Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    8710 Midlothian Tpke North Chesterfield, VA 23235-5024
    Back to Search
    Property profile & analytics

    8710 Midlothian Tpke, North Chesterfield, VA 23235-5024

    View on Map
    • Hotels
    • 23,710 SF
    • 5.31 lot acres
    Off-Market
    Last Sale Jul 21, 2023
    $9,300,000
    Property ID
    US87-0063073
    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
    $9,215,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Holiday Inn Express Richmond E - Midlothian Trnpke, an IHG Hotel / Hotel & Motel

    Property Details for 8710 Midlothian Tpke

    Year built
    1986
    Lot size
    5.31 lot acres
    Zone code
    C5 - GEN BUSINESS DIST
    Property type
    Hotels
    APN
    756-70-54-16-100-000
    APU
    756705416100000

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jul 21, 2023 $9,300,000 Midlothian Hospitality LLC Gateway Hospitality Richmond LLC Special Warranty Deed $8.3M · Atlantic Union Bank
    Jul 21, 2023 — Midlothian Hospitality LLC — Deed · related $500k · U S Small Business Administration
    Apr 14, 2014 — Hospitality Richmond L Gateway — Grant Deed · related $7.6M · Sonabank NA
    Feb 20, 2007 $5,425,000 Gateway Hospitality Rich LLC King,ray W Trustees Deed —

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $8,495,000
      ML approach
      $9,770,000

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

    Location Insight

    • Map
    • Local Demand
    City
    North Chesterfield
    County
    Chesterfield
    State
    Virginia
    Longitude
    -77.5571
    Latitude
    37.4962
    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
    $85,294
    $2,799,300
    $6,584,500
    $9,383,800
    -
    $2,799,300
    $6,584,500
    $9,383,800

    Comparable in this City

    • Value Estimation by Request
      17,402 SF

      11551 Grn Spg Rd

      HOTEL
      11551 Grn Spg Rd, North Chesterfield, VA 23235-3764
      View Details
    • Value Estimation
      $1,025,000
      57,860 SF

      150 Pinetta Dr

      HOTEL
      150 Pinetta Dr, North Chesterfield, VA 23235-4937
      View Details
    • Value Estimation
      $5,205,000
      132,784 SF

      1021 Koger Ctr Blvd

      HOTEL
      1021 Koger Ctr Blvd, North Chesterfield, VA 23235-4752
      View Details
    • Value Estimation
      $810,000
      14,026 SF

      9826 Midlothian Tpke

      HOTEL
      9826 Midlothian Tpke, North Chesterfield, VA 23235-4812
      View Details
    • Value Estimation
      $1,390,000
      76,696 SF

      1350 Johnston Willis Dr

      HOTEL
      1350 Johnston Willis Dr, North Chesterfield, VA 23235-4726
      View Details
    • Value Estimation
      $1,855,000
      120,491 SF

      9901 Midlothian Tpke

      HOTEL
      9901 Midlothian Tpke, North Chesterfield, VA 23235-4813
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      41,806 SF

      Richmond Office Building For Sale

      Office building for sale in Richmond, Virginia.
      2500 Pocoshock Pl, 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, Chesterfield, VA 23235
      View Details
    • Contact for pricing

      Midlothian Turnpike Development Parcel

      Commercial development parcel with access to Providence Road.
      8212 Midlothian Tpke, Richmond, VA 23235
      View Details
    • Contact for pricing
      32,194 SF

      Bon Air Research and Clinical Laboratory

      32,194 SF research and clinical laboratory in Bon Air.
      601 Biotech Dr, Bon Air, VA 23235
      View Details
    • Contact for pricing

      Renovated Office Park with Monument Signage

      Recently renovated four-building office park offering office and medical suites, with prominent frontage, courtyard amenities, and ample parking.
      9321-9327 Midlothian Tpke, Midlothian, VA 23235
      View Details
    • Contact for pricing

      Commercial Development Parcel on Turnpike

      Commercial land for development with access to major parkways.
      8212 Midlothian Tpke, Richmond, VA 23235
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      5,640 SF

      Well-Appointed Office in James River

      Office space for rent with exterior signage and abundant light.
      10043 Midlothian Tpke, Richmond, VA 23235
      View Details
    • $16 SF/Yr
      27,700 SF

      High-Visibility Building on Route 360

      Versatile two-story building suitable for various uses along Route 360.
      8141 Hull Street Rd North, Richmond, VA 23235
      View Details
    • Contact for pricing
      2,197 SF

      Richmond Office Space For Rent

      Office park with recent renovations and medical center proximity.
      9327 Midlothian Tpke, Richmond, VA 23235
      View Details
    • Contact for pricing
      1,500 SF

      Retail Space on Midlothian Turnpike

      Retail space with frontage on Midlothian Turnpike available for lease.
      10409-10459 Midlothian Tpke N, Chesterfield, 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

      Strip Center on Midlothian Turnpike

      44,371 SF strip center with high traffic exposure.
      10401-10461 Midlothian Tpke, 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.
    8710 Midlothian Tpke
    North Chesterfield, VA 23235-5024
    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

    Thank You for Inquiry
    8710 Midlothian Tpke, North Chesterfield, VA, 23235
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!