8401 Patterson Ave Henrico, VA 23229-6430

Property Details for 8401 Patterson Ave

Year built

1983

Lot size

1.16 lot acres

Property size

12,146 SF

Zone code

R-5C

Property type

Office buildings

APN

755-741-2819

APU

7557412819

Description

This exceptional investment opportunity presents a fully leased, two-story, 13,923 square foot Class B office building situated on 1.159 acres in desirable Western Henrico County, Virginia. Built in 1983, the property boasts a 100% occupancy rate with a strong, long-term tenant base, ensuring immediate and stable cash flow. The efficient floor plan, featuring minimal core space and a finished basement, maximizes rentable area and minimizes operational costs. The multi-tenant structure, with a concentration of sub-2,000 square foot occupancies, reduces vacancy risk. Ample on-site parking is available. Located at 8401 Patterson Avenue, Richmond, VA 23229 (APN 755-741-2819), this property benefits from its proximity to the Regency Mall redevelopment and a thriving neighborhood offering abundant retail, dining, and services. The building's colonial style architecture and professional layout provide a desirable environment for tenants. Light cosmetic renovations to lobbies and entryways present a value-add opportunity to increase rental income in this highly sought-after submarket. This well-maintained asset, zoned R5C, offers a compelling combination of stable performance and significant growth potential, making it an ideal addition to any investment portfolio. The asking price is $1,600,000.

Location Insight

City

Henrico

County

Henrico

State

Virginia

Longitude

-77.5599

Latitude

37.594

CBSA code

40060

CBSA name

RICHMOND, VA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments