Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    5303 Plz Dr North Prince George, VA 23860-7331

    Property Lookup

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

    5303 Plz Dr North Prince George, VA 23860-7331

    View on Map
    • Medical Office Space
    • 11,900 SF
    • 1.89 lot acres
    Off-Market
    Property ID
    US87-1401782
    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.
    Value Estimations
    $1,525,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Medical Office Space

    Property Details for 5303 Plz Dr

    Year built
    2000
    Construction
    TYPE NOT SPECIFIED
    Lot size
    1.89 lot acres
    Property size
    11,900 SF
    Zone code
    B3
    Property type
    Medical Office Space
    Property subtype
    Medical centers
    APN
    245-0065
    APU
    2450065

    Description

    This exceptional 12,000-square-foot medical office building, constructed in 2001, presents a compelling investment opportunity. The property boasts a 7.43% capitalization rate and is currently 100% occupied by four medical suites, generating a net operating income (NOI) of $130,000. Located at 5303 Plaza Drive in Hopewell, Virginia (zip code 23860), this single-story building sits on a B-3 zoned lot. Its prime location offers easy access to Route 36 and I-295, placing it in close proximity to Fort Gregg-Adams (formerly Fort Lee) and the Southpark Mall via Temple Avenue and I-95. This strategic positioning ensures convenient service to the entire Tri-Cities market. The building's strong rental history and high occupancy rate make it an attractive, stabilized investment. The asking price for this fully leased medical office building is $1,750,000. This is a rare opportunity to acquire a high-performing asset in a desirable location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $1,225,000
      COMMERCIAL (GENERAL)
      $1,200,000

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

    Location Insight

    • Map
    • Local Demand
    City
    North Prince George
    County
    Hopewell City
    State
    Virginia
    Longitude
    -77.3303
    Latitude
    37.2599
    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
    $26,647
    $739,200
    $1,538,300
    $2,277,500
    -
    $739,200
    $1,538,300
    $2,277,500

    Comparable in this City

    • Value Estimation
      $740,000
      10,034 SF

      207 4th Ave

      MEDICAL BUILDING • 10,034 SF
      207 4th Ave, Hopewell, VA 23860-2503
      View Details
    • Value Estimation
      $610,000
      4,404 SF

      1012 Winston Churchill Dr

      MEDICAL BUILDING • 4,404 SF
      1012 Winston Churchill Dr, Hopewell, VA 23860-5141
      View Details
    • Value Estimation
      $840,000
      6,456 SF

      201 Poythress St

      MEDICAL BUILDING • 6,456 SF
      201 Poythress St, Hopewell, VA 23860-2724
      View Details
    • Value Estimation by Request
      2,982 SF

      602 6th Ave

      MEDICAL BUILDING • 2,982 SF
      602 6th Ave, Hopewell, VA 23860-2621
      View Details
    • Value Estimation
      $520,000
      3,606 SF

      317 Broadway

      MEDICAL BUILDING • 3,606 SF
      317 Broadway, Hopewell, VA 23860-2645
      View Details
    • Value Estimation
      $700,000
      5,172 SF

      308 4th Ave

      MEDICAL BUILDING • 5,172 SF
      308 4th Ave, Hopewell, VA 23860-2506
      View Details

    Similar Nearby for Sale

    • $800,000

      Versatile Commercial Property with Garage

      Commercial property featuring a garage, office, and essential amenities.
      3607 Woodlawn St, Hopewell, VA 23860
      View Details
    • $145,000
      1.69 Acres

      Hopewell Land Investment Opportunity

      Thirteen undeveloped lots near Hopewell Riverwalk, Beacon Theatre, and waterfront.
      E Poythress St, Hopewell, VA 23860
      View Details
    • Contact for pricing

      Commercial Land Near Fort Lee

      Commercial land suitable for retail, office, or multifamily development.
      5201 Plaza Dr, Hopewell, VA 23860
      View Details
    • $34,500

      Commercial/Industrial Lot For Sale

      0.198 acre commercial/industrial lot available for purchase.
      15 S 15Th Ave, Hopewell, VA 23860
      View Details
    • $41,000

      Commercial Lot For Sale

      Commercial lot for sale, 0.14 acres, zoned B2.
      109 S 6Th Ave, Hopewell, VA 23860
      View Details
    • New
      $200,000
      Pending

      Renovated Duplex in Hopewell

      Fully renovated duplex with separately metered utilities and long-term tenant.
      2709 Maple St, Hopewell, VA 23860
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      350 SF

      Downtown Office Space For Rent

      Office space available in downtown area with utilities included.
      224 N Main St, Hopewell, VA 23860
      View Details
    • $1,000 /Mo

      Office Spaces Available in Hopewell

      Various office spaces suitable for diverse businesses in Hopewell, VA.
      501 Westover Ave, Hopewell, VA 23860
      View Details
    • Contact for pricing
      4,595 SF

      Renovated Office Space Available

      Office space for lease with ongoing renovations and ample parking.
      710 S 6Th St, Hopewell, VA 23860
      View Details
    • $663 /Mo

      Retail Space in Hopewell, VA

      Retail units available in high-traffic Hopewell location.
      200 E Broadway, Hopewell, VA 23860
      View Details
    • Contact for pricing

      Retail Shopping Center For Rent

      220,250 SF retail shopping center on 19.06 acres.
      5200-5260 Oaklawn Blvd, Hopewell, VA 23860
      View Details
    • Contact for pricing
      1,209 SF

      Retail Space in Hopewell, VA

      Retail space with high traffic and easy highway access.
      5262-5282 Oaklawn Blvd, Hopewell, VA 23860
      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.
    5303 Plz Dr
    North Prince George, VA 23860-7331
    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.
    Sign Up Successful!
    You now have access to more from Realmo!