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Gray Professional Building 11300 Iron Bridge Rd

6,120 SF 18% Leased Office Building Chester, VA 23831 $1,617,360 CAD ($264 CAD/SF)

Investment Highlights

  • Iron Bridge Rd frontage with signage (25,000 ADT)
  • Recently capital improvements
  • Easily reconfigurable with interior non-load bearing walls
  • Development potential facing Iron Bridge Rd
  • Proximity to I95 and 288, major developments, retail, residential and government facilities
  • Owner-user option with current income generation

Executive Summary

Now For Sale and For Lease! 11300 Iron Bridge Road, a strategically located commercial property in Chester, VA, boasting 6,120 sq. ft. of space on highly traveled Iron Bridge Rd (Route 10 - 25,000 ADT). This versatile property offers 820 to 3066 sq. ft. for immediate owner-user occupancy, with potential to expand to the full building use over time or sustaining income-generating units. The parcel includes additional land at the rear that can be developed, providing an opportunity to create new building frontage facing Iron Bridge Road. The building's interior is easily reconfigurable, as all walls are non-load bearing, allowing for flexible use and layout adjustments. Current tenants include Chesterfield County (Suite A) and Hi Tech Dental Lab (Suite E). This opportunity presents a desirable owner-user investment opportunity with current below-market rental rates poised for future re-negotiation. Suites B, C and D are currently available for lease at $20/rsf gross + utilities. Maximum available space for lease or owner-user occupancy represents 51% of the property (an additional ~120rsf common entrance could be added to GLA). Recent capital improvements include a new HVAC unit for Suite E, mansard roof shingles, and a freshly repaired, sealed, and re-striped parking lot, ensuring operational efficiency and curb appeal. Positioned amidst major upcoming developments like Courthouse Landing and Attain at Swift Creek Apartments, and in proximity to I-95 and I-288, the property offers unparalleled accessibility to retail and residential hubs. Ideal for office and medical users looking for a prime location in the Route 10 corridor while also enjoying income generation from stabilized tenants. This property promises both immediate utility and long-term growth potential in Chester, VA's burgeoning commercial landscape.

Property Facts

Sale Type
Investment or Owner User
Property Type
Office
Property Subtype
Medical
Building Size
6,120 SF
Building Class
B
Year Built
1984
Price
$1,617,360 CAD
Price Per SF
$264 CAD
Percent Leased
18%
Tenancy
Multiple
Building Height
1 Story
Typical Floor Size
6,120 SF
Building FAR
0.14
Land Acres
1.00 AC
Zoning
R-7 - Zoned R7 with O2 variance
Parking
34 Spaces (6.4 Spaces per 1,000 SF Leased)

Amenities

  • Signage

Space Availability

  • Space
  • Size
  • Space Use
  • Condition
  • Available
  • 1st Fl-Ste B
  • 1,190 SF
  • Office/Medical
  • Full Build-Out
  • Jan 2025

1,190 Sq. Ft. of medical office space with prime road frontage on Route 10 (Iron Bridge Rd.) in Chester, VA. The Gray Professional building offers a Modified Gross Lease where the Landlord covers all building expenses, major repairs, common area maintenance, and water. The Electricity, Janitorial/Trash are covered by the Tenant. The unit is currently occupied by a chiropractor looking to retire. Can be combined with Suites C and D for 3,066 GLA.

  • 1st Fl-Ste C
  • 1,056 SF
  • Office/Medical
  • Full Build-Out
  • Now

1,056 Sq. Ft. of medical office space with prime road frontage on Route 10 (Iron Bridge Rd.) in Chester, VA. The Gray Professional building offers a Modified Gross Lease where the Landlord covers all building expenses, major repairs, common area maintenance, and water. The Electricity, Janitorial/Trash are covered by the Tenant. The unit was previously plumbed as a dental office prior to being occupied as an at-home nursing office. Can be combined with Suites B and D for 3,066 GLA.

  • 1st Fl-Ste D
  • 820 SF
  • Office/Medical
  • Full Build-Out
  • Now

820 Sq. Ft. of medical office space with prime road frontage on Route 10 (Iron Bridge Rd.) in Chester, VA. The Gray Professional building offers a Modified Gross Lease where the Landlord covers all building expenses, major repairs, common area maintenance, and water. The Electricity, Janitorial/Trash are covered by the Tenant. The unit was previously occupied by a pediatric health clinic. Can be combined with Suites B and C for 3,066 GLA.

Space Size Space Use Condition Available
1st Fl-Ste B 1,190 SF Office/Medical Full Build-Out Jan 2025
1st Fl-Ste C 1,056 SF Office/Medical Full Build-Out Now
1st Fl-Ste D 820 SF Office/Medical Full Build-Out Now

1st Fl-Ste B

Size
1,190 SF
Space Use
Office/Medical
Condition
Full Build-Out
Available
Jan 2025

1st Fl-Ste C

Size
1,056 SF
Space Use
Office/Medical
Condition
Full Build-Out
Available
Now

1st Fl-Ste D

Size
820 SF
Space Use
Office/Medical
Condition
Full Build-Out
Available
Now

1st Fl-Ste B

Size 1,190 SF
Space Use Office/Medical
Condition Full Build-Out
Available Jan 2025

1,190 Sq. Ft. of medical office space with prime road frontage on Route 10 (Iron Bridge Rd.) in Chester, VA. The Gray Professional building offers a Modified Gross Lease where the Landlord covers all building expenses, major repairs, common area maintenance, and water. The Electricity, Janitorial/Trash are covered by the Tenant. The unit is currently occupied by a chiropractor looking to retire. Can be combined with Suites C and D for 3,066 GLA.

1st Fl-Ste C

Size 1,056 SF
Space Use Office/Medical
Condition Full Build-Out
Available Now

1,056 Sq. Ft. of medical office space with prime road frontage on Route 10 (Iron Bridge Rd.) in Chester, VA. The Gray Professional building offers a Modified Gross Lease where the Landlord covers all building expenses, major repairs, common area maintenance, and water. The Electricity, Janitorial/Trash are covered by the Tenant. The unit was previously plumbed as a dental office prior to being occupied as an at-home nursing office. Can be combined with Suites B and D for 3,066 GLA.

1st Fl-Ste D

Size 820 SF
Space Use Office/Medical
Condition Full Build-Out
Available Now

820 Sq. Ft. of medical office space with prime road frontage on Route 10 (Iron Bridge Rd.) in Chester, VA. The Gray Professional building offers a Modified Gross Lease where the Landlord covers all building expenses, major repairs, common area maintenance, and water. The Electricity, Janitorial/Trash are covered by the Tenant. The unit was previously occupied by a pediatric health clinic. Can be combined with Suites B and C for 3,066 GLA.

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
773-65-68-03-600-000
Land Assessment
$407,551 CAD
Improvements Assessment
$302,117 CAD
Total Assessment
$709,668 CAD
  • Listing ID: 32393321

  • Date on Market: 2024-07-09

  • Last Updated:

  • Address: 11300 Iron Bridge Rd, Chester, VA 23831

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