12868 Patterson AveRichmond, VA 23238

Property Details for 12868 Patterson Ave

Year built

2023

Lot size

0.17 AC

Zone code

RO -RES/OF

Property type

Industrial properties

Property subtype

Industrial live-work 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.

• 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

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

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