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Property profile & analytics
OFF-MARKET
Estimated value
$985,000
Strip malls
10605 Patterson Ave Henrico, VA 23238-4742
Entity Owned
11-yr Hold
Free & Clear
Property ID
US87-0328725
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1987
Total area
6,312 SF
Lot
2.66 ac (115,870 SF)
Zoning code
MIXE
APN
741-741-1794
UPID
US87-0328725
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
-
Isalis (Bike/Boat/Book/etc) Store
-
Party City Party Supply Store (Bike/Boat/Book/etc) Store
-
Skunk Funk Big Box & Wholesale Store
-
Carl's Trading Co Hat Shop
-
Bushka's Kitchen LLC (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.26M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$985k
Owner & transaction history
Wilton Commercial II LLC · 11 yrs held
Wilton Commercial II LLC
since 2014
1 recorded transaction
Zoning & alternative use
MIXE · Henrico, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.2M
+10.9%
Medical building
$1.1M
+1.4%
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 Henrico submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Henrico 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%
$1,365,000
6.5%
$1,260,000
7%
$1,170,000
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$1,035,000
Current use
AUTO REPAIR, GARAGE
$1,150,000
Change: +11% · Conversion: Difficult
MEDICAL BUILDING
$1,050,000
Change: +1% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$1,015,000
Change: -2% · Conversion: Difficult
COMMERCIAL (GENERAL)
$995,000
Change: -4% · Conversion: Easy
OFFICE BUILDING
$935,000
Change: -10% · Conversion: Moderate
RETAIL STORES
$910,000
Change: -12% · Conversion: Easy
Blend value · Realmo final
$985k
Range $887k – $1.08M · ±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
$156 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$23,797
Tax year 2023
Assessed value
$2,799,700
Assessed 2024
Previous assessed
$2,799,700
+0.0% YoY
Effective rate
0.85%
On assessed value
Assessed land
$1,042,800
Assessed improvement
$1,756,900
Land market value
$1,042,800
Improvement market value
$1,756,900
Total market value
$2,799,700
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1987
Heating
HEAT PUMP
Stories
1
Total area
6,312 SF
Lot
2.66 ac (115,870 SF)
Zoning code
MIXE
APN
741-741-1794
UPID
US87-0328725
Jurisdiction
HENRICO
Zoning & alternative use
MIXE · Henrico, VAZoning MIXE · permitted uses
MIXE · Henrico, VA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$1.0M
AUTO REPAIR, GARAGE
Est. value
$1.2M
MEDICAL BUILDING
Est. value
$1.1M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.0M
COMMERCIAL (GENERAL)
Est. value
$995,000
OFFICE BUILDING
Est. value
$935,000
RETAIL STORES
Est. value
$910,000
NEIGHBORHOOD: SHOPPING CENTER Current
AUTO REPAIR, GARAGE
MEDICAL BUILDING
APARTMENT HOUSE (5+ UNITS)
COMMERCIAL (GENERAL)
OFFICE BUILDING
RETAIL STORES
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
1987
Heating
HEAT PUMP
Stories
1
Lot
2.66 ac
Current owner
From public records · entity-resolved
Wilton Commercial II LLC
Entity
Free & Clear · 11 yrs held
Mailing address
4901 DICKENS RD STE #100, RICHMOND, VA 23230-1952
Ownership since
2014
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 29, 2014
—
Wilton Commercial II LLC
Wilton Companies LLC
Quit Claim Deed
related
—
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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