Office for Sale in Richmond, VA

  • Price: $3.8M
  • Listing type: For sale
  • Asset type: Office
  • Location: Richmond, VA 23228
  • Size: 34,765 SF

Description

Strategically located just 1.5 miles from I-95, this 3 Story 34,765 SF office/warehouse building sits on 3.92 acres with high visibility along East Parham Road. Zoned O-3C, the property offers flexible space ideal for medical, professional, or institutional use. Formerly occupied by J. Sargeant Reynolds Community College, it includes 24,552 SF of office space with 8,184 SF on each floor and a separate self standing 10,213 SF warehouse, 87 surface parking spaces (2.5/1,000 SF ratio), and direct signage exposure to over 50,000 vehicles per day. Delivered vacant—perfect for owner-user, value-add investor, or redevelopment play. Located in Henrico County’s thriving West End corridor with strong demographics and immediate access to key highways, public services, and retail amenities. Building SF: 34765 | Land Size: 3.92 Ac | Listing Type: FOR SALE

Market Context

This office in Richmond, VA is listed for sale at $3,750,000 across 34,765 SF ($108/SF). It has been on the market for 38 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

$64.79/SF – $87.65/SF

Mid: $76.22/SF

Total estimate for 34,765 SF: $2,649,788

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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