Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    Scott Rd Henrico, VA 23227

    • Industrial land
    • 12.00 lot acres
    OFF-MARKET
    Last Sale
    Aug 31, 2023
    $17,000,000
    Value Estimations
    $16,235,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US87-2157612
    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

    • Industrial land

    Property Details for Scott Rd

    Lot size
    12.00 lot acres
    Zone code
    UMUC
    Property type
    Industrial land
    APN
    788-760-3976
    APU
    7887603976

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $14,705,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Henrico
    County
    Henrico
    State
    Virginia
    Longitude
    -77.4449
    Latitude
    37.6467
    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
    $15,300
    $1,800,000
    $0.00
    $1,800,000
    -
    $1,800,000
    $0.00
    $1,800,000

    Comparable in this City

    • Value Estimation by Request
      3.52 Acres

      Magellan Pkwy

      INDUSTRIAL - VACANT LAND • 3.52 Acres
      Magellan Pkwy, Henrico, VA 23227
      View Details
    • Value Estimation by Request
      0.17 Acres

      3500 Saunders Ave

      INDUSTRIAL - VACANT LAND • 0.17 Acres
      3500 Saunders Ave, Richmond, VA 23227
      View Details
    • Value Estimation by Request
      0.35 Acres

      2105 Laburnum Ave

      INDUSTRIAL - VACANT LAND • 3,922 SF
      2105 Laburnum Ave, Richmond, VA 23227-4315
      View Details
    • Value Estimation by Request
      3.00 Acres

      3550 Saunders Ave

      INDUSTRIAL - VACANT LAND • 3.00 Acres
      3550 Saunders Ave, Richmond, VA 23227
      View Details
    • Value Estimation by Request
      4.63 Acres

      731 Parham Rd

      INDUSTRIAL - VACANT LAND • 4.63 Acres
      731 Parham Rd, Richmond, VA 23227
      View Details
    • Value Estimation by Request
      4.56 Acres

      8560 Magellan Pkwy

      INDUSTRIAL - VACANT LAND • 4.56 Acres
      8560 Magellan Pkwy, Richmond, VA 23227-1149
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      0.13 Acres

      Land For Sale, Richmond, VA

      Commercial land available in Richmond, zoned C-1.
      5317 Edgewood Ave, Richmond, VA 23227
      View Details
    • $585,000
      1.55 Acres

      Richmond Commercial Land - B-3 Zoning

      1.55-acre lot, ideal for retail/flex development.
      5409 Brook Rd, Richmond, VA 23227
      View Details
    • $595,000

      Commercial Land on Chamberlayne Avenue

      4.06 acre commercial land with highway access.
      5506 Chamberlayne Rd, Richmond, VA 23227
      View Details
    • $585,000

      Henrico County Land For Sale

      1.68 AC of land for retail, flex, or office.
      5409-5419 Brook Rd, Richmond, VA 23227
      View Details
    • Contact for pricing

      Land Available in Richmond, VA

      Land for sale at 8560 Magellan Pkwy, Richmond, VA.
      8560 Magellan Pkwy, Richmond, VA 23227
      View Details
    • Contact for pricing
      15,238 SF

      Henrico County Flex Space Available

      Flex space with direct access to major routes.
      8801 Park Central Dr, Richmond, VA 23227
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Land Near I-95 and Residences

      Commercial land for rent near I-95 and residential area.
      7101 Brook Rd, Richmond, VA 23227
      View Details
    • $750,000

      Prime Storage Site in Richmond

      Excellent visibility and access, approved for unmanned storage facility.
      1500 Robin Hood Rd, Richmond, VA 23227
      View Details
    • Contact for pricing
      147,738 SF

      Brook Run Shopping Center: Richmond, VA

      Retail Strip Center, High Traffic Area
      5700 Brook Rd, Richmond, VA 23227
      View Details
    • $2,000 /Mo
      43,560 SF

      Richmond Commercial Space For Lease

      1000 SF commercial space available off I-95 in Richmond.
      5604 Chamberlayne Rd, Richmond, VA 23227
      View Details
    • Contact for pricing
      679 SF

      Retail Space Near Medical Center

      Retail space available near Bon Secours Memorial Regional Medical Center.
      5100-5118 Richmond Henrico Tpke, Richmond, VA 23227
      View Details
    • Contact for pricing
      60,000 SF

      Richmond Warehouse Near Green City

      60,000 SF warehouse near major transportation and development.
      8750 Park Central Dr, Richmond, VA 23227
      View Details
    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.
    Scott Rd
    Henrico, VA 23227
    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.