Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    8450 Old Richfood Rd Mechanicsville, VA 23116-2021

    • Commercial real estate
    • 14,176 SF
    • 0.89 lot acres
    OFF-MARKET
    Value Estimations
    $1,320,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US87-0666040
    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

    • Mid-Atlantic Entry Systems, Inc / General Contractor / Construction Company

    Property Details for 8450 Old Richfood Rd

    Year built
    1980
    Lot size
    0.89 lot acres
    Property size
    14,176 SF
    Zone code
    M-2
    Property type
    Commercial real estate
    APN
    7795-78-0941
    APU
    7795780941

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Mechanicsville
    County
    Hanover
    State
    Virginia
    Longitude
    -77.415
    Latitude
    37.6416
    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
    $6,878
    $117,900
    $731,200
    $849,100
    -
    $117,900
    $731,200
    $849,100

    Comparable in this City

    • Value Estimation
      $545,000
      1.85 Acres

      8152 Pleasant Grv Rd

      COMMERCIAL (GENERAL) • 1.85 Acres
      8152 Pleasant Grv Rd, Mechanicsville, VA 23116-2343
      View Details
    • Value Estimation by Request
      57.85 Acres

      8250 Richfood Rd

      COMMERCIAL (GENERAL) • 57.85 Acres
      8250 Richfood Rd, Mechanicsville, VA 23116-2008
      View Details
    • Value Estimation by Request
      0.20 Acres

      7492 Right Flank Rd, Unit 2

      COMMERCIAL (GENERAL) • 0.20 Acres
      7492 Right Flank Rd, Mechanicsville, VA 23116-3834
      View Details
    • Value Estimation by Request
      0.21 Acres

      9235 Shady Grv Rd

      COMMERCIAL (GENERAL) • 0.21 Acres
      9235 Shady Grv Rd, Mechanicsville, VA 23116-2888
      View Details
    • Value Estimation by Request
      0.11 Acres

      9200 Ctr Oak Ct Ste C

      COMMERCIAL (GENERAL) • 0.11 Acres
      9200 Ctr Oak Ct Ste C, Mechanicsville, VA 23116-2769
      View Details
    • Value Estimation by Request
      1.65 Acres

      Chamberlayne Rd

      COMMERCIAL (GENERAL) • 1.65 Acres
      Chamberlayne Rd, Mechanicsville, VA 23116
      View Details

    Similar Nearby for Sale

    • $599,000
      2,588 SF

      Mechanicsville Commercial Property Investment

      Two Buildings, 1.84 Acres, High Visibility
      10370 Chamberlayne Rd, Mechanicsville, VA 23116
      View Details
    • $315,000
      1,204 SF

      Mechanicsville Office Condo For Sale

      1204 sq ft, 3 offices, great location
      7489 Right Flank Rd, Mechanicsville, VA 23116
      View Details
    • $680,000
      3,080 SF

      Mechanicsville Commercial Property

      Prime 3,080 SF Commercial Building, 0.7 Acres
      10211 Chamberlayne Rd, Mechanicsville, VA 23116
      View Details
    • $299,950
      1,500 SF

      Mechanicsville Commercial Warehouse Space

      1500 sq ft Warehouse/Office - $299,950
      8169 Pine Ridge Rd, Mechanicsville, VA 23116
      View Details
    • $2,000,000
      2.40 Acres

      Mechanicsville Commercial Land

      2.4-Acre Development Site, B-3 Zoning
      10019 Chamberlayne Rd, Mechanicsville, VA 23116
      View Details
    • Contact for pricing
      3,653 SF

      Mechanicsville Office Space For Sale

      Office property in Mechanicsville, constructed in 2006, M-1 zoning.
      7489 Right Flank Rd, Mechanicsville, VA 23116
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,422 SF

      Class A Medical Office Space

      Medical office space for lease near Memorial Regional Hospital.
      8266 Atlee Rd, Mechanicsville, VA 23116
      View Details
    • Contact for pricing
      1,176 SF

      New Retail/Office Center Space

      New construction retail/office space with excellent access and parking.
      Chamberlayne Rd, Mechanicsville, VA 23116
      View Details
    • Contact for pricing

      Pole Green Road Commercial Land

      1.28 acre commercial land for rent near Interstate 295.
      7389-7427 Pole Green Rd, Mechanicsville, VA 23116
      View Details
    • Contact for pricing
      1,600 SF

      Retail Space in Hanover Commons

      Retail space in Food Lion anchored shopping center for lease.
      9502 Chamberlayne Rd, Mechanicsville, VA 23116
      View Details
    • $32 SF/Yr
      6,500 SF

      Mechanicsville Retail Space Available

      New Construction, High-Traffic Location, Dunkin' Anchored
      8257 Meadowbridge Rd, Mechanicsville, VA 23116
      View Details
    • $15 SF/Yr
      4,800 SF

      Retail Space in Excellent Condition

      4,800 SF retail space for lease, fully built-out.
      9555 Kings Charter Dr, Mechanicsville, VA 23116
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    8450 Old Richfood Rd
    Mechanicsville, VA 23116-2021
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.