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    6701 Janway Rd Henrico, VA 23228-2809
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    Property profile & analytics

    6701 Janway Rd Henrico, VA 23228-2809

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    • Industrial properties
    • 21,564 SF
    • 0.82 lot acres
    Off-Market
    Property ID
    US87-1192018
    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
    $1,855,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Isalis / (Bike/Boat/Book/etc) Store
    • Party City / Party Supply Store / (Bike/Boat/Book/etc) Store
    • Skunk Funk / Big Box & Wholesale Store
    • Carl's Trading Co / Hat Shop
    • Bushka's Kitchen LLC / (Bike/Boat/Book/etc) Store

    Property Details for 6701 Janway Rd

    Year built
    1981
    Lot size
    0.82 lot acres
    Property size
    21,564 SF
    Zone code
    M-1
    Property type
    Industrial properties
    Property subtype
    Industrial live-work properties
    APN
    771-754-2766
    APU
    7717542766

    Description

    This exceptional Henrico County property, located at 6701 Janway Road, offers a unique blend of office and warehouse space. The building, classified as Class B, boasts a total of 21,564 square feet, with 3,747 square feet currently vacant and available for lease. The property is zoned M-1, allowing for a variety of industrial uses. The available space is situated on the second floor and offers flexible options ranging from 410 square feet to the full 3,747 square feet of vacant space. The building's strategic location at the corner of Janway Road and Sanford Drive in Henrico, Virginia (zip code 23228) provides excellent accessibility and visibility. The property is designated as a multi-tenant building, indicating a thriving and established business environment. This presents an ideal opportunity for businesses seeking warehouse or office space in a convenient and well-connected location within Henrico County. The property's size and flexible layout cater to a wide range of business needs, making it a highly attractive investment. Further details regarding lease terms and conditions are available upon request. Don't miss this chance to secure your business's future in this dynamic Henrico location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,899,000
      Market price range: $1.90M - $4.33M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $3,035,000
      Current use
      OFFICE BUILDING
      $3,035,000
      Change: +0% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Henrico
    County
    Henrico
    State
    Virginia
    Longitude
    -77.5042
    Latitude
    37.6306
    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
    $7,738
    $142,200
    $768,200
    $910,400
    -
    $142,200
    $768,200
    $910,400

    Comparable in this City

    • Value Estimation
      $4,620,000
      43,216 SF

      8501 Sanford Dr

      MIXED USE (COMMERCIAL/INDUSTRIAL) • 43,216 SF
      8501 Sanford Dr, Henrico, VA 23228-2812
      View Details
    • Value Estimation
      $770,000
      3,840 SF

      8010 Villa Park Dr

      MIXED USE (COMMERCIAL/INDUSTRIAL) • 3,840 SF
      8010 Villa Park Dr, Henrico, VA 23228-6500
      View Details
    • Value Estimation
      $1,445,000
      13,090 SF

      3090 Aspen Ave

      MIXED USE (COMMERCIAL/INDUSTRIAL) • 13,090 SF
      3090 Aspen Ave, Henrico, VA 23228-4945
      View Details
    • Value Estimation
      $3,710,000
      18,564 SF

      8033 Kimway Dr

      MIXED USE (COMMERCIAL/INDUSTRIAL) • 18,564 SF
      8033 Kimway Dr, Henrico, VA 23228-2816
      View Details
    • Value Estimation
      $940,000
      9,829 SF

      3101 Old Hilliard Rd

      MIXED USE (COMMERCIAL/INDUSTRIAL) • 9,829 SF
      3101 Old Hilliard Rd, Henrico, VA 23228-4947
      View Details
    • Value Estimation
      $550,000
      4,566 SF

      6803 Staples Ml Rd

      MIXED USE (COMMERCIAL/INDUSTRIAL) • 4,566 SF
      6803 Staples Ml Rd, Henrico, VA 23228-4929
      View Details

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    Similar Nearby for Lease

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      Industrial Flex Space Available

      Industrial flex spaces available for rent.
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      Industrial Warehouse with Office Space

      Class B industrial warehouse with office space for lease.
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      Henrico County Office/Flex Space

      Office/flex building with private offices, conference area, and kitchenette.
      6715-6719 Janway Rd, Richmond, VA 23228
      View Details
    • Contact for pricing
      5,000 SF

      Richmond Industrial Flex Space Available

      Flexible office/warehouse space with easy access to major routes.
      8580-8598 Sanford Dr, Richmond, VA 23228
      View Details
    • $9 SF/Yr

      Industrial Warehouse Near Richmond Airport

      22,506 SF industrial warehouse with office space for lease.
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    • $9 SF/Yr

      Industrial Warehouse with Office Space

      22,506 SF industrial warehouse with office space for lease.
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      View Details
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    Henrico, VA 23228-2809
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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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