For Sale
$6,750,000

3605 Hopkins RdRichmond, VA 23234

High-yield warehouse, 21,330 SF, 7.11% cap rate

Overview

Added:
Dec 11, 2024
Days on market:
114
This fee-simple industrial property in Richmond, VA, offers a compelling investment opportunity. The 21,330 square foot building features 16,030 square feet of terminal space designed for high-volume cargo handling, 3,200 square feet of shop space for maintenance and repair, and 2,100 square feet of office space. The property boasts 42 loading docks, ensuring efficient operations. Currently 100% occupied by Central Transport under a triple-net (NNN) lease with a remaining term of approximately 2.4 years, expiring April 30, 2027, and featuring 3% annual rent bumps. The lease commenced December 31, 2023. The property sits on a 4.95-acre lot and generates a net operating income (NOI) of $479,808, resulting in a 7.11% capitalization rate. Its prime location in Richmond's thriving industrial area provides strategic access and ample space for various operational needs. The asking price is $6,750,000. This is an ideal investment for those seeking a strong, income-generating asset in a high-demand market.

Highlights

  • Fee-simple industrial property in Richmond, VA.
  • 21,330 SF building with 16,030 SF of terminal space, 3,200 SF of shop space, and 2,100 SF of office space.
  • 42 loading docks.
  • 100% occupied under a NNN lease with 3% annual rent increases, expiring April 30, 2027.
  • 4.95-acre lot with $479,808 NOI and a 7.11% cap rate.
  • Asking price: $6,750,000.

Property Details for 3605 Hopkins Rd

Property type
Warehouses, Industrial properties
Square Feet
21,330 SF
Lot Size (sq. ft)
215,622 SF

Location Insight

City
Richmond
County
Richmond City
State
Virginia
Latitude
37.50207
Longitude
-77.45715
3605 Hopkins Rd, Richmond, Virginia

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3605 Hopkins Rd
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