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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    943 Airport Dr Henrico, VA 23231-6100

    • Warehouses
    • 278,967 SF
    • 26.07 lot acres
    OFF-MARKET
    Value Estimations
    $15,865,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US87-0587992
    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

    • Warehouses

    Property Details for 943 Airport Dr

    Year built
    2022
    Lot size
    26.07 lot acres
    Property size
    278,967 SF
    Zone code
    M1-C
    Property type
    Warehouses
    Property subtype
    Self storage facilities
    APN
    819-702-7829
    APU
    8197027829

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $23,930,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Henrico
    County
    Henrico
    State
    Virginia
    Longitude
    -77.3389
    Latitude
    37.4851
    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
    $182,748
    $1,694,500
    $17,918,500
    $19,613,000
    -
    $1,694,500
    $17,918,500
    $19,613,000

    Comparable in this City

    • Value Estimation
      $5,115,000
      62,509 SF

      3801 Williamsburg Rd

      MINI-WAREHOUSE, STORAGE • 62,509 SF
      3801 Williamsburg Rd, Henrico, VA 23231-2621
      View Details
    • Value Estimation
      $25,260,000
      446,500 SF

      953 Airport Dr

      MINI-WAREHOUSE, STORAGE • 446,500 SF
      953 Airport Dr, Henrico, VA 23231-6100
      View Details
    • Value Estimation
      $3,845,000
      53,460 SF

      2250 Charles City Rd

      MINI-WAREHOUSE, STORAGE • 53,460 SF
      2250 Charles City Rd, Henrico, VA 23231-4341
      View Details
    • Value Estimation
      $17,005,000
      202,560 SF

      2600 Distribution Dr

      MINI-WAREHOUSE, STORAGE • 202,560 SF
      2600 Distribution Dr, Henrico, VA 23231-5410
      View Details
    • Value Estimation
      $2,915,000
      47,903 SF

      4500 Oakleys Ln

      MINI-WAREHOUSE, STORAGE • 47,903 SF
      4500 Oakleys Ln, Henrico, VA 23231-2912
      View Details
    • Value Estimation
      $2,100,000
      28,725 SF

      5109 Gln Alden Dr

      MINI-WAREHOUSE, STORAGE • 28,725 SF
      5109 Gln Alden Dr, Henrico, VA 23231-4318
      View Details

    Similar Nearby for Sale

    • $1,500,000
      119.23 Acres

      Prime Henrico County Industrial Land

      119 Acres, I-295 Access, $1.5M
      6743 Beulah Rd, Chesterfield, VA 23231
      View Details
    • Contact for pricing

      Henrico County Land Auction

      28+ Acres, Development Potential
      3740 Charles City Rd, Richmond, VA 23231
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    • $85,000
      0.11 Acres

      Land in Richmond, Virginia

      Vacant land available for building a house or rental property.
      5713 Campbell Ave, Richmond, VA 23231
      View Details
    • $99,950
      0.36 Acres

      Residential Lot in Historic Henrico

      Residential land in a classic neighborhood, close to downtown.
      6016 New Osborne Tpke, Richmond, VA 23231
      View Details
    • $1,700,000
      Pending

      70 Acres Developable Land, Henrico

      70 acres of developable land, existing house conveys as-is.
      3622 Darbytown Ct, Richmond, VA 23231
      View Details
    • $89,950
      0.92 Acres

      Two Residential Lots in Henrico

      Two approved residential lots to be sold together.
      4601 Millers Ln, Richmond, VA 23231
      View Details

    Similar Nearby for Lease

    • $7 SF/Yr
      30,920 SF

      Richmond Industrial Warehouse Space Available

      20,694 SF industrial space with rail access for lease.
      4200-4222 Sarellen Rd, Richmond, VA 23231
      View Details
    • Contact for pricing
      25,500 SF

      Industrial Warehouse with Office Space

      Industrial property featuring warehouse space and office component for lease.
      6601 S Laburnum Ave, Richmond, VA 23231
      View Details
    • Contact for pricing
      583,100 SF

      Class A Distribution Facility

      583,100 SF Class A distribution facility with 2025 delivery.
      7001 S Laburnum Ave, Richmond, VA 23231
      View Details
    • Contact for pricing
      41,185 SF

      Richmond Industrial/Warehouse/Distribution Space

      98-acre park near Richmond Airport with flexible spaces.
      5601-5659 Eastport Blvd, Richmond, VA 23231
      View Details
    • Contact for pricing
      6,272 SF

      Richmond Warehouse Space Available

      6,272 SF warehouse space for rent in Richmond, VA.
      2031 Jennie Scher Rd, Richmond, VA 23231
      View Details
    • Contact for pricing
      11,686 SF

      Richmond Flex/Warehouse/Distribution Space

      98-acre park near Richmond Airport and major interstates.
      5600-5626 Eastport Blvd, Richmond, VA 23231
      View Details
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    943 Airport Dr
    Henrico, VA 23231-6100
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    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
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