8401 Patterson Ave - Office FOR SALE


Richmond, VA 23229
$1,300,000 USD
804-539-3017
8401 Patterson Ave, Richmond, VA for Sale
$1,300,000 USD
Office - FOR SALE
1/32
null | Request Cap Rate

8401 Patterson Ave
Richmond, VA 23229


HIGHLIGHTS

  • Fully leased multi-tenant office building
  • Excellent rental history with long term tenants
  • Highly efficient floor plan with minimal core space
  • Value-add opportunity with minimal core space
  • Well-maintained Asset close to Regency development

OVERVIEW

Presenting 8401 Patterson Avenue, a fully leased, multi-tenant Class B office building offering over 13,000 rentable square feet in Richmond’s West End. This two-story colonial style office building features a highly efficient floor plan with minimal core space and a fully finished basement, maximizing rentable area for tenants while minimizing operational costs for ownership. With a strong tenant base, including several long-term tenants, the asset provides immediate stable cash flow upon acquisition, making it a valuable addition to any investment portfolio. In addition to its substantial on-site parking, the property offers flexibility for businesses with its professional layout over a range of suite sizes—reducing vacancy exposure with the building’s concentration of sub-2,000 SF occupancies. Investors can also capitalize on future upside by making some light cosmetic renovations to lobbies and entryways, which would allow for rent increases in this highly desirable submarket. These enhancements, combined with the property’s history of stable performance, make it a solid investment with growth potential. Situated in the growing Western Henrico County area, 8401 Patterson Avenue benefits from its prime location near the Regency Mall redevelopment and in one of Richmond’s most well-established, amenity-rich neighborhoods. Tenants and their clients enjoy access to a wide variety of retail, dining, and services in this thriving part of the Richmond MSA. This stabilized asset with strong rental history and future upside potential is an exceptional opportunity in a highly desirable commercial corridor.

FOR SALE DETAILS

PRICE

$1,300,000 USD

PRICE/SF

$93 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Glen Ridge Professional Building

PROPERTY TYPE

Office

TOTAL BUILDING SIZE

-

STORIES

2

BUILDING CLASS

B

YEAR BUILT

1983

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.16 AC

LAND SF

50,530 SF

ZONING

R-5C

APN/PARCEL ID

755-741-2819

ASK ABOUT THIS PROPERTY

Tom RosmanOne South CommercialMore Info
804-539-3017

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Tom RosmanOne South CommercialMore Info
804-539-3017

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.