Active
3405 Commerce Rd
Richmond VA, 23234
$5,300,000
$124.33 per sqft
Active
42,628 sqft
Commercial
Built in 1900
This single-tenant, long term lease investment opportunity is a chance for an investor to buy a strong cash flow building with market annual increases. The current lease with Git The Trucking Commercial Tires, a commercial tire installation and road service company, has been in place for over a year. Prior to the current tenant, the conditioned one-story building was previously used for printing and direct mail. The highly 1-95 visible building is approximately 41, 396 sf and has three (3) loading docks, one drive-in door, two (2) levelers and 3 phase/240 V/ 3000-amp service. The sizable property contains approximately 177 parking spaces within the 3.46-acre parcel. The industrial market in the Richmond area is extremely strong as demand remains very healthy. Rental rates have grown significantly in recent prior years and are still extremely stout. Richmond is extremely well located at the intersection of 1-95 and 1- 64, making it an excellent distribution location for the entire East Coast. 3405 Commerce has a Triple Net Lease structure with tenant responsible for all real estate taxes, building insurance, utilities and maintenance. The buyer of this property will be able to secure a robust return with very little management headaches.
2419081
MLSⓇ ID
July 21, 2024
Listed
October 1, 2024
Updated
Map
3405 Commerce Rd
Richmond VA, 23234
Interior Features
Total Stories
1
Fireplace
No
Cooling
Yes
Cooling Description
Central Air
Heating
No
Exterior/Building Features
Lot Size
3.46 Acres
Lot Features
Level
Roof
Flat
Sewer
Public Sewer
Other Property Details
Area Name
50 - Richmond
Days on Market
36
Garage
No
View
No
County
Richmond City
Water Source
Public
Pool
No
Listed by One South Commercial LLC, Ken Campbell, (804) 387-8812
All or a portion of the multiple listing information is provided by the Central Virginia Regional Multiple Listing Service, LLC, from a copyrighted compilation of listings. All CVR MLS information provided is deemed reliable but is not guaranteed accurate. The compilation of listings and each individual listings are ©2024 Central Virginia Regional Multiple Listing Service, LLC. All rights reserved. Property locations as displayed on any map are best approximations only and exact locations should be independently verified.
Date last updated: 10/1/2024