Individually Owned 
For Sale
1 / 32
$720,000
706 Decatur St, Richmond, VA 23224
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Property summary
AI-generated overview
The property consists of an assemblage of parcels located at 706, 710, 712, and 714 Decatur Street in historic Old Manchester, Richmond, Virginia, south of the downtown financial district. Old Manchester is designated as an Opportunity Zone and is situated south of Richmond’s downtown core. The Decatur Street frontage provides visibility along Commerce Road with an indicated traffic count of approximately 20,000 vehicles per day. The site is historically associated with the Lewis Supply Company (since 1958) and includes a main building of 9,102 square feet, an additional 1,550 square foot storage building, and an approximately one-half acre fenced storage yard. The total described property size is 10,652 square feet.
Property profile
Verified
Property type
Other warehouses
Use group
WAREHOUSE, STORAGE
Year built
1959
Construction
STONE
Total area
9,102 SF
Lot
0.4 ac (17,352 SF)
Zoning code
B-7 CENTRAL BUSINESS
APN
S-000-0111-005
UPID
US87-0604999
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$816k
Blend (final)
Blend
$720k
Owner & transaction history
since 2023
2 recorded transactions
Zoning & alternative use
B-7 CENTRAL BUSINESS · Richmond, VA
Top alternative use upside
Commercial (general)
$980,000
+61.9%
Industrial (general)
$940,000
+55.3%
Auto repair, garage
$900,000
+49.0%
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.
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Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
All 7 comparables with addresses
4 alternative uses screened
Sensitivity value band
Source audit · 6 inputs
PDF export
Analytics Standard · 5 reports
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Summary
1
Valuation conclusion
Included free
Estimated market value
$720k
Value range
$648k – $792k
±10% around blend
Estimated value / SF
$79 / SF
Confidence
High
7 county-verified comps
Property data
100
Market benchmarks
100
Comparable evidence
70
$648k
blend $720k
$792k
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
9,102 SF
Lot area
0.4 ac
Year built
1959
Stories
1
APN
S-000-0111-005
Zoning
B-7 CENTRAL BUSINESS
Assessed value
$811,000
Annual tax
$20
3
Income approach: direct capitalization
Partial preview
Not enough income data on file for a CAP-approach estimation.
4
Sales comparison
Partial preview
Sales approach indication
$2.06M
Weighted, 7 comps · high confidence
Evidence
7 found · 6 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
2.9 mi away · 8,316 SF
3.1 mi away · 10,200 SF
3.6 mi away · 10,080 SF
3.7 mi away · 10,800 SF
3.8 mi away · 9,608 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$720k
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
ZIP 23 sales
$66
+19%
Submarket 152 sales
$99
-20%
County 100 sales
$107
-26%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $79/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Commercial (general)
Gross theoretical uplift
+62%
vs current-use indication
Industrial (general)
Auto Repair, Garage
Warehouse, Storage · 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
Not available
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: replacement-cost inputs are not on file.
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
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Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 7 sales
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$811k
Move the market yield to see immediate price impact.
Value / SF
$89
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%
$51k
$1.02M
$730k
$568k
$57k
$1.14M
$811k
$631k
$62k
$1.25M
$892k
$694k
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
7 found
High confidence · county-verified
Closest comparable
$2.05M
2.2 mi · Nov 2025 · $179/SF
Property tax & assessments
Tax year 2020Property tax & assessments
Tax year 2020
Tax billed
$20
Tax year 2020
Assessed value
$811,000
Assessed 2024
Previous assessed
$582,000
+39.3% YoY
Effective rate
0.00%
On assessed value
Assessed land
$649,000
Assessed improvement
$162,000
Land market value
$649,000
Improvement market value
$162,000
Total market value
$811,000
Applied tax rate
6.0000
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
Other warehouses
Use group
WAREHOUSE, STORAGE
Status
For Sale
Year built
1959
Construction
STONE
Heating
YES
Cooling
YES
Stories
1
Bathrooms
2
Total area
9,102 SF
Lot
0.4 ac (17,352 SF)
Zoning code
B-7 CENTRAL BUSINESS
APN
S-000-0111-005
UPID
US87-0604999
Jurisdiction
RICHMOND CITY
Zoning & alternative use
B-7 CENTRAL BUSINESS · Richmond, VAZoning B-7 CENTRAL BUSINESS · permitted uses
B-7 CENTRAL BUSINESS · Richmond, 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
1959
Construction
STONE
Heating
YES
Cooling
Yes
Stories
1
Bathrooms
2
Lot
0.4 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
B-7 CENTRAL BUSINESS
Jurisdiction
Richmond, VA
Recorded code
B-7 CENTRAL BUSINESS
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for B-7 CENTRAL BUSINESS in Richmond, VA.
What opens after registration
Zoning profile
2 official documentsVerified municipal sources with file download
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
Registration is required before the official district profile is shown.
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Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
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.
Registration is required before any owner information is shown.
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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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