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

    703 Courthouse Rd North Chesterfield, VA 23236-4069

    • Commercial real estate
    • 3,059 SF
    • 5.30 lot acres
    OFF-MARKET
    Value Estimations
    $505,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US87-1029453
    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

    • Dominion Behavioral Healthcare: Taaffe Paul J PHD / Physician / Medical Clinic
    • Jennifer Bagsby / Foster Care Service / Social Service Agency
    • Dr. David W. Gould III, MD / Physician / Medical Clinic
    • Custard Insurance Adjusters / Insurance Agency
    • Behavioral Health Partners / Psychologist / Family Counselor

    Property Details for 703 Courthouse Rd

    Year built
    1983
    Lot size
    5.30 lot acres
    Property size
    3,059 SF
    Zone code
    O2 - CORP OFFICE DIST
    Property type
    Commercial real estate
    APN
    741-70-75-70-700-004
    APU
    741707570700004

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $635,000
      6.5%
      $590,000
      7%
      $545,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $403,000
      Market price range: $150k - $629k

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $745,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    North Chesterfield
    County
    Chesterfield
    State
    Virginia
    Longitude
    -77.6082
    Latitude
    37.5007
    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
    $5,977
    $96,600
    $534,100
    $630,700
    -
    $96,600
    $534,100
    $630,700

    Comparable in this City

    • Value Estimation by Request
      0.24 Acres

      9449 Amberdale Dr

      COMMERCIAL (GENERAL) • 0.24 Acres
      9449 Amberdale Dr, North Chesterfield, VA 23236-1249
      View Details
    • Value Estimation by Request
      0.01 Acres

      211 Arboretum Pl

      COMMERCIAL (GENERAL) • 0.01 Acres
      211 Arboretum Pl, North Chesterfield, VA 23236-3485
      View Details
    • Value Estimation
      $2,450,000
      20,674 SF

      10531 Trade Ct

      COMMERCIAL (GENERAL) • 20,674 SF
      10531 Trade Ct, North Chesterfield, VA 23236-3993
      View Details
    • Value Estimation
      $1,060,000
      4,660 SF

      9401 Amberdale Dr

      COMMERCIAL (GENERAL) • 4,660 SF
      9401 Amberdale Dr, North Chesterfield, VA 23236-1249
      View Details
    • Value Estimation by Request
      7.43 Acres

      818 Moorefield Park Dr

      COMMERCIAL (GENERAL) • 7.43 Acres
      818 Moorefield Park Dr, North Chesterfield, VA 23236-3659
      View Details
    • Value Estimation by Request
      1.70 Acres

      9703 Metropolitan Ct

      COMMERCIAL (GENERAL) • 1.70 Acres
      9703 Metropolitan Ct, North Chesterfield, VA 23236-3662
      View Details

    Similar Nearby for Sale

    • $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
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      Corner Commercial Land For Sale

      1.16+ acre commercial site at high-traffic intersection.
      15 N Courthouse Rd, Richmond, VA 23236
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      Richmond Commercial Land For Sale

      Commercial land with utilities and stormwater access in Richmond, VA.
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      Chesterfield County Townhome Opportunity

      3-bedroom townhome with walkout basement, ideal for living or investment.
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      View Details
    • $499,500
      2,210 SF

      Detached Home in Amberleigh Village

      Meticulously maintained home with primary bedroom on the first floor.
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      Land Available on Hull Street

      2 to 8 acres available at signalized intersection.
      3701 Gregory Pond Rd, North Chesterfield, VA 23236
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    Similar Nearby for Lease

    • 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
    • $144 SF/Yr

      Richmond Office Space for Lease

      2939 SF Office, Prime Location
      804 Moorefield Park Dr, Richmond, VA 23236
      View Details
    • $30 SF/Yr
      17,694 SF

      Retail Space Available For Lease

      Retail space available for lease in North Chesterfield, VA.
      601 Southlake Blvd, North Chesterfield, VA 23236
      View Details
    • $1,100 /Mo
      1,072 SF

      Office Space with Loft Area

      Office space featuring a loft, customizable floor plans, and ample parking.
      400 Southlake Blvd, North Chesterfield, VA 23236
      View Details
    • Contact for pricing
      8,450 SF

      Retail Space in Anchored Center

      Retail space available in a Food Lion anchored shopping center.
      1100 Courthouse Rd, North Chesterfield, VA 23236
      View Details
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    703 Courthouse Rd
    North Chesterfield, VA 23236-4069
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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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