Fully Leased Office Investment in Western Henrico County
8401 Patterson Avenue Richmond Virginia 23229
$1,600,000
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 part 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.
ABOUT THE WEST END
Richmond’s West End is a dynamic and highly sought-after neighborhood that offers a blend of suburban comfort and urban amenities. Known for its well-established communities, tree-lined streets, and top-rated schools, the West End attracts families, professionals, and retirees alike. The area boasts a diverse selection of residential options, ranging from historic homes to modern apartments and newly developed townhomes. Residents enjoy convenient access to a variety of shopping centers, restaurants, and entertainment venues, including popular destinations like Short Pump Town Center and the bustling commercial corridors along Broad Street and Patterson Avenue.
The West End is also home to a thriving business community, with a mix of corporate offices, medical facilities, and locally-owned businesses. Its strategic location near major highways, including I-64 and I-95, allows for easy commuting to downtown Richmond and other nearby areas. In addition, the neighborhood’s proximity to recreational spaces like Deep Run Park and the University of Richmond enhances its appeal, providing opportunities for outdoor activities and cultural experiences.
Ann Schweitzer Riley has become a distinguished figure in commercial real estate, focusing primarily on sales of urban commercial properties, including office spaces, retail locations, multi-family buildings, industrial facilities, and mixed-use developments. With a rich background that spans over a decade, Ann has developed a keen expertise in property sales, investment, and development.
A graduate of UVA, Ann’s journey in real estate began as a residential real estate appraiser in Charlottesville, VA. Her career path led her to roles as a legal assistant and later to Richmond in 2008, where she worked with an affordable housing nonprofit. There, she gained a passion for construction and real estate development. This foundation allowed her to excel as a real estate construction project manager and later as a corporate commercial sales agent.
Today, at One South Commercial, Ann is renowned for her sharp insights in market trends, her strategic approach to property disposition, and her ability to optimize asset value for her clients. Her comprehensive understanding of both residential and commercial real estate markets, combined with her specific expertise in commercial sales, makes her an invaluable partner to property owners and buyers alike.
Ann’s commitment to her clients and her profound market knowledge ensure tailored, effective strategies for those looking to invest in or divest commercial real estate assets.
Tom Rosman has been brokering investment real estate since the early 1990’s in the Richmond, VA, metro area. He has brought hundreds of transactions to a successful conclusion, including large apartment complexes, apartment buildings in historic neighborhoods, office buildings, retail properties, mixed use buildings, and numerous historic adaptive reuse properties.
Tom was one of the first brokers to recognize the transformative changes occurring in many of Richmond’s most architecturally significant but ignored neighborhoods. Having helped place many of the warehouses and other commercial structures in the hands of Richmond’s development community, Tom’s belief in what a property should be was never compromised by the condition it was in.
DISCLAIMER: This offering memorandum is intended as a reference for prospective purchasers in the evaluation of the property and its suitability for investment. Neither One South Commercial nor Seller make any representations or warranties with respect to the accuracy or completeness of the materials contained in the offering memorandum. Prospective purchasers should evaluate the property independently and rely solely on such independent evaluation in determining whether to purchase the property. The offering memorandum, pricing, and terms therein are subject to change or withdrawal at the discretion of Seller and One South Commercial, as Seller’s exclusive representative. *Information provided deemed reliable but not guaranteed
