Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$630,000
Turn key restaurants
111 Grace St Richmond, VA 23219-1741
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US87-0739443
Property summary
AI-generated overview
This exceptional investment opportunity presents a 2,160 square foot, single-tenant retail property located at 111 E Grace St, Richmond, VA 23219. The property, built in 1930 and boasting a charming Art Deco design, sits on a 0.097-acre lot and is zoned B-4. Currently occupied at 100% capacity by a renowned delicatessen, the property benefits from a strong Net Net Net (NNN) lease extending until December 31, 2029. The tenant, a celebrated establishment featured on the Food Network and ranked among Yelp's Top 100 US restaurants, enjoys a prime location in Richmond's vibrant Grace Street Commercial Historic District, ensuring consistent high foot traffic. This landmark property offers a unique blend of historical significance, strong financial performance, and significant future growth potential. The asking price is $840,000. The property consists of one, single-story building. The APN is W0000063006. This is a rare chance to acquire a piece of Richmond's culinary history and secure a stable, high-return investment.
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1930
Construction
TYPE NOT SPECIFIED
Total area
2,160 SF
Lot
0.1 ac (4,239 SF)
Zoning code
B-4 CENTRAL BUSINESS
APN
W-000-0063-006
UPID
US87-0739443
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
-
Perly's Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$475k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$630k
Owner & transaction history
Real Estate 2035 LLC · 1 yrs held
Real Estate 2035 LLC
since 2025
Last sale
$815,000
4 recorded transactions
Zoning & alternative use
B-4 CENTRAL BUSINESS · Richmond, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
$525,000
ML approach
$475,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$630k
Range $567k – $693k · ±10% · vs last sale $815k (Mar 21 2025)
Last sale anchor
$815k
Mar 21 2025
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
$292 / 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
$581,000
Assessed 2024
Previous assessed
$581,000
+0.0% YoY
Effective rate
0.00%
On assessed value
Assessed land
$257,000
Assessed improvement
$324,000
Land market value
$257,000
Improvement market value
$324,000
Total market value
$581,000
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
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
1930
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
YES
Stories
1
Bathrooms
1
Total area
2,160 SF
Lot
0.1 ac (4,239 SF)
Zoning code
B-4 CENTRAL BUSINESS
APN
W-000-0063-006
UPID
US87-0739443
Jurisdiction
RICHMOND CITY
Zoning & alternative use
B-4 CENTRAL BUSINESS · Richmond, VA
Zoning B-4 CENTRAL BUSINESS · permitted uses
B-4 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.
Building & site characteristics
From public records
Year built
1930
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
Yes
Stories
1
Bathrooms
1
Lot
0.1 ac
Current owner
From public records · entity-resolved
Real Estate 2035 LLC
Entity
Mailing address
7908 BLUEBERRY HL CT, HENRICO, VA 23229-6600
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 21, 2025
$815,000
Real Estate 2035 LLC
Cdi Grace LLC
Special Warranty Deed
$692,750 · Southstate Bank NA
Dec 21, 2021
—
Cdi Grace LLC
—
Deed
related
$415,000 · Virginia National Bank
Feb 21, 2014
$350,000
Cdi Grace LLC
Wyatt,h Gray
Grant Deed
$230,999 · H Gray JR Wyatt
May 23, 2005
—
Wyatt,h Gray
Wyatt,h Gray & Daniela D
Quit Claim Deed
related
$170,000 · Branch Bk&tr/va
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 111 Grace St?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
