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    Property profile & analytics

    7229 Forest Ave Richmond, VA 23226

    • Office buildings
    • 38,672 SF
    • 5.58 lot acres
    For Lease
    View listing
    Value Estimation
    $6,920,000
    Last Sale
    Jan 12, 2022
    $7,710,588
    Location Intelligence
    Property ID
    US87-1035516
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Pediatric & Adolescent Ability / Pediatrician
    • Freeman Morgan Architects / Architect
    • Highland II / Business Center
    • jan elliott evans / Nutritionist
    • Laboratory Corporation-Amer Main Lb / Medical Laboratory

    Property Details for 7229 Forest Ave

    Year built
    1995
    Lot size
    5.58 lot acres
    Property size
    38,672 SF
    Zone code
    R-6
    Property type
    Office buildings
    APN
    763-745-9923
    APU
    7637459923

    Description

    Highland II, located at 7229 Forest Ave in Richmond, Virginia's Glen Forest/Glenside submarket, offers exceptional office space for lease. This two-story, Class A building boasts a total of 67,899 square feet, with a flexible layout accommodating various needs. Tenants can choose from available spaces ranging from a minimum of 1,308 square feet to a maximum contiguous space of 5,169 square feet. Currently, 32,658 square feet are vacant, presenting a significant opportunity for businesses seeking immediate occupancy. The building's versatile design caters to both medical and creative office users, making it an ideal location for a diverse range of businesses. Ample parking is provided, with a generous ratio of 4.25 spaces per 1,000 square feet. Situated in Henrico County, zip code 23226, Highland II benefits from its convenient location within the Glen Forest/Glenside submarket of Richmond. The property is categorized as multi-tenant, offering a dynamic and collaborative environment. This is a prime opportunity to secure high-quality office space in a thriving Richmond community. Contact us today to learn more about leasing options and explore the possibilities of establishing your business at Highland II.

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $6,750,000

    • CAP approach

      CAP return
      Estimation
      6%
      $7,285,000
      6.5%
      $7,205,000
      7%
      $8,480,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $7,785,000
      Geo Method
      $6,700,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $8,575,000
      Retail
      $7,505,000
      Mixed-Use
      $6,735,000
      Hospitality
      $8,335,000
      Educational
      $7,320,000
      Residential Income
      $8,950,000
      Energy
      $6,720,000
      Income-Based Land
      $8,350,000
      Food Service
      $6,605,000

    Location Insight

    • Map
    • Local Demand
    City
    Richmond
    County
    Henrico
    State
    Virginia
    Longitude
    -77.5296
    Latitude
    37.6048
    CBSA code
    40060
    CBSA name
    RICHMOND, VA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $50,832
    $1,033,200
    $5,091,100
    $6,124,300
    -
    $1,033,200
    $5,091,100
    $6,124,300

    Comparable in this City

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      7110 Frst Ave

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      122 Granite Ave

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    • Value Estimation
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      4,788 SF

      2000 Clb Ln

      OFFICE BUILDING • 4,788 SF
      2000 Clb Ln, Richmond, VA 23226-2420
      View Details
    • Value Estimation
      $1,760,000
      2,408 SF

      508 Libbie Ave

      PROFESSIONAL BUILDING • 2,408 SF
      508 Libbie Ave, Richmond, VA 23226-2618
      View Details

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    Similar Nearby for Lease

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      Class A Office Space Available

      Class A office building with suites available for lease.
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      Glen Forest Drive Office Space

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      Class A Office Space Available

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      Highland II: Premier Richmond Office Space

      Class A Medical & Creative Office Suites Available
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      View Details
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      Glen Forest Drive Office Space

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    7229 Forest Ave
    Richmond, VA 23226
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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