Entity Owned 
For Sale
1 / 4
$1,750,000
4150 Tom Leonard Dr, Glen Allen, VA 23060
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Property summary
AI-generated overview
This exceptional 1.52-acre commercial land parcel presents a remarkable investment opportunity in the thriving Short Pump area of Glen Allen, Virginia. Located at 4150 Tom Leonard Drive, zip code 23060, this M-1 zoned property boasts unparalleled visibility and accessibility. Its strategic location directly adjacent to Tom Leonard's Farmer's Market ensures high foot traffic and brand recognition. The property is also situated across from West Broad Village, a bustling retail center, and enjoys convenient access to Interstate 64 via nearby highway exits. This prime location is surrounded by a concentration of major grocery stores including Whole Foods, Trader Joe's, Fresh Market, Publix, Kroger, Lidl, and Aldi, creating a dense and desirable retail environment. The asking price is $1,750,000, translating to approximately $1,151,316 per acre. This represents a significant opportunity for developers seeking to capitalize on the area's robust commercial growth and strong consumer base. The property's size and zoning make it ideal for a variety of commercial retail developments. Don't miss this chance to secure a premier location in one of Richmond's most sought-after commercial districts.
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2004
Total area
13,376 SF
Lot
6.29 ac (273,992 SF)
Zoning code
M-1
APN
743-762-6518
UPID
US87-0645352
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Grocery & Convenience Store Food Market
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.47M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.77M
Owner & transaction history
since 2014
1 recorded transaction
Zoning & alternative use
M-1 · Glen Allen, VA
Top alternative use upside
Auto repair, garage
$2.9M
+39.9%
Medical building
$2.5M
+18.4%
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
17% off on annual
Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
3 alternative uses screened
Sensitivity value band
Source audit · 6 inputs
PDF export
Analytics Standard · 5 reports
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from $99/month
Summary
1
Valuation conclusion
Included free
Estimated market value
$1.77M
Value range
$1.59M – $1.94M
±10% around blend
Estimated value / SF
$132 / SF
Confidence
Property data
100
Market benchmarks
33
Comparable evidence
60
$1.59M
blend $1.77M
$1.94M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
13,376 SF
Lot area
6.29 ac
Year built
2004
Stories
1
APN
743-762-6518
Zoning
M-1
Assessed value
$4,294,200
Annual tax
$36,501
3
Income approach: direct capitalization
Partial preview
Income approach indication
$2.47M
Direct capitalization · @ 6.5% CAP return
@ 6% CAP return
$2.67M
@ 6.5% CAP return
$2.47M
@ 7% CAP return
$2.29M
4
Sales comparison
Partial preview
Too few qualifying comparables for a sales-approach estimation.
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$1.77M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
County 68 sales
$156
-16%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $132/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Auto Repair, Garage
Gross theoretical uplift
+40%
vs current-use indication
Medical Building
Retail Stores · current use
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
8
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Modeled
Market rent
Not available
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: income and sales evidence cover the value conclusion.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
17% off on annual
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$4.29M
Move the market yield to see immediate price impact.
Value / SF
$321
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.00%7.00%9.00%
$271k
$5.41M
$3.86M
$3.01M
$301k
$6.01M
$4.29M
$3.34M
$331k
$6.61M
$4.72M
$3.67M
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$36,501
Tax year 2023
Assessed value
$4,294,200
Assessed 2024
Previous assessed
$4,294,200
+0.0% YoY
Effective rate
0.85%
On assessed value
Assessed land
$1,972,900
Assessed improvement
$2,321,300
Land market value
$1,972,900
Improvement market value
$2,321,300
Total market value
$4,294,200
Applied tax rate
2.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
For Sale
Year built
2004
Heating
NONE
Cooling
AC.PACKAGE
Stories
1
Total area
13,376 SF
Lot
6.29 ac (273,992 SF)
Zoning code
M-1
APN
743-762-6518
UPID
US87-0645352
Jurisdiction
HENRICO
Zoning & alternative use
M-1 · Glen Allen, VAZoning M-1 · permitted uses
M-1 · Glen Allen, VA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
2004
Heating
NONE
Cooling
Yes
Stories
1
Lot
6.29 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
M-1
Jurisdiction
Glen Allen, VA
Recorded code
M-1
Ownership Intelligence
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What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
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Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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