12868 Patterson AveRichmond, VA 23238

  • Mixed-use properties
  • 0.17 AC
For Sale

Property Details for 12868 Patterson Ave

Year built
2023
Lot size
0.17 AC
Zone code
RO -RES/OF
Property type
Mixed-use properties
Property subtype
Other industrial properties
APN
63 43 CV4
APU
6343CV4

Description

Creekmore Office Park offers 15,000 square feet of flexible office space in Richmond, VA, ideally situated near the 288 interchange and West Creek on Patterson Avenue. This three-building, single-story office park features 6,000 square feet per building, currently in shell condition, allowing for complete customization to meet specific business needs. The property boasts a total of 18,000 square feet of vacant space, with a minimum divisible unit of 3,000 square feet, suitable for various tenancy arrangements. Built in 2023, the park is zoned R-O and sits on a 0.5-acre lot (APN: 63-43-0-CV4-0, 63-43-0-CV3-0, 63-43-0-CV2-0). The energy-efficient design, utilizing insulated concrete construction, ensures low operating costs and a comfortable environment. The park is already home to established businesses, providing a thriving and reputable office community. The owner offers design coordination and turnkey buildout services, ensuring a seamless transition for new tenants. This prime location offers convenient access to all parts of the city, making it an attractive option for businesses seeking a modern, efficient, and well-located office space. The single-story design with ample parking is particularly beneficial for businesses with patient or client traffic.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $1,914,291
    6.5%
    $1,767,038
    7%
    $1,640,820
  • Comparable approach

    Method
    Valuation
    Relative Method
    $1,894,378
    Geo Method
    $1,894,378
  • Alternative Use

    Use
    Valuation
    Residential
    $1,767,038
    Hospitality
    $1,618,597
    Educational
    $1,346,654
    Medical
    $1,392,967
    Retail
    $2,094,794
12868 Patterson Ave, Richmond, Virginia

Location Insight

City
Richmond
County
Goochland
State
Virginia
Latitude
37.6011
Longitude
-77.677
CBSA code
40060
CBSA name
RICHMOND, VA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2021
-
$400,000
-
$400,000
-
$400,000
-
$400,000

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