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Colony at Centerpointe 14400 Palladium Dr 255 Unit Apartment Building For Sale Midlothian, VA 23114
Investment Highlights
- Class A Luxury Community
- Great Access with Proximity to Top Employers
- Ability to Close the Gap to Top-of-Market Competitors
- Explosive Class A Submarket
- Well-Positioned For A Light Value-Add Strategy
Executive Summary
Newmark is pleased to present Colony at Centerpointe, a Class A multifamily community in Midlothian, Virginia, offering stable in-place performance with incremental revenue upside. The property is comprised of institutional-quality apartment homes with well-designed floor plans and amenities, positioned within one of Richmond’s most established suburban residential corridors.
Property Facts
| Sale Type | Investment | Lot Size | 17.83 AC |
| No. Units | 255 | Building Size | 293,076 SF |
| Property Type | Multifamily | Average Occupancy | 97% |
| Property Subtype | Apartment | No. Stories | 3 |
| Apartment Style | Garden | Year Built | 2016 |
| Building Class | A | ||
| Zoning | RMF | ||
| Sale Type | Investment |
| No. Units | 255 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | A |
| Lot Size | 17.83 AC |
| Building Size | 293,076 SF |
| Average Occupancy | 97% |
| No. Stories | 3 |
| Year Built | 2016 |
| Zoning | RMF |
Amenities
Unit Amenities
- Air Conditioning
- Microwave
- Washer/Dryer
- Heating
- Crown Molding
- Granite Countertops
- Stainless Steel Appliances
- Tub/Shower
- Carpet
- Wi-Fi
- Patio
- Wheelchair Accessible (Rooms)
Site Amenities
- Business Center
- Clubhouse
- Fitness Center
- Pool
- Breakfast/Coffee Concierge
- Grill
- Pet Play Area
- Recycling
- Wi-Fi
- Bicycle Storage
- Lounge
- Online Services
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 72 | - | 860 |
| 2+2 | 147 | - | 1,208 - 1,220 |
| 3+2 | 36 | - | 1,482 |
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Somewhat walkable
30/100
Exceptionally drivable
100/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Number | 725-69-79-57-600-000 | Improvements Assessment | $56,995,700 |
| Land Assessment | $5,865,000 | Total Assessment | $62,860,700 |
Property Taxes
Parcel Number
725-69-79-57-600-000
Land Assessment
$5,865,000
Improvements Assessment
$56,995,700
Total Assessment
$62,860,700
Contacts
-
Amanda Archer -
Charles Wentworth -
Garrison Gore -
Victoria Pickett -
John Chobanian -
Daniel Wake -
Newmark
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Colony at Centerpointe | 14400 Palladium Dr
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