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

    620 Moorefield Park Dr Richmond, VA 23236

    • Office buildings
    • 16,054 SF
    • 3.20 lot acres
    For Lease
    View listing
    $17 SF/Yr
    Last Sale
    Oct 16, 2020
    $2,600,000
    Value Estimations
    $2,765,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US87-1156196
    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

    • Ceramic Studio of Virginia / Dental Office
    • 360 Communications Group / Consultant
    • Home Recovery - HomeAid, Inc / Home Health Care Service / Home Help Service Agency
    • Encompass Realty / Real Estate Agency
    • Hook & Ladder Gutters LLC / Roofing Company / General Contractor

    Property Details for 620 Moorefield Park Dr

    Year built
    1984
    Lot size
    3.20 lot acres
    Property size
    16,054 SF
    Zone code
    I1 - LT INDUSTRIAL DIST
    Property type
    Office buildings
    APN
    749-70-67-68-800-000
    APU
    749706768800000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,200,000
      ML approach
      $2,025,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $3,835,000
      6.5%
      $3,540,000
      7%
      $3,290,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $3,623,000
      Market price range: $1.37M - $4.47M

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $4,520,000

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

    Location Insight

    • Map
    • Local Demand
    City
    North Chesterfield
    County
    Chesterfield
    State
    Virginia
    Longitude
    -77.5801
    Latitude
    37.4999
    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
    $23,229
    $497,900
    $2,038,400
    $2,536,300
    -
    $497,900
    $2,038,400
    $2,536,300

    Comparable in this City

    • Value Estimation
      $3,410,000
      16,250 SF

      901 Moorefield Park Dr

      OFFICE BUILDING • 16,250 SF
      901 Moorefield Park Dr, North Chesterfield, VA 23236-3660
      View Details
    • Value Estimation
      $7,450,000
      27,810 SF

      9201 Arboretum Pkwy

      OFFICE BUILDING • 27,810 SF
      9201 Arboretum Pkwy, North Chesterfield, VA 23236-5402
      View Details
    • Value Estimation
      $5,670,000
      21,000 SF

      9100 Arboretum Pkwy

      OFFICE BUILDING • 21,000 SF
      9100 Arboretum Pkwy, North Chesterfield, VA 23236-3499
      View Details
    • Value Estimation by Request
      2,004 SF

      318 Arch Rd

      OFFICE BUILDING • 2,004 SF
      318 Arch Rd, North Chesterfield, VA 23236-3567
      View Details
    • Value Estimation
      $640,000
      2,160 SF

      9415 Hull St Rd

      OFFICE BUILDING • 2,160 SF
      9415 Hull St Rd, North Chesterfield, VA 23236-1247
      View Details
    • Value Estimation
      $510,000
      2,400 SF

      9411 Hull St Rd

      OFFICE BUILDING • 2,400 SF
      9411 Hull St Rd, North Chesterfield, VA 23236-1422
      View Details

    Similar Nearby for Sale

    • $150,000

      Corner Commercial Land For Sale

      1.16+ acre commercial site at high-traffic intersection.
      15 N Courthouse Rd, Richmond, VA 23236
      View Details
    • $1,100,000

      Hull Street Road Land Parcel

      11-acre land parcel with frontage on Hull Street.
      8701 Hull Street Rd, North Chesterfield, VA 23236
      View Details
    • Contact for pricing

      Richmond Commercial Land For Sale

      Commercial land with utilities and stormwater access in Richmond, VA.
      9278 N Tuxford Rd, Richmond, VA 23236
      View Details
    • $240,000

      Chesterfield County Townhome Opportunity

      3-bedroom townhome with walkout basement, ideal for living or investment.
      749 Sturgis Dr, Richmond, VA 23236
      View Details
    • $499,500
      2,210 SF

      Detached Home in Amberleigh Village

      Meticulously maintained home with primary bedroom on the first floor.
      9058 Amberhill Loop, North Chesterfield, VA 23236
      View Details
    • Contact for pricing

      Land Available on Hull Street

      2 to 8 acres available at signalized intersection.
      3701 Gregory Pond Rd, North Chesterfield, VA 23236
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      4,000 SF

      Class A Office Building

      Three-story office building with park and lake views for lease.
      720 Moorefield Park Dr, Richmond, VA 23236
      View Details
    • Contact for pricing
      2,821 SF

      Class A Office Building

      60,000 SF Class A office building with lake views.
      9100 Arboretum Pkwy, Richmond, VA 23236
      View Details
    • Contact for pricing
      4,246 SF

      Class A Office Building For Rent

      Single-story office building with lake views in Chesterfield County.
      9211 Arboretum Pkwy, Richmond, VA 23236
      View Details
    • $18 SF/Yr
      1,562 SF

      Renovated Office Suites For Lease

      Move-in ready office suites in amenity-rich Richmond location.
      812 Moorefield Park Dr, Richmond, VA 23236
      View Details
    • Contact for pricing
      75,000 SF

      Arboretum VI Executive Suites

      Premium Richmond Office Space Available
      9011 Arboretum Pkwy, Richmond, VA 23236
      View Details
    • $144 SF/Yr
      11,781 SF

      Richmond Office Suites Available

      Prime Chesterfield County office space. Multiple suites, flexible layouts.
      804 Moorefield Park Dr, Richmond, VA 23236
      View Details
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    620 Moorefield Park Dr
    Richmond, VA 23236
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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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