513 Forest AveRichmond, VA 23229

Property Details for 513 Forest Ave

Year built

1978

Lot size

0.73 AC

Property size (Sq ft)

11,020 SF

Zone code

O-1

Property type

Office properties

Property subtype

Office buildings

APN

757-737-1249

APU

7577371249

Description

This exceptional two-story, 1,789 square foot executive office building is ideally situated at 513 Forest Avenue in Richmond, Virginia's Near West End, offering unparalleled convenience and accessibility. Located directly on Forest Avenue and Ridge Road, this property enjoys a highly desirable location within a thriving neighborhood hub. The entire building, encompassing the first and second floors, is currently available for lease. Previously used as a dental office, the space boasts existing plumbing connections throughout, providing significant flexibility for a variety of professional uses. The 1,789 square feet of space presents a unique opportunity for a business seeking a prominent location with excellent visibility. The building's layout is well-suited for a single tenant or could be easily adapted to accommodate multiple smaller offices. The property is located in Henrico County, Virginia, with a zip code of 23229. This is a rare opportunity to secure a substantial and well-located office space in a highly sought-after area of Richmond. Contact for pricing and further details.

• CAP approach

  CAP return

  Valuation

  6%

  $2,324,745

  6.5%

  $2,145,919

  7%

  $1,992,639

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,840,450

  Geo Method

  $1,840,450

• Alternative Use

  Use

  Valuation

  Residential

  $2,660,939

  Hospitality

  $2,437,406

  Educational

  $2,027,893

  Medical

  $2,097,636

  Retail

  $3,154,500

Location Insight

City

Henrico

County

Henrico

State

Virginia

Latitude

37.5837

Longitude

-77.5537

CBSA code

40060

CBSA name

RICHMOND, VA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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