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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

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

broker

Will Mathews

broker

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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