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

    7061 Cmns Plz Chesterfield, VA 23832-6456

    • Retail space
    • 4,500 SF
    • 0.68 lot acres
    OFF-MARKET
    Last Sale
    Jan 25, 2022
    $1,350,000
    Value Estimations
    $1,295,000
    Show details
    Cap Rate Potential
    4.5%
    Retail space
    Location Intelligence
    Property ID
    US87-1264601
    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

    • Retail space

    Property Details for 7061 Cmns Plz

    Year built
    2003
    Lot size
    0.68 lot acres
    Property size
    4,500 SF
    Zone code
    C3 - COMMUNITY BUS DIST
    Property type
    Retail space
    APN
    770-66-17-27-400-000
    APU
    770661727400000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,275,000
      ML approach
      $1,240,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $950,000
      6.5%
      $875,000
      7%
      $815,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,267,000
      Market price range: $391k - $1.44M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $910,000
      Current use
      COMMERCIAL (GENERAL)
      $1,400,000
      Change: +54% Conversion: Easy
      AUTO REPAIR, GARAGE
      $1,115,000
      Change: +22% Conversion: Difficult
      OFFICE BUILDING
      $885,000
      Change: -3% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Chesterfield
    County
    Chesterfield
    State
    Virginia
    Longitude
    -77.5095
    Latitude
    37.3754
    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
    $8,356
    $336,600
    $578,200
    $914,800
    -
    $336,600
    $578,200
    $914,800

    Comparable in this City

    • Value Estimation
      $910,000
      7,489 SF

      6213 Belmont Rd

      RETAIL STORES (PERSONAL SERVICES) • 7,489 SF
      6213 Belmont Rd, Chesterfield, VA 23832-8210
      View Details
    • Value Estimation
      $1,160,000
      7,000 SF

      14842 Hull St Rd

      RETAIL STORES (PERSONAL SERVICES) • 7,000 SF
      14842 Hull St Rd, Chesterfield, VA 23832-2533
      View Details
    • Value Estimation
      $1,610,000
      10,397 SF

      9951 Iron Brg Rd

      RETAIL STORES (PERSONAL SERVICES) • 10,397 SF
      9951 Iron Brg Rd, Chesterfield, VA 23832
      View Details
    • Value Estimation by Request
      2,640 SF

      3600 Courthouse Rd

      RETAIL STORES (PERSONAL SERVICES) • 2,640 SF
      3600 Courthouse Rd, Chesterfield, VA 23832-7279
      View Details
    • Value Estimation
      $1,720,000
      12,336 SF

      6921 Cmns Plz

      RETAIL STORES (PERSONAL SERVICES) • 12,336 SF
      6921 Cmns Plz, Chesterfield, VA 23832-6457
      View Details
    • Value Estimation
      $1,205,000
      7,250 SF

      14810 Hull St Rd

      RETAIL STORES (PERSONAL SERVICES) • 7,250 SF
      14810 Hull St Rd, Chesterfield, VA 23832
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      2,500 SF

      Prime Mixed-Use Development Opportunity

      Retail, restaurant, and medical space in a high-growth Richmond area.
      9201 Iron Brg Rd & Courthouse Rd, Chesterfield, VA 23832
      View Details
    • Contact for pricing
      1.20 Acres

      Courthouse Commons Retail Pad Site

      1.2-acre retail pad, prime Chesterfield location.
      7000 Cmns Plz, Chesterfield, VA 23832
      View Details
    • $485,000

      Chesterfield Specialty Property For Sale

      Specialty property available for purchase in Chesterfield, Virginia.
      8518 Easton Ridge Pl, Chesterfield, VA 23832
      View Details
    • Contact for pricing

      Land For Sale

      Land for sale with office/retail potential.
      14909 Hull Street Rd, Chesterfield, VA 23832
      View Details
    • Contact for pricing

      98 Acres Prime Chesterfield Location

      98 acres for commercial or residential development in Chesterfield, VA.
      9822 Iron Bridge Rd, Chesterfield, VA 23832
      View Details
    • $55,500
      Pending

      Residential Land in Chesterfield

      One-acre wooded lot in established residential community.
      3136 Turner Rd, North Chesterfield, VA 23832
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      3,500 SF

      Retail Space on Hull Street

      Retail space available for lease on Hull Street Road.
      13518 Hull Street Rd, Chesterfield, VA 23832
      View Details
    • Contact for pricing
      2,500 SF

      Retail Space at Centralia Road

      Retail space available in a thriving trade area.
      6421-6429 Centralia Rd, Chesterfield, VA 23832
      View Details
    • Contact for pricing
      1,253 SF

      Retail Space Near Route 288

      Retail spaces available in high-traffic Chesterfield location near Route 288.
      6921-6945 Commons Plz, Chesterfield, VA 23832
      View Details
    • Contact for pricing
      1,375 SF

      Retail Space in Growing Area

      Retail space with high daytime employment and excellent access.
      6525 Centralia Rd, Chesterfield, VA 23832
      View Details
    • Contact for pricing
      89,497 SF

      Cosby Village Square: Prime Retail Space

      Chesterfield, VA: Multi-use commercial property for lease.
      15701 Hull Street Rd, Chesterfield, VA 23832
      View Details
    • $30 SF/Yr
      50,775 SF

      Hull Street Road Medical Office

      Modern medical office space for lease in Chesterfield, VA.
      14400 Hull Street Rd, Chesterfield, VA 23832
      View Details
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    Chesterfield, VA 23832-6456
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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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