Pending

8401 Patterson Ave

Henrico VA, 23229

$1,600,000


$114.92 per sqft

Pending

13,923 sqft

Commercial

Built in 1983

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.

2427401

MLS ID

October 17, 2024

Listed

November 25, 2024

Updated

Map

8401 Patterson Ave
Henrico VA, 23229

Interior Features

Total Stories

2


Fireplace

No


Cooling

Yes


Cooling Description

Central Air


Heating

No

Exterior/Building Features

Lot Features

Level


Roof

Built-Up


Sewer

Public Sewer

Other Property Details

Area Name

22 - Henrico


Days on Market

62


Garage

No


View

No


County

Henrico


Water Source

Public


Pool

No

Listing History

Date

Event

Price

11/25/2024

Pending

Listed by One South Commercial LLC, Thomas Rosman, (804) 539-3017 

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: 11/25/2024

Powered byLuxury Presence