5500 Monument AveRichmond, VA 23226

Property Details for 5500 Monument Ave

Year built

1964

Lot size

1.33 AC

Property size (Sq ft)

12,092 SF

Zone code

O-1

Property type

Healthcare properties

Property subtype

Medical offices

APN

770-736-8698

APU

7707368698

Description

This exceptional 1,061 square foot medical office building is situated at 5500 Monument Avenue in Richmond, Virginia, within Henrico County (zip code 23226). The single-story, single-tenant property offers unparalleled convenience and visibility. Its location between Libbie Avenue and Willow Lawn Drive provides easy access from major thoroughfares, serving both Richmond city and Henrico County residents. The building features entirely ground-floor access directly from the parking lot, eliminating any stairs or elevators and ensuring ease of access for patients and staff. This freestanding structure boasts excellent visibility from the street, enhancing its appeal and potential for attracting clientele. The entire 1,061 square feet is currently vacant, presenting a unique opportunity for a medical professional or practice seeking a well-located, readily accessible space to establish or expand their operations. The property's single-tenant configuration offers simplicity and control, making it an ideal investment for those seeking a straightforward and manageable commercial property. This location offers a blend of accessibility and high visibility, making it a highly desirable location for a medical practice.

• CAP approach

  CAP return

  Valuation

  6%

  $2,668,455

  6.5%

  $2,463,189

  7%

  $2,287,247

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,019,485

  Geo Method

  $2,019,485

• Alternative Use

  Use

  Valuation

  Residential

  $3,054,354

  Hospitality

  $2,797,772

  Educational

  $2,327,714

  Medical

  $2,407,767

  Retail

  $3,620,888

Location Insight

City

Richmond

County

Henrico

State

Virginia

Latitude

37.582

Longitude

-77.5063

CBSA code

40060

CBSA name

RICHMOND, VA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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