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    804 Moorefield Park Dr 23236, VA 23236
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    Property profile & analytics

    804 Moorefield Park Dr, 23236, VA 23236

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    • Office buildings
    • 18,444 SF
    • 3.79 lot acres
    For Lease
    $144 SF/Yr
    View Listing →
    Richmond Office Space for Lease For Lease
    $144 SF/Yr

    Richmond Office Space for Lease

    2642 SF Office, Prime Location

    Richmond, VA 23236
    View Listing
    Property ID
    US87-1257910
    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
    $8,175,000
    Cap Rate Potential
    2.3%
    Office buildings
    Location Intelligence

    Current Use by Public Records

    • Benjamin Lee Wiseman / Physician
    • Gallagher Insurance, Risk Management & Consulting / Insurance Agency
    • Gallagher Bassett Services / Business To Business Service
    • Monumental Life Insurance Co / Insurance Agency
    • Dr. Gordon Walker / Physician / Medical Clinic

    Property Details for 804 Moorefield Park Dr

    Year built
    1985
    Lot size
    3.79 lot acres
    Zone code
    O2 - CORP OFFICE DIST
    Property type
    Office buildings
    APN
    749-70-73-85-300-000
    APU
    749707385300000

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jun 16, 2021 $11,250,000 Kas Moorefield LLC Hertz Richmond Holdings LLC Special Warranty Deed $16.5M · Starwood Mortgage Capital LLC
    May 12, 2015 — Hertz Richmond Holdings LLC — Deed Of Trust · related $21.7M · Jp Morgan Chase Bk
    Mar 13, 2012 — Hertz Richmond Holdings LLC Parkway Properties LP Deed Of Trust · related $21.5M · Bank Of America
    Mar 13, 2012 $25,000,000 Hertz Richmond Holdings LLC Parkway Properties LP Grant Deed · related —

    Description

    This exceptional office space, located in the highly sought-after Moorefield Office Park in Richmond, Virginia 23236, offers multiple suites ranging from 2,642 to 3,195 square feet. These customizable, well-designed layouts are ideal for businesses of all sizes. The property boasts abundant natural light, creating a welcoming and productive work environment. High-speed internet access and modern HVAC systems ensure optimal comfort and efficiency. Ample on-site parking is available for employees and visitors. The location provides convenient access to major highways, including Route 60 and I-288, simplifying commutes. Nearby restaurants, shopping centers, and other amenities offer convenience for both employees and clients. Situated in a quiet, professional business park with premier tenants and well-maintained surroundings, this space presents a highly visible, professional location within Richmond's thriving suburban market. The lease offers flexibility, allowing businesses to upsize to larger suites as needed. This property prioritizes a positive tenant experience, addressing maintenance issues promptly and fostering a strong tenant-landlord relationship. The space is designed to foster productivity, collaboration, and employee well-being, incorporating modern architectural design and flexible workspaces.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $8,710,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $6,751,000
      Market price range: $1.93M - $10.3M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $6,080,000
      Current use
      RESTAURANT
      $5,190,000
      Change: -15% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    North Chesterfield
    County
    Chesterfield
    State
    Virginia
    Longitude
    -77.5814
    Latitude
    37.5018
    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
    $23,626
    $966,300
    $1,590,700
    $2,557,000
    -
    $966,300
    $1,590,700
    $2,557,000

    Comparable in this City

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      11,880 SF

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    • Value Estimation
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      11600 Busy St

      OFFICE BUILDING
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    • Value Estimation
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      16,801 SF

      808 Moorefield Park Dr

      OFFICE BUILDING
      808 Moorefield Park Dr, North Chesterfield, VA 23236-3683
      View Details
    • Value Estimation
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      500 SF

      10810 Trade Rd

      OFFICE BUILDING
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      View Details
    • Value Estimation
      $1,110,000
      7,500 SF

      9700 Farrar Ct

      OFFICE BUILDING
      9700 Farrar Ct, North Chesterfield, VA 23236-3665
      View Details
    • Value Estimation
      $530,000
      2,437 SF

      9413 Hull St Rd

      OFFICE BUILDING
      9413 Hull St Rd, North Chesterfield, VA 23236-1246
      View Details

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      Prime Corner Lot Opportunity

      Ideal for quick-service restaurant with double drive-thru.
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      Hull Street Road Land Parcel

      11-acre land parcel with frontage on Hull Street.
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      Corner Commercial Land For Sale

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      Land Available on Hull Street

      2 to 8 acres available at signalized intersection.
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      17,700 SF

      Automotive Property with Outside Storage

      17,700 SF property on 2.49 acres, C-5 zoning.
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    Similar Nearby for Lease

    • Contact for pricing
      2,240 SF

      Class A Office Building

      Three-story office building with park and lake views for lease.
      720 Moorefield Park Dr, Richmond, VA 23236
      View Details
    • Contact for pricing
      844 SF

      Renovated Office Suites For Lease

      Move-in ready office suites in amenity-rich Richmond location.
      812 Moorefield Park Dr, Richmond, VA 23236
      View Details
    • Contact for pricing
      2,821 SF

      Class A Office Building

      60,000 SF Class A office building with lake views.
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    • $19 SF/Yr
      13,505 SF

      Richmond Office Space For Rent

      Office building with 13,505 square feet available for lease.
      10501 Trade Ct, Richmond, VA 23236
      View Details
    • Contact for pricing
      4,246 SF

      Class A Office Building For Rent

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      View Details
    View Listing
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    23236, VA 23236
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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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