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    7100 Midlothian Tpke Richmond, VA 23225
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    Property profile & analytics

    7100 Midlothian Tpke Richmond, VA 23225

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    • Commercial real estate
    Off-Market
    Property ID
    US87-1003798
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Secure Tabs / Pharmacy
    • Spring Rock Green Center / Shopping Center & Mall

    Property Details for 7100 Midlothian Tpke

    Year built
    2025
    Property type
    Commercial real estate

    Description

    Springline at District 60 is a multiphase, mixed-use development at VA Route 60 (Midlothian Turnpike) and Chippenham Parkway, which carries over 120,000 vehicles per day. This $1 billion public/private partnership will feature more than 1,200 residential units, 120,000 SF of retail featuring a 12,000 to 25,000 SF grocer with national exposure, 300,000 SF of office space, 2 hotels, a large conference center and an anchor retail building focused on music and entertainment. Arts and fitness activities will be programmed for the project’s Celebration Park, a special entertainment and outdoor fitness space, along with other outdoor green space and a multi-use walking/running and biking path connecting with the adjacent Boulders Office Campus. Once complete, the project will offer Chesterfield County residents and the Richmond DMA a dynamic new destination and a catalyst for further redevelopment of Chesterfield County’s Midlothian corridor.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Richmond
    County
    Richmond City
    State
    Virginia
    Longitude
    -77.5270945
    Latitude
    37.5036664

    Comparable in this City

    • Contact for pricing

      Office Space in Richmond, VA

      Office space available for lease in Richmond, Virginia.
      7501 Boulders View Dr, Richmond, VA 23225
      View Details
    • Contact for pricing

      Retail Space For Lease

      Retail spaces available for lease.
      2545-2557 Forest Hill Ave, Richmond, VA 23225
      View Details
    • Contact for pricing
      1,264 SF

      Retail Space at Primary Intersection

      Retail space available at a primary retail intersection in Richmond.
      425-439 E Belt Blvd, Richmond, VA 23225
      View Details
    • Contact for pricing
      6,487 SF

      Office Space Near Chippenham Hospital

      Office space for rent, located across from Chippenham Hospital.
      681 Hioaks Rd, Richmond, VA 23225
      View Details
    • Contact for pricing

      Premium Office Facilities Near Downtown

      Eye-catching glass building with premium office facilities near downtown.
      7400 Beaufont Springs Dr, Richmond, VA 23225
      View Details
    • Contact for pricing
      1,900 SF

      Gas Station and Convenience Store

      1,900 SF gas/convenience store on approximately 1.66 acres.
      2000 Semmes Ave, Richmond, VA 23225
      View Details

    Similar Nearby for Sale

    • $695,000
      2,625 SF

      Retail Building in Richmond

      Retail building for sale in Richmond, Virginia.
      6150 Midlothian Tpke, Richmond, VA 23225
      View Details
    • Contact for pricing

      Commercial Land in Opportunity Zone

      Land available for commercial development in Chesterfield County.
      Chippenham Pkwy, North Chesterfield, VA 23225
      View Details
    • Contact for pricing

      Land Parcel with Existing Building

      One-acre land parcel with an 801 SF building for sale.
      6359 Jahnke Rd, Richmond, VA 23225
      View Details
    • Contact for pricing
      184,324 SF

      Established Retail Center For Sale

      Fully leased retail center adjacent to mixed-use development.
      7413 Midlothian Tpke, North Chesterfield, VA 23225
      View Details
    • Contact for pricing
      Pending

      Midlothian Turnpike Commercial Building

      Two-level, 30,000 sq ft building on 1.3 acres.
      5400 Midlothian Tpke, Richmond, VA 23225
      View Details
    • $825,000

      Turnkey Baskin-Robbins Franchise Opportunity

      Established Baskin-Robbins franchise for sale in a prime location.
      6940 Forest Hill Ave, Richmond, VA 23225
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Office Space in Richmond, VA

      Office space available for lease in Richmond, Virginia.
      7501 Boulders View Dr, Richmond, VA 23225
      View Details
    • Contact for pricing

      Retail Space For Lease

      Retail spaces available for lease.
      2545-2557 Forest Hill Ave, Richmond, VA 23225
      View Details
    • Contact for pricing
      1,264 SF

      Retail Space at Primary Intersection

      Retail space available at a primary retail intersection in Richmond.
      425-439 E Belt Blvd, Richmond, VA 23225
      View Details
    • Contact for pricing
      6,487 SF

      Office Space Near Chippenham Hospital

      Office space for rent, located across from Chippenham Hospital.
      681 Hioaks Rd, Richmond, VA 23225
      View Details
    • Contact for pricing

      Premium Office Facilities Near Downtown

      Eye-catching glass building with premium office facilities near downtown.
      7400 Beaufont Springs Dr, Richmond, VA 23225
      View Details
    • Contact for pricing
      1,900 SF

      Gas Station and Convenience Store

      1,900 SF gas/convenience store on approximately 1.66 acres.
      2000 Semmes Ave, Richmond, VA 23225
      View Details
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    7100 Midlothian Tpke
    Richmond, VA 23225
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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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