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    7101 Forest Hill Ave Richmond, VA 23225
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    Property profile & analytics

    7101 Forest Hill Ave, Richmond, VA 23225

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    • Community centers
    • 39,810 SF
    • 15.31 lot acres
    For Lease
    $4,160,000
    View Listing →
    Retail Spaces Near Publix, Target For Lease
    $4,160,000

    Retail Spaces Near Publix, Target

    Retail spaces and outparcels available near Publix and Target.

    7101 & 7045 Forest Hill Ave, Richmond, VA 23225
    View Listing
    Property ID
    US87-0752201
    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

    • Domino's Pizza / Take-out & Catering
    • Bella Nails / Nail Salon
    • Sport Clips Haircuts of Richmond - Shops At Stratford Hills / Hair Salon
    • pOpshelf / (Bike/Boat/Book/etc) Store

    Property Details for 7101 Forest Hill Ave

    Year built
    1995
    Construction
    TYPE NOT SPECIFIED
    Lot size
    15.31 lot acres
    Zone code
    MULTIPLE ZONING
    Property type
    Community centers
    Property subtype
    Shopping centers
    APN
    C-004-0823-030
    APU
    C0040823030

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jun 27, 2023 — Chipp North 9 LLC — Deed · related $6.4M · United Bank
    Oct 28, 2005 — Pine Dell Corp Chippenham North Assoc LLC Grant Deed $11M · Miscellaneous Ins Co
    Mar 4, 2005 — Chippenham North LLC — Grant Deed · related $10.6M · First Cmnty Bk/las Cruces

    Description

    The Shops at Stratford Hills, a Class A retail strip center, presents a unique investment opportunity in Richmond, Virginia. Located at 7101 & 7045 Forest Hill Avenue in Chesterfield County (zip code 23225), this 54,500 square foot property boasts 12 suites, currently offering 11 available spaces. Built in 1995, the center provides a range of sizes, accommodating businesses needing anywhere from 1,100 square feet to a maximum contiguous space of 30,000 square feet. The property's strategic location offers excellent visibility and accessibility, benefiting from its proximity to established anchors such as Publix and Target. This presents a compelling opportunity for businesses seeking high-traffic locations within a thriving retail environment. The entire center is currently vacant, providing a blank canvas for a new tenant mix or a complete redevelopment. The property is classified as a multi-tenant strip center, ideal for a variety of retail and restaurant concepts. This is a rare chance to acquire a significant retail presence in a desirable Richmond market. The property's size and layout offer flexibility for a diverse range of tenants, making it an attractive investment for both individual businesses and larger portfolios. Contact us today to learn more about this exceptional opportunity.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $6,540,000
      Current use
      MEDICAL BUILDING
      $6,630,000
      Change: +1% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $6,400,000
      Change: -2% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $6,285,000
      Change: -4% Conversion: Easy
      OFFICE BUILDING
      $5,890,000
      Change: -10% Conversion: Moderate
      RETAIL STORES
      $5,735,000
      Change: -12% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Richmond
    County
    Richmond City
    State
    Virginia
    Longitude
    -77.5259
    Latitude
    37.535
    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
    2020
    $20
    $3,844,000
    $2,978,000
    $6,822,000
    -
    $3,844,000
    $2,978,000
    $6,822,000

    Comparable in this City

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      72,396 SF

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    • Value Estimation
      $4,970,000
      52,482 SF

      6849 Frst Hl Ave

      MINI-MALL
      6849 Frst Hl Ave, Richmond, VA 23225-1603
      View Details
    • Value Estimation
      $1,230,000
      15,500 SF

      6332 Midlothian Tpke

      SHOPPING CENTER, STRIP CENTER
      6332 Midlothian Tpke, Richmond, VA 23225-5722
      View Details
    • Value Estimation by Request
      1,140 SF

      Parham Rd & Brk Rd

      Neighborhood centers
      0 Parham Rd & Brk Rd, Henrico, VA 23225
      View Details
    • Value Estimation by Request
      3,570 SF

      2841 Hathaway Rd

      SHOPPING CENTER, STRIP CENTER
      2841 Hathaway Rd, Richmond, VA 23225-1725
      View Details
    • Value Estimation by Request
      213,950 SF

      6504-6550 Hull Street Rd

      Neighborhood centers
      6504-6550 Hull Street Rd, Richmond, VA 23225
      View Details

    Similar Nearby for Sale

    • 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
    • $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
      7,200 SF

      Modern Office/Retail Space Available

      7,200 SF office/retail space in Stonebridge Shopping Center.
      221 Stonebridge Plaza Ave, Richmond, VA 23225
      View Details
    • Contact for pricing
      1,175 SF

      Retail Space Near Major Retailers

      Retail space with high visibility, located near major retailers.
      7340 Forest Hill Ave, Richmond, VA 23225
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      30,000 SF

      Retail Space on Forest Hill

      Retail spaces available in future development on Forest Hill Avenue.
      6941 Forest Hill Ave, Richmond, VA 23225
      View Details
    • Contact for pricing
      3,080 SF

      Neighborhood Shopping Center Retail Space

      Neighborhood shopping center with strong traffic and immediate name recognition.
      2801-2845 Hathaway Rd, Richmond, VA 23225
      View Details
    • $36 SF/Yr
      8,748 SF

      Prime Retail Space in Richmond

      Kroger-anchored shopping center with suites available for lease.
      7000 Tim Price Way, Richmond, VA 23225
      View Details
    • Contact for pricing
      33,000 SF

      Retail Space with High Visibility

      Retail space with abundant parking and visibility in Richmond, VA.
      6500-6550 Hull Street Rd, Richmond, VA 23225
      View Details
    • Contact for pricing
      1,500 SF

      Retail Space Near Walmart Supercenter

      Inline retail space available near Chippenham Parkway and Forest Hill.
      2545-2557 Sheila Ln, Richmond, VA 23225
      View Details
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    7101 Forest Hill Ave
    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.

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