4665 Richmond RdWarsaw, VA 22572

Property Details for 4665 Richmond Rd

Year built

1992

Construction

WOOD

Lot size

9.80 AC

Property size (Sq ft)

63,820 SF

Zone code

TOWN OF WARSAW

Property type

Strip malls

Property subtype

Neighborhood centers

APN

16(6)4

APU

1664

Description

Warsaw Village Shopping Center presents a unique opportunity for retail businesses seeking high-traffic exposure in the heart of Virginia's Northern Neck. This 60,100 square foot necessity-anchored shopping center boasts a prime location on Richmond Road, benefiting from the strong daily traffic generated by its anchor tenants: Food Lion, Walgreens, and a Virginia ABC store. As one of only three major grocery stores serving the entire Northern Neck, this center enjoys a significant regional draw, ensuring a consistent flow of customers. Currently, there are 2,800 square feet of vacant retail space available, divisible to a minimum of 2,800 square feet and a maximum contiguous space of 2,800 square feet. The property also features a desirable pad site with drive-thru potential, ideal for businesses seeking enhanced visibility and convenience. This location is particularly well-suited for businesses such as nail salons, insurance offices, and cell phone stores. The center's strategic location and strong anchor tenants create an exceptional environment for retail success. The high volume of daily traffic and the regional draw of the grocery stores provide a significant advantage for prospective tenants. The available pad site with drive-thru potential offers additional opportunities for expansion and customization. This is a rare opportunity to establish a presence in a thriving retail center within a highly sought-after market.

• CAP approach

  CAP return

  Valuation

  6%

  $19,005,800

  6.5%

  $17,543,800

  7%

  $16,290,600

• Comparable approach

  Method

  Valuation

  Relative Method

  $11,084,900

  Geo Method

  $11,084,900

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $34,361,800

  Mixed-Use / Specialty

  $17,420,700

  Hospitality / Lodging

  $12,702,300

  Office

  $17,254,200

  Institutional / Educational

  $18,088,900

  Residential Income

  $21,164,000

  Multifamily

  $25,718,400

  Automotive / Energy

  $15,504,800

  Parking / Income-Based Land

  $5,410,280

  Restaurant / Food Service

  $8,931,550

  Healthcare / Senior Housing

  $17,926,700

Location Insight

City

Warsaw

County

Richmond

State

Virginia

Latitude

37.963

Longitude

-76.7765

Property Tax & Assessments

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