9301 Patterson Ave, Richmond, VA 23229
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.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendComparables
2 recent transactions · within 1.5 miComparable in this City
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Property description
Physical attributes from public recordsZoning & alternative use
No recorded transactions found for this property.
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Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.