Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    8811 Rte 1st 1 North Chesterfield, VA 23237-2947
    Back to Search
    Property profile & analytics

    8811 Rte 1st 1, North Chesterfield, VA 23237-2947

    View on Map
    • Motels
    • 5,580 SF
    • 2.43 lot acres
    Off-Market
    Property ID
    US87-1073521
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Motels

    Property Details for 8811 Rte 1st 1

    Year built
    1957
    Lot size
    2.43 lot acres
    Zone code
    C5 - GEN BUSINESS DIST
    Property type
    Motels
    APN
    793-67-20-45-300-000
    APU
    793672045300000

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Sep 9, 2013 $500,000 Sandalwood Hotels LLC Patel,maganbhai K & Sushilaben M Grant Deed —

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    North Chesterfield
    County
    Chesterfield
    State
    Virginia
    Longitude
    -77.4323
    Latitude
    37.4044
    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
    $7,685
    $378,400
    $439,400
    $817,800
    -
    $378,400
    $439,400
    $817,800

    Comparable in this City

    • Value Estimation by Request
      13,387 SF

      8101 Rte 1st 1

      MOTEL
      8101 Rte 1st 1, North Chesterfield, VA 23237-1347
      View Details
    • Value Estimation
      $580,000
      18,664 SF

      2126 Willis Rd

      MOTEL
      2126 Willis Rd, North Chesterfield, VA 23237-2904
      View Details
    • Value Estimation by Request
      7,088 SF

      9301 Rte 1st 1

      MOTEL
      9301 Rte 1st 1, North Chesterfield, VA 23237-4627
      View Details
    • Value Estimation by Request
      4,738 SF

      2302 Willis Rd

      MOTEL
      2302 Willis Rd, North Chesterfield, VA 23237-4610
      View Details
    • Value Estimation by Request
      7,896 SF

      2125 Willis Rd

      MOTEL
      2125 Willis Rd, North Chesterfield, VA 23237-2903
      View Details
    • Value Estimation by Request
      17,244 SF

      9401 Rte 1st 1

      MOTEL
      9401 Rte 1st 1, North Chesterfield, VA 23237-4625
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      8,702 SF

      Route 1 Motel For Sale

      Motel with apartments on Route 1 and Perrymont Road.
      8924 Jefferson Davis Hwy, North Chesterfield, VA 23237
      View Details
    • Contact for pricing

      Richmond Land Parcel For Sale

      1.156-acre commercial land near I-95 in Richmond, VA.
      8211 Jefferson Davis Hwy, Richmond, VA 23237
      View Details
    • Contact for pricing

      Prime Land for Sale

      2.5 acres of commercial land with high traffic frontage.
      8001 Iron Bridge Rd, Richmond, VA 23237
      View Details
    • Contact for pricing

      Richmond Commercial Land Opportunity

      2.5-acre commercial land parcel in Richmond, Virginia.
      8011 Iron Bridge Rd, Richmond, VA 23237
      View Details
    • Contact for pricing
      4,400 SF

      Richmond Freestanding Office Building

      4,400 SF office on 0.95 acre lot for sale.
      1501 Willis Rd, North Chesterfield, VA 23237
      View Details
    • Contact for pricing
      Pending

      Richmond Land Opportunity

      22.54 acres of land available in Richmond, Virginia.
      2401 Elliham Ave, Richmond, VA 23237
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Truck Terminal with Outdoor Storage

      22,273 SF truck terminal with 3.8 acres outdoor storage.
      9600 Express Ln, Richmond, VA 23237
      View Details
    • Contact for pricing
      7,200 SF

      Office Building in Chesterfield County

      Office building for lease in Chesterfield County, Virginia.
      7734 Whitepine Rd N, Chesterfield, VA 23237
      View Details
    • Contact for pricing
      102,000 SF

      Chesterfield County Warehouse Space

      102,000 sq ft warehouse space in Chesterfield County, Virginia.
      1801 Willis Rd, Richmond, VA 23237
      View Details
    • Contact for pricing
      200,000 SF

      Richmond Industrial Space for Sublease

      Industrial space available for sublease in Richmond, Virginia.
      1410 Willis Rd, Richmond, VA 23237
      View Details
    • Contact for pricing
      2,851 SF

      Office Space Near Route 288

      Office spaces available with convenient access to Route 288.
      7361-7419 Whitepine Rd, Richmond, VA 23237
      View Details
    • Contact for pricing
      3,342 SF

      Office/Warehouse Flex Buildings

      Six office/warehouse buildings available for lease, providing mixed-use flex options for storage and back-office operations.
      7421-7441 Whitepine Rd, Richmond, VA 23237
      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.
    8811 Rte 1st 1
    North Chesterfield, VA 23237-2947
    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
    8811 Rte 1st 1, North Chesterfield, VA, 23237
    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!