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8711 W Broad St
Richmond, VA 23294
Retail Property For Sale
Investment Highlights
- Recently renovated building with new roof, HVAC, lighting, and asphalt.
- Sale-leaseback structure with a five-year NNN lease and 3% annual escalations.
- Zoned B-3 and B-2, supporting a variety of retail and showroom uses.
- Highly visible location along West Broad Street with strong signage opportunities.
- Projected annual income of $420,000 with a 9.3% cap rate.
- Includes warehouse space and one dock for operational flexibility.
Executive Summary
This property presents an investment opportunity along the highly traveled West Broad Street corridor in Henrico County. The building, totaling approximately 18,732 square feet, has been recently renovated with a new roof, HVAC system, lighting, and asphalt improvements. Positioned on 1.41 acres, the site offers excellent visibility and signage along a major retail artery, ensuring strong exposure to consistent traffic volumes.
The asset is offered as a sale-leaseback, with the seller committing to a five-year NNN lease at $35,000 per month, featuring 3% annual escalations. This structure provides stable income with a projected NOI of $420,000 annually and a cap rate of 9.3%. Zoned B-3 and B-2, the property accommodates a range of retail and showroom uses, supported by a functional layout that includes approximately 3,540 square feet of warehouse space and one dock.
With a sale price of $4,500,000, this property combines long-term income security with a location in a thriving commercial corridor, making it an attractive option for investors seeking reliable returns and strong market fundamentals.
The asset is offered as a sale-leaseback, with the seller committing to a five-year NNN lease at $35,000 per month, featuring 3% annual escalations. This structure provides stable income with a projected NOI of $420,000 annually and a cap rate of 9.3%. Zoned B-3 and B-2, the property accommodates a range of retail and showroom uses, supported by a functional layout that includes approximately 3,540 square feet of warehouse space and one dock.
With a sale price of $4,500,000, this property combines long-term income security with a location in a thriving commercial corridor, making it an attractive option for investors seeking reliable returns and strong market fundamentals.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
18,732 SF
Building Class
B
Year Built
1973
Price
$6,139,080 CAD
Price Per SF
$327.73 CAD
Cap Rate
9.33%
NOI
$572,981 CAD
Tenancy
Single
Building Height
1 Story
Loading Docks
2 Exterior
Building FAR
0.30
Lot Size
1.41 AC
Zoning
B3/B2 - THIS PROPERTY IS ZONED BOTH B3 AND B2
Parking
38 Spaces (1.95 Spaces per 1,000 SF Leased)
Frontage
210’ on W Broad St
Amenities
- Bus Line
- Pylon Sign
- Signage
Property Taxes
| Parcel Number | 760-755-4129 | Improvements Assessment | $2,855,387 CAD |
| Land Assessment | $1,288,542 CAD | Total Assessment | $4,143,928 CAD |
Property Taxes
Parcel Number
760-755-4129
Land Assessment
$1,288,542 CAD
Improvements Assessment
$2,855,387 CAD
Total Assessment
$4,143,928 CAD
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