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    Property profile & analytics

    9801 Chester Rd Chester, VA 23831-1104

    • Shopping centers
    • 7,023 SF
    • 6.58 lot acres
    OFF-MARKET
    Last Sale
    Apr 22, 2020
    $4,041,000
    Value Estimations
    $3,680,000
    Show details
    Cap Rate Potential
    3.2%
    Shopping centers
    Location Intelligence
    Property ID
    US87-3864924
    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

    • Coinstar Kiosk | Bitcoin ATM / Atm / Currency Exchange Service
    • Food Lion / Grocery & Convenience Store / Food Market
    • CENTRALIA CROSSING / Shopping Center & Mall
    • Western Union / Bank / Credit Union
    • ATM / Atm

    Property Details for 9801 Chester Rd

    Year built
    1991
    Lot size
    6.58 lot acres
    Property size
    7,023 SF
    Zone code
    C3 - COMMUNITY BUS DIST
    Property type
    Shopping centers
    Property subtype
    Specialty properties
    APN
    787-66-58-02-000-000
    APU
    787665802000000

    Description

    Centralia Crossing Shopping Center offers exceptional retail opportunities in Chesterfield County. This established strip mall boasts a total of 50,724 square feet and currently has two available spaces ranging from 1,200 to 7,100 square feet. The center is anchored by a high-performing Food Lion grocery store, which has recently experienced a 20% increase in sales. This strong anchor tenant contributes to significant foot traffic and a thriving retail environment. The property features ample parking to comfortably accommodate all shoppers and has recently undergone improvements including the installation of new parking lot lighting. For businesses seeking expansion, a 4,800 square foot build-to-suit end cap space is available for development. Centralia Crossing enjoys a convenient location with close proximity to Route 288 on Chester Road, ensuring excellent visibility and accessibility for customers. This is a prime opportunity for businesses seeking a well-established location in a high-traffic area with a proven track record of success. The available spaces offer flexibility for a variety of retail uses, making this an attractive investment for both established businesses and new ventures.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $3,420,000
      ML approach
      $3,225,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Chester
    County
    Chesterfield
    State
    Virginia
    Longitude
    -77.4508
    Latitude
    37.3844
    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
    $30,734
    $885,400
    $2,298,900
    $3,184,300
    -
    $885,400
    $2,298,900
    $3,184,300

    Comparable in this City

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    • Value Estimation by Request
      884 SF

      12601 Rte 1st 1

      SHOPPING CENTER COMMON AREA • 884 SF
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    • Value Estimation by Request
      4,260 SF

      11700 Rte 1st 1

      SHOPPING CENTER COMMON AREA • 4,260 SF
      11700 Rte 1st 1, Chester, VA 23831-2124
      View Details
    • Value Estimation
      $590,000
      29,825 SF

      10322 Iron Brg Rd

      SHOPPING CENTER COMMON AREA • 29,825 SF
      10322 Iron Brg Rd, Chester, VA 23831-1425
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    • Value Estimation
      $1,535,000
      53,655 SF

      12100 Bermuda Xrd Ln

      SHOPPING CENTER COMMON AREA • 53,655 SF
      12100 Bermuda Xrd Ln, Chester, VA 23831-2345
      View Details
    • Value Estimation by Request
      11,500 SF

      10400 Iron Brg Rd

      SHOPPING CENTER COMMON AREA • 11,500 SF
      10400 Iron Brg Rd, Chester, VA 23831-1427
      View Details

    Similar Nearby for Sale

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      Chester Village Outparcel Retail Space

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      Retail center in Chester, Virginia with excellent accessibility.
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      Chester Village Retail Center

      Prime Retail Space, High Traffic Area
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    • $350,000
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      Jefferson Davis Hwy Retail Pad

      High-traffic Chester, VA retail site.
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      3,010 SF

      Retail Property in Chester, Virginia

      Retail property with 3,010 square feet of space.
      12441 Redwater Creek Rd, Chester, VA 23831
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    Similar Nearby for Lease

    • Contact for pricing
      1,350 SF

      Retail Space Near Walmart Anchor

      2,700 SF retail space with high traffic and strong demographics.
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      Prime Chester Retail Pad

      High-visibility land, ideal for development.
      12141 Jefferson Davis Hwy, Chester, VA 23831
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      1,200 SF

      Retail Space on Iron Bridge

      Retail space available at a signalized intersection on Iron Bridge.
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    • Contact for pricing
      2,658 SF

      Retail Space Available for Lease

      2,658 SF retail space with high visibility and signage.
      12540 Jefferson Davis Hwy, Chester, VA 23831
      View Details
    • Contact for pricing
      7,400 SF

      Office/Medical Space on Iron Bridge

      Office and medical spaces available for lease on Iron Bridge.
      12240 Iron Bridge Rd, Chester, VA 23831
      View Details
    • Contact for pricing
      6,318 SF

      Second Floor Office Space Available

      6,318 SF office space with elevator access.
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      View Details
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    9801 Chester Rd
    Chester, VA 23831-1104
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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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