$1,600,000
8401 Patterson AVE Henrico, VA 23229
27
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$1,600,000
Est. payment /mo
13,923 SqFt
Active
8401 Patterson AVE Henrico, VA 23229
UPDATED:
10/17/2024 08:11 PM
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 13,923 sqft
Price per Sqft $114
MLS Listing ID 2427401
HOA Y/N No
Year Built 1983
Property Description
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 art 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.
Location
State VA
County Henrico
Area 22 - Henrico
Interior
Cooling Central Air
Exterior
Roof Type Built-Up
Topography Level
Building
Lot Description Level
Building Description Brick, Multi-Tenant,No Elevators
Story 2
Sewer Public Sewer
Water Public
Level or Stories Two
Structure Type Brick
Others
Tax ID 755-741-2819
Ownership ,Investment
Listed by One South Commercial LLC
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