
      $180,000
      Change: -8% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Midlothian
    County
    Chesterfield
    State
    Virginia
    Longitude
    -77.6382
    Latitude
    37.4221
    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
    $5,342
    $171,300
    $400,800
    $572,100
    -
    $171,300
    $400,800
    $572,100

    Comparable in this City

    • Value Estimation
      $365,000
      12,415 SF

      6510 Harbour Vw Ct

      MEDICAL BUILDING • 12,415 SF
      6510 Harbour Vw Ct, Midlothian, VA 23112-6559
      View Details
    • Value Estimation
      $240,000
      2,550 SF

      4904 Millridge E Pkwy

      MEDICAL BUILDING • 2,550 SF
      4904 Millridge E Pkwy, Midlothian, VA 23112-4828
      View Details
    • Value Estimation
      $1,255,000
      2,665 SF

      5001 Vlg Grn Dr

      MEDICAL BUILDING • 2,665 SF
      5001 Vlg Grn Dr, Midlothian, VA 23112-4801
      View Details
    • Value Estimation
      $315,000
      11,085 SF

      3000 Watercove Rd

      MEDICAL BUILDING • 11,085 SF
      3000 Watercove Rd, Midlothian, VA 23112-3982
      View Details
    • Value Estimation
      $385,000
      8,774 SF

      5921 Harbour Ln

      MEDICAL BUILDING • 8,774 SF
      5921 Harbour Ln, Midlothian, VA 23112-2158
      View Details
    • Value Estimation
      $2,540,000
      3,500 SF

      13516 Hull St Rd

      MEDICAL BUILDING • 3,500 SF
      13516 Hull St Rd, Midlothian, VA 23112-2107
      View Details

    Similar Nearby for Sale

    • $1,200,000
      Pending

      Chesterfield Land For Sale

      8.79 acre commercial land parcel in Chesterfield, Virginia.
      11000 Hull Street Rd, Chesterfield, VA 23112
      View Details
    • Contact for pricing
      9,343 SF

      Veterinary Space Near Brandermill

      7,927 SF space near Powhite Parkway and Route 288.
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    • Contact for pricing
      4,995 SF

      Cleared Lot in Medical Park

      0.83 acre cleared lot in Midlothian's Waterford Medical Park.
      13506 Tredegar Lake Pkwy, Midlothian, VA 23112
      View Details
    • Contact for pricing
      20,067 SF

      Medical Building on Hull Street

      20,067 SF Class A medical building with frontage on Hull Street.
      13520 Hull Street Rd, Midlothian, VA 23112
      View Details
    • $610,000
      2,544 SF

      Harbour Park Drive Office Opportunity

      Office property suitable for medical or professional use.
      5924-5930 Harbour Park Dr, Midlothian, VA 23112
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      Waterfront Office Building For Sale

      8,995 SF waterfront office building, investment or owner-occupant opportunity.
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      View Details

    Similar Nearby for Lease

    • $19 SF/Yr
      43,059 SF

      Woodlake Commons: Midlothian Office Space

      Midlothian office complex, multiple suites available.
      6920 Woodlake Commons Loop, Midlothian, VA 23112
      View Details
    • $21 SF/Yr
      48,000 SF

      Waterford One: Premier Office Space

      Lakefront Executive & Medical Offices, 3 Suites Available
      2820 Waterford Lake Dr, Midlothian, VA 23112
      View Details
    • $21 SF/Yr
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      Midlothian Medical Office Space

      Prime Medical Office Suites Available
      2901-2949 Fox Chase Ln, Midlothian, VA 23112
      View Details
    • $21 SF/Yr
      1,534 SF

      Office/Medical Space on Genito Road

      Office or medical space with frontage on Genito Road.
      2901-2917 Fox Chase Ln, Midlothian, VA 23112
      View Details
    • $19 SF/Yr
      3,156 SF

      Medical Office Space Available

      Medical office space with exam rooms and private offices.
      10130 Hull Street Rd, Midlothian, VA 23112
      View Details
    • $21 SF/Yr
      2,200 SF

      Office/Medical Space on Genito Road

      Office or medical space with frontage on Genito Road.
      2929-2953 Fox Chase Ln, Midlothian, VA 23112
      View Details
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    Midlothian, VA 23112-4828
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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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