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Property profile & analytics
OFF-MARKET
Estimated value
$2,345,000
Drug stores
1005 Brookland Park Blvd, Richmond, VA 23220
Entity Owned
1-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US87-3748373
Property profile
Verified
Property type
Drug stores
Use group
DRUG STORE, PHARMACY
Year built
1998
Construction
TYPE NOT SPECIFIED
Total area
13,820 SF
Lot
1.08 ac (46,871 SF)
Zoning code
MULTIPLE ZONING
APN
N-000-0864-002
UPID
US87-3748373
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Dog park and playground Park
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.35M
CAP Approach
CAP
$2.32M
Comparable Approach
Comparable
$2.74M
Blend (final)
Blend
$2.35M
Owner & transaction history
Front Royal Acres LLC · 1 yrs held
Front Royal Acres LLC
since 2024
Last sale
$2.3M
1 recorded transaction
Zoning & alternative use
MULTIPLE ZONING · Richmond, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$3.9M
+11.9%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Richmond submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Richmond submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$2,345,000
ML approach
$2,345,000
CAP Approach
CAP Return
Estimation
6%
$2,515,000
6.5%
$2,320,000
7%
$2,155,000
Alternative Use
Use
Estimation
RETAIL STORES
$3,475,000
Current use
RESTAURANT
$3,890,000
Change: +12% · Conversion: Easy
Blend value · Realmo final
$2.35M
Range $2.11M – $2.58M · ±10% · vs last sale $2.34M (Aug 5 2024)
Last sale anchor
$2.34M
Aug 5 2024
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$170 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2020Property tax & assessments
Tax year 2020
Tax billed
$20
Tax year 2020
Assessed value
$2,238,000
Assessed 2024
Previous assessed
$2,228,000
+0.4% YoY
Effective rate
0.00%
On assessed value
Assessed land
$803,000
Assessed improvement
$1,435,000
Land market value
$803,000
Improvement market value
$1,435,000
Total market value
$2,238,000
Applied tax rate
3.0000
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
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Drug stores
Use group
DRUG STORE, PHARMACY
Status
Off-Market
Year built
1998
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
YES
Stories
1
Rooms
4
Bathrooms
1
Total area
13,820 SF
Lot
1.08 ac (46,871 SF)
Zoning code
MULTIPLE ZONING
APN
N-000-0864-002
UPID
US87-3748373
Jurisdiction
RICHMOND CITY
Zoning & alternative use
MULTIPLE ZONING · Richmond, VA
Zoning MULTIPLE ZONING · permitted uses
MULTIPLE ZONING · Richmond, VA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Richmond. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$3.5M
RESTAURANT
Est. value
$3.9M
RETAIL STORES Current
RESTAURANT
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1998
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
Yes
Stories
1
Rooms
4
Bathrooms
1
Lot
1.08 ac
Current owner
From public records · entity-resolved
Front Royal Acres LLC
Entity
Mailing address
1401 W BROAD ST STE #200, CLIFTON, NJ 07013-4236
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 5, 2024
$2,050,000
Front Royal Acres LLC
Richmond Chamberlayne LLC
Special Warranty Deed
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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