3605 Hopkins RdRichmond, VA 23234

Property Details for 3605 Hopkins Rd

Year built

1959

Construction

TYPE NOT SPECIFIED

Lot size

1.66 AC

Property size (Sq ft)

3,100 SF

Zone code

M-1 LIGHT INDUSTRIAL

Property type

Auto shops

APN

S-007-1016-012

APU

S0071016012

Description

This fee-simple industrial distribution center, located at 3605 N Hopkins Rd, Richmond, VA 23234, offers 21,330 square feet on a 4.95-acre lot. Currently 100% occupied by Central Transport under a triple-net (NN) lease commencing December 31, 2023, and expiring April 30, 2027, with 3% annual rent bumps. The property features 42 loading docks, providing exceptional capacity. The building is divided into a 16,030 square foot terminal area designed for high-volume cargo handling, a 3,200 square foot shop area for maintenance and repair, and 2,100 square feet of office space. This prime Richmond location offers strategic access and ample space for efficient distribution operations, making it an ideal income-generating asset. The property's strong tenant and lease terms present a compelling investment opportunity in a high-demand market. This is a single-tenant property with a proven track record.

• CAP approach

  CAP return

  Valuation

  6%

  $845,478

  6.5%

  $780,441

  7%

  $724,695

• Comparable approach

  Method

  Valuation

  Relative Method

  $876,748

  Geo Method

  $1,304,682

• Alternative Use

  Use

  Valuation

  Residential

  $658,331

  Hospitality

  $603,028

  Educational

  $501,712

  Medical

  $518,967

  Retail

  $780,441

Location Insight

City

Richmond

County

Richmond City

State

Virginia

Latitude

37.5027

Longitude

-77.4578

CBSA code

40060

CBSA name

RICHMOND, VA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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