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Property profile & analytics
OFF-MARKET
Estimated value
$4,250,000
Office Spaces
101 Commerce Rd Richmond, VA 23224-2360
Entity Owned
17-yr Hold
~
Est. High Equity
Property ID
US87-0807309
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
1920
Construction
TYPE NOT SPECIFIED
Total area
40,959 SF
Lot
0.46 ac (20,212 SF)
Zoning code
B-6 CENTRAL BUSINESS
APN
S-000-0039-011
UPID
US87-0807309
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
-
FoodMinds Consultant
-
Genesis Properties Inc Real Estate Agency
-
Padilla Richmond Marketing & Advertising Advertising Agency
-
Joe Smith Brand Strategy and Creative Advertising Agency Marketing & Advertising
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$5.29M
Blend (final)
Blend
$4.25M
Owner & transaction history
101 West Commerce LLC · 17 yrs held
101 West Commerce LLC
since 2009
5 recorded transactions
Zoning & alternative use
B-6 CENTRAL BUSINESS · Richmond, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$6.8M
+55.1%
Neighborhood: shopping center
$6.7M
+52.9%
Office building
$6.1M
+37.7%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$4,400,000
Current use
MEDICAL BUILDING
$6,825,000
Change: +55% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$6,730,000
Change: +53% · Conversion: Difficult
OFFICE BUILDING
$6,055,000
Change: +38% · Conversion: Easy
INDUSTRIAL (GENERAL)
$4,220,000
Change: -4% · Conversion: Moderate
AUTO REPAIR, GARAGE
$4,050,000
Change: -8% · Conversion: Difficult
Blend value · Realmo final
$4.25M
Range $3.83M – $4.68M · ±10%
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
$104 / 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
$5,193,000
Assessed 2024
Previous assessed
$4,671,000
+11.2% YoY
Effective rate
0.00%
On assessed value
Assessed land
$1,209,000
Assessed improvement
$3,984,000
Land market value
$1,209,000
Improvement market value
$3,984,000
Total market value
$5,193,000
Applied tax rate
6.0000
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
Office Spaces
Use group
OFFICE (GENERAL)
Status
Off-Market
Year built
1920
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
YES
Stories
3
Rooms
8
Bathrooms
16
Total area
40,959 SF
Lot
0.46 ac (20,212 SF)
Zoning code
B-6 CENTRAL BUSINESS
APN
S-000-0039-011
UPID
US87-0807309
Jurisdiction
RICHMOND CITY
Zoning & alternative use
B-6 CENTRAL BUSINESS · Richmond, VA
Zoning B-6 CENTRAL BUSINESS · permitted uses
B-6 CENTRAL BUSINESS · 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
COMMERCIAL (GENERAL) Current
Est. value
$4.4M
MEDICAL BUILDING
Est. value
$6.8M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$6.7M
OFFICE BUILDING
Est. value
$6.1M
INDUSTRIAL (GENERAL)
Est. value
$4.2M
AUTO REPAIR, GARAGE
Est. value
$4.1M
COMMERCIAL (GENERAL) Current
MEDICAL BUILDING
NEIGHBORHOOD: SHOPPING CENTER
OFFICE BUILDING
INDUSTRIAL (GENERAL)
AUTO REPAIR, GARAGE
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
1920
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
Yes
Stories
3
Rooms
8
Bathrooms
16
Lot
0.46 ac
Current owner
From public records · entity-resolved
101 West Commerce LLC
Entity
Mailing address
101 W COMMERCE RD, RICHMOND, VA 23224-2360
Ownership since
2009
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 21, 2016
—
101 West Commerce LLC
—
Deed
related
$4,288,000 · Union Bk&tr
Jun 1, 2009
$4,744,999
101 West Commerce LLC
Carter Ryley Thomas INC
Warranty Deed
$3,825,000 · Sonabbank
Jun 1, 2009
$105,001
New Manchester Sq LLC
Carter Ryley Thomas INC
Warranty Deed
$1,200,000 · Village Bank
—
—
101 West Commerce LLC
—
Deed Of Trust
related
$480,000 · Carter Ryley Thomas INC
—
—
101 West Commerce LLC
—
Loan Modification
related
$4,288,000 · Union Bk&tr
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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