5717 Midlothian TpkeRichmond, VA 23225

Property Details for 5717 Midlothian Tpke

Year built

1977

Construction

WOOD

Lot size

0.37 AC

Property size (Sq ft)

3,164 SF

Zone code

B-3 GENERAL BUSINESS

Property type

Office properties

Property subtype

Office buildings

APN

C-006-0789-006

APU

C0060789006

Description

This exceptional commercial property, located at 5717 Midlothian Turnpike in Richmond, Virginia, presents a compelling investment opportunity. The building boasts over 3,000 square feet of adaptable space, perfectly suited for a diverse range of professional businesses. Its prime location ensures high visibility and easy accessibility, making it an attractive proposition for companies seeking a prominent presence in a busy area of the city. Currently generating income as a leased daycare center, this property offers a stable revenue stream for investors while simultaneously presenting significant potential for future development or adaptation to suit a variety of commercial uses. The building's versatile layout allows for customization to meet the specific needs of various tenants, making it an ideal choice for businesses requiring ample space for offices, specialized services, or other commercial operations. The property sits on a 0-acre lot and is listed at $675,000. Its strategic location on Midlothian Turnpike guarantees significant foot and vehicle traffic, maximizing exposure and potential for client acquisition. This is a rare opportunity to acquire a well-situated, income-producing commercial property in a thriving Richmond neighborhood.

• CAP approach

  CAP return

  Valuation

  6%

  $602,945

  6.5%

  $556,564

  7%

  $516,810

• Comparable approach

  Method

  Valuation

  Relative Method

  $389,869

  Geo Method

  $528,420

• Alternative Use

  Use

  Valuation

  Residential

  $690,140

  Hospitality

  $632,164

  Educational

  $525,953

  Medical

  $544,042

  Retail

  $818,150

Location Insight

City

Richmond

County

Richmond City

State

Virginia

Latitude

37.5048

Longitude

-77.5032

CBSA code

40060

CBSA name

RICHMOND, VA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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