Office for Sale in Richmond, VA

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Office
  • Location: Richmond, VA 23226

Description

A 1,416 SF space is now available for sublease at Westhampton Medical Center, located on Patterson Avenue in Richmond, Virginia. Suitable use for office, medical, legal, insurance, professional services, or spas. This high-quality space offers a lease term through November 30, 2032. The property is in an affluent, densely populated area—serving 50,444 residents within 3 miles, with an average household income of $130,469. Convenient access to major roads including Monument Ave and Libbie Ave. Located in a highly walkable area with a wide variety of nearby amenities.

Market Context

This office in Richmond, VA is listed for sale. It has been on the market for 67 days. Compare it against other office listings for sale in Richmond, VA — <a href="/search/sale/office/virginia/richmond">view the full market</a>.

As of Q1 2025, the Richmond office market showed a 31.4% vacancy rate, average asking rents near $33.43/SF/yr, rents up 1.4% year over year, and cap rates around 9.5%. Source: Consensus Q1 2025 market report.

Rising rents point to a competitive market where well-priced, well-located assets trade quickly.

Office market FAQ

What is the typical cap rate for office in Richmond?
About 9.5% as of Q1 2025, per Consensus.
Is the Richmond office market tightening or softening?
Vacancy is around 31.4%, with asking rents rising year over year (Q1 2025).

Unified Estimate

Very Low Confidence

$54.56/SF – $73.81/SF

Mid: $64.18/SF

Rate-first confidence-weighted blend with cost-of-business adjustment.

No local comparable sales were available, so this estimate is transferred from a comparable peer market — treat it as a rough indication only. Transferred from peer market greenville (similarity: 100%) with 7 comparable listings.

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