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

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