11300 Iron Bridge RdChester, VA 23831

Property Details for 11300 Iron Bridge Rd

Year built

1984

Lot size

1.00 AC

Property size (Sq ft)

6,120 SF

Zone code

R7 - SINGLE FAMILY RES

Property type

Office properties

Property subtype

Office buildings

APN

773-65-68-03-600-000

APU

773656803600000

Description

This 6,120 square foot medical office building in Chester, Virginia, presents a unique owner-user and investment opportunity. Situated on a 1.004-acre lot with prominent Iron Bridge Road (Route 10) frontage boasting 25,000 ADT, this single-story, 1988-built property offers significant visibility and accessibility. The building features five units, currently 83% occupied by four tenants, including Chesterfield County and Hi Tech Dental Lab. Recent renovations (2023 and 2024) included a new HVAC unit, roof repairs, and parking lot improvements. The interior is easily reconfigurable due to non-load-bearing walls, allowing for flexible space planning. A significant portion (3,066 square feet) is immediately available for lease or owner-occupancy. The property benefits from its strategic location near major interstates (I-95 and I-288), significant residential developments (Courthouse Landing and Attain at Swift Creek Apartments), and ample retail amenities. The asking price is $1,150,000 ($187.91/sq ft), with current tenants paying below-market rates, offering potential for future rental increases (3% annually). Additional undeveloped land at the rear of the property provides development potential for increased frontage on Iron Bridge Road. This property is zoned R7 with an O2 variance. The building is classified as Class C with a modified lease type. This is an exceptional opportunity for an owner-user seeking immediate occupancy and long-term investment potential in a thriving commercial area.

• CAP approach

  CAP return

  Valuation

  6%

  $1,135,468

  6.5%

  $1,048,124

  7%

  $973,258

• Comparable approach

  Method

  Valuation

  Relative Method

  $686,853

  Geo Method

  $1,022,101

• Alternative Use

  Use

  Valuation

  Residential

  $1,299,674

  Hospitality

  $1,190,494

  Educational

  $990,477

  Medical

  $1,024,541

  Retail

  $1,540,742

Location Insight

City

Chester

County

Chesterfield

State

Virginia

Latitude

37.3605

Longitude

-77.4991

CBSA code

40060

CBSA name

RICHMOND, VA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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