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    9826 Midlothian Tpke North Chesterfield, VA 23235-4812
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    Property profile & analytics

    9826 Midlothian Tpke, North Chesterfield, VA 23235-4812

    View on Map
    • Hotels
    • 14,026 SF
    • 1.75 lot acres
    Off-Market
    Property ID
    US87-0845982
    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
    $810,000
    Show details
    Cap Rate Potential
    8.8%
    Hotels
    Location Intelligence

    Current Use by Public Records

    • Best Western Plus Governor's Inn / Hotel & Motel
    • Blessed Driving School, LLC / Training Center / Vocational School

    Property Details for 9826 Midlothian Tpke

    Year built
    1987
    Lot size
    1.75 lot acres
    Zone code
    C3 - COMMUNITY BUS DIST
    Property type
    Hotels
    APN
    751-70-80-29-800-000
    APU
    751708029800000

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Oct 3, 2017 $4,900,000 Shaanta INC Viram Corp Grant Deed $4.1M · Bank Of Mckenney
    Oct 30, 2009 — Viram Corp — Deed Of Trust · related $2M · First Chatham Bank

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $815,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,190,000
      6.5%
      $1,100,000
      7%
      $1,020,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $516,000
      Market price range: $134k - $516k

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $1,335,000
      RESTAURANT
      $1,220,000
      INDUSTRIAL (GENERAL)
      $875,000
      AUTO REPAIR, GARAGE
      $850,000
      RETAIL STORES
      $750,000
      WAREHOUSE, STORAGE
      $520,000

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

    Location Insight

    • Map
    • Local Demand
    City
    North Chesterfield
    County
    Chesterfield
    State
    Virginia
    Longitude
    -77.5757
    Latitude
    37.5057
    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
    $47,683
    $711,500
    $4,531,000
    $5,242,500
    -
    $711,500
    $4,531,000
    $5,242,500

    Comparable in this City

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      76,696 SF

      1350 Johnston Willis Dr

      HOTEL
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      View Details
    • Value Estimation
      $1,855,000
      120,491 SF

      9901 Midlothian Tpke

      HOTEL
      9901 Midlothian Tpke, North Chesterfield, VA 23235-4813
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    • Value Estimation by Request
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      9848 Midlothian Tpke

      HOTEL
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    • Value Estimation by Request
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      11551 Grn Spg Rd

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      57,860 SF

      150 Pinetta Dr

      HOTEL
      150 Pinetta Dr, North Chesterfield, VA 23235-4937
      View Details
    • Value Estimation
      $9,215,000
      23,710 SF

      8710 Midlothian Tpke

      HOTEL
      8710 Midlothian Tpke, North Chesterfield, VA 23235-5024
      View Details

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      Residential Land in Chesterfield, VA

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      Midlothian Turnpike Development Parcel

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      Renovated Office Park with Monument Signage

      Recently renovated four-building office park offering office and medical suites, with prominent frontage, courtyard amenities, and ample parking.
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      Commercial Development Parcel on Turnpike

      Commercial land for development with access to major parkways.
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    Similar Nearby for Lease

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      5,640 SF

      Well-Appointed Office in James River

      Office space for rent with exterior signage and abundant light.
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      View Details
    • $16 SF/Yr
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      High-Visibility Building on Route 360

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      2,197 SF

      Richmond Office Space For Rent

      Office park with recent renovations and medical center proximity.
      9327 Midlothian Tpke, Richmond, VA 23235
      View Details
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      1,500 SF

      Retail Space on Midlothian Turnpike

      Retail space with frontage on Midlothian Turnpike available for lease.
      10409-10459 Midlothian Tpke N, Chesterfield, VA 23235
      View Details
    • Contact for pricing
      4,799 SF

      Richmond Retail Space For Rent

      Open-air retail space in Stony Point Fashion Park.
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      View Details
    • Contact for pricing

      Strip Center on Midlothian Turnpike

      44,371 SF strip center with high traffic exposure.
      10401-10461 Midlothian Tpke, Richmond, VA 23235
      View Details
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    North Chesterfield, VA 23235-4812
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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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