Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    9930 Independence Park Dr Richmond, VA 23233

    Property Lookup

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

    9930 Independence Park Dr Richmond, VA 23233

    View on Map
    • Medical Office Space
    • 30,100 SF
    • 3.67 lot acres
    For Lease
    $2,940,000
    View Listing →
    Medical/Office Building in Independence Park For Lease
    $2,940,000
    19,258 SF

    Medical/Office Building in Independence Park

    Premier medical/office spaces available in a well-maintained building.

    9930 Independence Park Drive, Richmond, VA 23233
    View Listing
    Property ID
    US87-3927962
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Isalis / (Bike/Boat/Book/etc) Store
    • Party City / Party Supply Store / (Bike/Boat/Book/etc) Store
    • Skunk Funk / Big Box & Wholesale Store
    • Carl's Trading Co / Hat Shop
    • Bushka's Kitchen LLC / (Bike/Boat/Book/etc) Store

    Property Details for 9930 Independence Park Dr

    Year built
    2006
    Lot size
    3.67 lot acres
    Property size
    30,100 SF
    Zone code
    M-1
    Property type
    Medical Office Space
    Property subtype
    Medical centers
    APN
    752-756-0070
    APU
    7527560070

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,592,000
      Market price range: $2.67M - $7.74M

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $4,840,000
      COMMERCIAL (GENERAL)
      $4,755,000
      OFFICE BUILDING
      $4,450,000
      RETAIL STORES
      $4,335,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Henrico
    County
    Henrico
    State
    Virginia
    Longitude
    -77.5707
    Latitude
    37.6367
    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
    2023
    $38,211
    $719,400
    $3,884,300
    $4,603,700
    -
    $719,400
    $3,884,300
    $4,603,700

    Comparable in this City

    • Value Estimation
      $7,140,000
      49,576 SF

      12320 Broad St

      MEDICAL BUILDING • 49,576 SF
      12320 Broad St, Henrico, VA 23233-7603
      View Details
    • Value Estimation
      $755,000
      6,249 SF

      12390 3rd Chopt Rd

      MEDICAL BUILDING • 6,249 SF
      12390 3rd Chopt Rd, Henrico, VA 23233-7790
      View Details
    • Value Estimation
      $925,000
      6,490 SF

      3370 Pump Rd

      MEDICAL BUILDING • 6,490 SF
      3370 Pump Rd, Henrico, VA 23233-1130
      View Details
    • Value Estimation
      $2,605,000
      22,840 SF

      11934 Broad St

      MEDICAL BUILDING • 22,840 SF
      11934 Broad St, Henrico, VA 23233-1100
      View Details
    • Value Estimation by Request
      3,096 SF

      3460 Mayland Ct Ste, Unit 100

      MEDICAL BUILDING • 3,096 SF
      3460 Mayland Ct Ste, Henrico, VA 23233-1401
      View Details
    • Value Estimation
      $725,000
      6,200 SF

      3460 Mayland Ct Ste, Unit 110

      MEDICAL BUILDING • 6,200 SF
      3460 Mayland Ct Ste, Henrico, VA 23233-1454
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      91,752 SF

      Class A Office Building

      91,752± SF Class A office building for sale or lease.
      100 Westgate Pkwy, Richmond, VA 23233
      View Details
    • Contact for pricing

      One Acre Business Lot

      One acre commercial lot near I-64 exit.
      12913 Plaza Dr, Henrico, VA 23233
      View Details
    • Contact for pricing

      Commercial Land Near Interstate 64

      1.25 acres of commercial land for sale.
      12909 Plaza Dr, Henrico, VA 23233
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      19,258 SF

      Medical/Office Building in Independence Park

      Premier medical/office spaces available in a well-maintained building.
      9930 Independence Park Dr, Richmond, VA 23233
      View Details
    • Contact for pricing
      2,241 SF

      Medical/Office Building in Independence Park

      Well-appointed medical and office building with easy interstate access.
      9900 Independence Park Dr, Richmond, VA 23233
      View Details
    • Sponsored
      Contact for pricing

      Westerre Parkway

      Discover many ways to work your way in Westerre Parkway
      3900 Westerre Pkwy, Richmond, VA 23233
      View Details
    • Contact for pricing
      1,719 SF

      Office Space Available For Rent

      Office space available for rent in Richmond, Virginia.
      9954 Mayland Dr, Richmond, VA 23233
      View Details
    • Contact for pricing

      Commercial Space for Lease

      Commercial space available for lease in Henrico, Virginia.
      12592 Broad Street Rd, Henrico, VA 23233
      View Details
    • Contact for pricing
      3,576 SF

      Class A Office/Service Space

      Class A office/service space with car and truck entrances.
      3801-3827 Gaskins Rd, Richmond, VA 23233
      View Details
    View Listing
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    9930 Independence Park Dr
    Richmond, VA 23233
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!