Not Disclosed

Chesterfield, VA
$ 785,000 Beds 0 Baths 0 Sq 6,120
Monthly Estimate* How much can I afford?

Value-Add/Opportunistic investment strategy located off highly sought-after Route 10 (Iron Bridge Rd) in Chester, VA. The Gray Professional Building, with road frontage, boasts a strategic opportunity to increase current rent structures while also affording a development option on the back portion of the property. This additional development option can drastically change cash flow and put your investment into core investment territory following a three to five-year holding period. There is currently one tenant vacancy in Unit D, with an additional scheduled to exit August 1st, 2020 from Unit A. Unit A was combined with previous Unit B to form one large 2000 sq. ft. space, however, can easily be reversed to its original form to secure an additional unit for six total. Utilize one of the spaces as an owner-occupied investment strategy, or simply restructure leases and fill units to enjoy a 7%+ cap rate. Finalize renovations, increase rents, split Unit A, develop back portion of the lot and increase cap rate to an estimated 9.5%+! Turn this opportunity into a core investment, then re-sale to secure massive property appreciation in a very sought-after region of central RVA.

Commercial

  • Price
  • $ 785,000
  • Lot Size
  • Bedrooms
  • 0
  • Sqr Footage
  • 6,120
  • Full Bathrooms
  • 0
  • Year Built
  • 1984
  • Half Bathrooms
  • 0
  • City, Zip
  • Chesterfield
  • County
  • CHESTERFIELD
  • Style
  • Area
  • 54 - Chesterfield
  • MLS#
  • 2018848
  • Zip
  • 23831
Listing Provided by: David Gaulden with Keller Williams Midlothian.

Features

General

Construction Materials Brick
Heating Zoned
MLS Area 54 - Chesterfield
Possible Use Medical/Dental
Property Type Commercial Sale
PropertyCondition Good Condition
Roof Flat, Shingle
Sewer Septic Tank
Stories 1
Topography Level

Interior Features

Heating Y/N Yes

Exterior Features

Lot Features Level
Roadresponsibility Public Maintained Road
Water Source Public

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Master On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Affordability Calculator

$3,068

Per Month

Based on the average sale price from the Ashland, VA office

  • Monthly Principal & interest $1,939
  • Monthly Property Taxes $1,062
  • Monthly Home Insurance $67
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Default based on a 30-year fixed rate of 4.38% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA, or jumbo loans.

Schools

Elementary School Unknown Elementary School
Middle School Unknown Middle School
High School Unknown High School

Price History

6/24/2020 Listed $850,000
7/29/2020 8% - $785,000

Property vs Zip Code Average in 23831

Price
AVG $640K
$790K
Visits
AVG 37
52
Year Built
AVG 1990
1984

Map

Not Disclosed Chesterfield, VA is a Single Family Home for sale at $785000 with 6120 sqft and a lot size of Acre(s). Not Disclosed Chesterfield has 0 bedrooms, 0 baths and was built in 1984. The property's zip code is 23831 which is in Chesterfield, VA

*Information deemed reliable but not guaranteed.

Financial calculator disclaimer: Default based on a 30-year fixed rate of 4.38% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

All information deemed reliable, but not guaranteed, and should be independently verified. The real estate information and related content displayed on this site is provided for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.