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Property profile & analytics
OFF-MARKET
Estimated value
$1,660,000
Medical Office Space
1010 Thompson St Richmond, VA 23230-4911
Entity Owned
Free & Clear
Property ID
US87-2309204
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL CLINIC
Year built
1955
Construction
STONE
Total area
14,050 SF
Lot
0.53 ac (23,000 SF)
Zoning code
R-02 RESIDENTIAL OFFICE
APN
W-000-1665-024
UPID
US87-2309204
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
-
Health Brigade Medical Clinic
-
Dr. Alan W. Dow, MD Physician
-
Michelle Schmitt Physician Medical Clinic
-
Roneshe Warren Association Or Organization
-
Manju Kadariya Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.66M
Owner & transaction history
FAN FREE CLINIC INC
FAN FREE CLINIC INC
Zoning & alternative use
R-02 RESIDENTIAL OFFICE · Richmond, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$2.6M
+9.3%
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
MEDICAL BUILDING
$2,340,000
Current use
AUTO REPAIR, GARAGE
$2,560,000
Change: +9% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$2,310,000
Change: -1% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$2,260,000
Change: -3% · Conversion: Moderate
WAREHOUSE, STORAGE
$2,090,000
Change: -11% · Conversion: Difficult
RETAIL STORES
$2,025,000
Change: -14% · Conversion: Difficult
OFFICE BUILDING
$1,910,000
Change: -18% · Conversion: Easy
Blend value · Realmo final
$1.66M
Range $1.49M – $1.83M · ±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
$118 / 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
Assessed value
$2,941,000
Assessed 2024
Previous assessed
$2,758,000
+6.6% YoY
Assessed land
$917,000
Assessed improvement
$2,024,000
Land market value
$917,000
Improvement market value
$2,024,000
Total market value
$2,941,000
Applied tax rate
1.0000
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
Medical Office Space
Use group
MEDICAL CLINIC
Status
Off-Market
Year built
1955
Construction
STONE
Heating
NONE
Stories
2
Total area
14,050 SF
Lot
0.53 ac (23,000 SF)
Zoning code
R-02 RESIDENTIAL OFFICE
APN
W-000-1665-024
UPID
US87-2309204
Jurisdiction
RICHMOND CITY
Zoning & alternative use
R-02 RESIDENTIAL OFFICE · Richmond, VA
Zoning R-02 RESIDENTIAL OFFICE · permitted uses
R-02 RESIDENTIAL OFFICE · 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
MEDICAL BUILDING Current
Est. value
$2.3M
AUTO REPAIR, GARAGE
Est. value
$2.6M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.3M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.3M
WAREHOUSE, STORAGE
Est. value
$2.1M
RETAIL STORES
Est. value
$2.0M
OFFICE BUILDING
Est. value
$1.9M
MEDICAL BUILDING Current
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
APARTMENT HOUSE (5+ UNITS)
WAREHOUSE, STORAGE
RETAIL STORES
OFFICE BUILDING
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
1955
Construction
STONE
Heating
NONE
Stories
2
Lot
0.53 ac
Current owner
From public records · entity-resolved
FAN FREE CLINIC INC
Entity
Free & Clear · 0 yrs held
Mailing address
PO BOX 6477, RICHMOND, VA 23230-0477
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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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