2186026
6c421072-9742-4e26-b217-54149386b36d
Hickory Creek
2344 Hickory Creek Drive, Richmond, VA 23294
- For Sale Contact for pricing
- Property Type Other
- Building Class B
- Year Built 1985
- Date Updated Aug 19, 2022
EXCEPTIONAL VALUE-ADD OPPORTUNITY WITH 21% ORGANIC RENT GROWTH IN LAST 3 MONTHS
Colliers is pleased to present Hickory Creek, 294 units with multiple paths to add value located in a fast-growing submarket of Richmond, VA. Built in 1985, 161 units (55%) are in unrenovated condition featuring white appliances and laminate countertops. 133 units (45%) were recently renovated with varying upscale finishes such as modern white cabinets, black or stainless-steel appliances, subway tile backsplash, hardwood-style floors, and granite countertops to generate monthly premiums over $210/unit. In good physical condition and already achieving outstanding organic rent growth, 21% on new leases and 11% on renewals over the last 3 months, new ownership can concentrate investment capital into revenue-generating improvements. Minutes from West Broad Village/Short Pump Town Center, major employers, and key transportation arteries to downtown Richmond, Hickory Creek is a proven value-add opportunity with the ability to push top-line revenue growth on day one.
15.5% SUBMARKET RENT GROWTH RANKS #1 IN RICHMOND
Surrounded by major employers and in-demand amenities, the Northwest Richmond submarket is projected to achieve incredible 15.5% rent growth in 2022 which ranks first among all submarkets in Richmond. The submarket is slated to realize 12.4% average annual rent growth from 2022 to 2023 which also outpaces all other submarkets over the same time period. New ownership will time value-add improvements perfectly with a rising market.
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Location
- Walk Score ® Somewhat Walkable (56)
- Bike Score ® Somewhat Bikeable (41)
Powered by Walk Score ®
- City Richmond, VA
- Neighborhood Coppermill
- Zip Code 23294
- Market Richmond Tidewater
Points of Interest
Transportation
Fuel station
Parking
Hotels
Restaurants
Education
Child care
Richmond Staples Mill Road
3.29 miles
AR Cab Service
3.65 miles
Ashland
9.59 miles
Richmond Main Street
9.66 miles
BP
0.28 miles
Texaco
0.43 miles
Kroger
0.47 miles
Sam's Club
0.52 miles
7-Eleven
0.56 miles
Costco Gasoline
0.72 miles
East Coast
0.90 miles
BP
1.07 miles
Shell
1.11 miles
Wawa
1.34 miles
Aloft
2.77 miles
Back Parking Lot
3.96 miles
Pony Pasture
6.00 miles
West Creek Central Parking Deck
6.59 miles
Lot G
7.57 miles
Bowe Street Parking Deck
7.75 miles
Lot J
7.76 miles
Lot F
7.89 miles
VCU - HB Lot
7.90 miles
Midway
7.90 miles
SpringHill Suites Richmond Northwest
0.98 miles
Holiday Inn Express Richmond I-64 Short Pump Area
1.11 miles
Fairfield Inn & Suites by Marriott Richmond Innsbrook
1.16 miles
Extended Stay America - Richmond - Innsbrook
1.29 miles
Quality Inn West End
1.48 miles
Courtyard by Marriott Richmond Northwest/Short Pump
1.50 miles
Residence Inn Richmond Northwest/Short Pump
1.51 miles
Country Inn & Suites
1.53 miles
Suburban Extended Stay Hotel - Richmond
1.57 miles
Homewood Suites by Hilton Richmond-West End/Innsbrook
1.72 miles
Sushi King
0.15 miles
Sushi King
0.15 miles
Yo Mix Frozen Yogurt
0.15 miles
Capriccio Pizza
0.16 miles
India K'Raja
0.17 miles
Ratee Thai
0.19 miles
Teppanyaki Grill & Buffet
0.21 miles
Breakers Sports Grill
0.22 miles
Piciotti’s Pizza League
0.23 miles
Pho So 1 Vietnamese Noodle House
0.25 miles
Empire Beauty School
0.18 miles
J. R. Tucker High School
0.41 miles
Virginia Tech - Richmond Center
0.47 miles
Longan Elementary School
0.66 miles
Davis Elementary School
0.72 miles
University of Phoenix
0.83 miles
Mount Vernon Middle School
1.12 miles
Skipwith Elementary School
1.39 miles
Jack and Jill School
1.51 miles
Springfield Park Elementary School
1.75 miles
Tuckaway Complete Childcare
2.20 miles
Kingdom Kidz Child Development Center
2.90 miles
Children of America Glen Allen
3.01 miles
Childrens Castle Learning Center
3.39 miles
Child Enrichment Center
3.69 miles
Heavenly Child Care
3.98 miles
The Goddard School
4.01 miles
Minnieland Academy
4.19 miles
Communikids
4.27 miles
Bright Horizons
4.40 miles
Contacts
Will Mathews
Thomas Leachman
Frequently Asked Questions
What is the total square footage of Hickory Creek?
Hickory Creek totals 932 square feet.
When was this property built?
Hickory Creek was built in 1985.
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