For Sale
$5,100,000

3405 Commerce RdRichmond, VA 23234

High-cash-flow industrial property.

Overview

Added:
Dec 11, 2024
Days on market:
113
This exceptional single-tenant industrial investment opportunity in Richmond, VA, presents a compelling chance to acquire a high-cash-flow asset with minimal management demands. Located at 3405 Commerce Rd, this 42,628 square foot building sits on a 3.46-acre parcel and boasts a triple-net lease structure, ensuring the tenant, Git The Trucking Commercial Tires, covers all real estate taxes, insurance, utilities, and maintenance. The building, constructed in 1962 and recently updated with a new roof (20-year warranty), features 12-foot ceilings, three loading docks, one drive-in door, and two levelers. The property also includes approximately 177 parking spaces. The current lease, in place for over a year, includes annual market rate increases. The building's prime location, with high visibility from I-95, makes it an ideal distribution hub for the East Coast. The property's M-1 zoning and 3-phase/240V/3000-amp service further enhance its appeal. The building's previous use was printing and direct mail, showcasing its adaptability. The strong Richmond industrial market, characterized by healthy demand and significant rental rate growth, ensures a robust return on investment. This is a turnkey opportunity for a savvy investor seeking a low-maintenance, high-yield property. The asking price is $5,100,000, translating to $128.03 per square foot. The property is currently 100% occupied.

Highlights

  • $5,100,000 asking price for this industrial investment opportunity.
  • 42,628 square foot building on a 3.46-acre parcel with 177 parking spaces.
  • Excellent location in Richmond, VA, with high visibility from I-95.
  • 100% occupied by a strong local tenant under a triple-net lease with annual rent increases.
  • Recently replaced roof with a 20-year warranty.

Property Details for 3405 Commerce Rd

Property type
Warehouses, Industrial properties
Square Feet
42,628 SF
Year Built
1962
Buildings
1
Stories
1

Location Insight

City
Richmond
County
Richmond City
State
Virginia
Latitude
37.4759668
Longitude
-77.4308497
3405 Commerce Rd, Richmond, Virginia

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3405 Commerce Rd
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