Property profile

9301 Patterson Ave Richmond, VA 23229

OFF-MARKET
Retirement homes
Property ID
US87-1052215
265,116 SF
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Property summary

AI-generated overview

This exceptional 265,116 square foot vacant land parcel, located at 9301 Patterson Avenue in Richmond, Virginia (zip code 23229), presents a unique investment opportunity. The property is zoned R-6, having undergone rezoning in 2022 specifically for the development of a senior living or assisted living facility. Site plans have already received approval, a significant advantage streamlining the development process. This includes the crucial addition of a lighted and widened turn lane, enhancing accessibility and visibility. The property boasts convenient access to water and sewer utilities, eliminating significant infrastructure hurdles. Its prime location adjacent to the YMCA and within the vibrant Patterson Avenue neighborhood offers proximity to numerous amenities. The Henrico County location ensures a stable and desirable market for this type of development. The asking price for this shovel-ready site is $3,700,000. The APN is 748-741-8046. This is a truly exceptional opportunity to capitalize on the growing demand for senior living facilities in a highly desirable location.

Property profile

Verified
Property type Retirement homes
Total area 265,116 SF
UPID US87-1052215

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Location

9301 Patterson Ave Richmond, VA 23229
Richmond metro
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Value estimations

Realmo proprietary · 4 methods
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Owner & transaction history

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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