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

    8605 Midlothian Tpke North Chesterfield, VA 23235-5125

    • Automotive properties
    • 2,653 SF
    • 1.01 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US87-0026863
    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

    • Enterprise Car Sales / Car Dealership

    Property Details for 8605 Midlothian Tpke

    Year built
    1981
    Lot size
    1.01 lot acres
    Property size
    2,653 SF
    Zone code
    C5 - GEN BUSINESS DIST
    Property type
    Automotive properties
    APN
    756-70-48-59-900-000
    APU
    756704859900000

    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
    North Chesterfield
    County
    Chesterfield
    State
    Virginia
    Longitude
    -77.5558
    Latitude
    37.4946
    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
    $9,069
    $553,800
    $417,800
    $971,600
    -
    $553,800
    $417,800
    $971,600

    Comparable in this City

    • Value Estimation
      $735,000
      16,873 SF

      10920 Midlothian Tpke

      VEHICLE SALES, RENTALS • 16,873 SF
      10920 Midlothian Tpke, North Chesterfield, VA 23235-4708
      View Details
    • Value Estimation by Request
      2,120 SF

      11135 Midlothian Tpke

      VEHICLE SALES, RENTALS • 2,120 SF
      11135 Midlothian Tpke, North Chesterfield, VA 23235-4711
      View Details
    • Value Estimation by Request
      9,726 SF

      7729 Midlothian Tpke

      VEHICLE SALES, RENTALS • 9,726 SF
      7729 Midlothian Tpke, North Chesterfield, VA 23235-5225
      View Details
    • Value Estimation by Request
      4,080 SF

      10200 Midlothian Tpke

      VEHICLE SALES, RENTALS • 4,080 SF
      10200 Midlothian Tpke, North Chesterfield, VA 23235-4404
      View Details
    • Value Estimation by Request
      5,217 SF

      8311 Midlothian Tpke

      VEHICLE SALES, RENTALS • 5,217 SF
      8311 Midlothian Tpke, North Chesterfield, VA 23235-5175
      View Details
    • Value Estimation by Request
      8,300 SF

      10531 Midlothian Tpke

      VEHICLE SALES, RENTALS • 8,300 SF
      10531 Midlothian Tpke, North Chesterfield, VA 23235-4409
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Car Wash on Midlothian Turnpike

      Car wash in prime location on Midlothian Turnpike corridor.
      8001 Midlothian Tpke, North Chesterfield, VA 23235
      View Details
    • $1,600,000
      4,950 SF

      Richmond Retail Investment Opportunity

      NNN Leased KinderCare, High Occupancy
      2621 Pocoshock Blvd, Richmond, VA 23235
      View Details
    • $109,999
      3.20 Acres

      Residential Land in Chesterfield, VA

      3.2 acres in Stonemill Creek subdivision, ready for building.
      1551 Twilight Ln, Richmond, VA 23235
      View Details
    • $500,000

      North Chesterfield Land For Sale

      2.3 acres of land in North Chesterfield, Virginia.
      6933 Walmsley Blvd, North Chesterfield, VA 23235
      View Details
    • $600,000

      Land Parcels in Bon Air

      Two commercial land parcels available with utilities and infrastructure.
      9151 Bon Air Crossings Dr, North Chesterfield, VA 23235
      View Details
    • Contact for pricing
      1.03 Acres

      Midlothian Turnpike Commercial Land

      Prime 1-acre commercial lot in Richmond, VA.
      8212 Midlothian Tpke, Richmond, VA 23235
      View Details

    Similar Nearby for Lease

    • $18 SF/Yr
      44,371 SF

      Pocono Green Retail Center

      Bon Air, VA Strip Mall - 6 Suites Available
      10401-10461 Midlothian Tpke, Bon Air, VA 23235
      View Details
    • Contact for pricing
      4,799 SF

      Richmond Retail Space For Rent

      Open-air retail space in Stony Point Fashion Park.
      9200 Stony Point Pkwy, Richmond, VA 23235
      View Details
    • Contact for pricing
      1,540 SF

      Retail Space on Midlothian Turnpike

      Retail space with high visibility on Midlothian Turnpike.
      11521 N Midlothian Tpke, Richmond, VA 23235
      View Details
    • Contact for pricing
      1,050 SF

      Robious Hall Retail Space For Lease

      1,050 SF Retail Space - High Visibility
      10064 Robious Rd, Bon Air, VA 23235
      View Details
    • $20 SF/Yr
      119,391 SF

      Chesterfield Marketplace Retail Space

      Prime Richmond retail space available.
      1205-1381 Carmia Way, Richmond, VA 23235
      View Details
    • $22 SF/Yr
      999 SF

      Restaurant Space with Patio Seating

      Endcap restaurant space with outdoor courtyard in Richmond, Virginia.
      8000-8006 Buford Ct, Richmond, VA 23235
      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.
    8605 Midlothian Tpke
    North Chesterfield, VA 23235-5125
    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.