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Property profile & analytics
FOR LEASE
Retail space
11500-11556 Busy St Richmond, VA 23236
Entity Owned
7-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US87-3793281
For Lease
1 / 8
$22 SF/Yr
11500-11556 Busy St, Richmond, VA 23236
View Listing →
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2008
Total area
21,562 SF
Lot
1.24 ac (54,189 SF)
Zoning code
C3 - COMMUNITY BUS DIST
APN
741-70-73-39-300-000
UPID
US87-3793281
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
-
Plaza Azteca Restaurant
-
EDC Construction Company General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$3.62M
Comparable Approach
Comparable
$4.77M
Blend (final)
Blend
$3.71M
Owner & transaction history
Gdc Courthouse Se 2 LLC · 7 yrs held
Gdc Courthouse Se 2 LLC
since 2018
4 recorded transactions
Zoning & alternative use
C3 - COMMUNITY BUS DIST · North Chesterfield, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$6.1M
+95.3%
Commercial (general)
$5.3M
+69.1%
Auto repair, garage
$3.9M
+26.4%
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 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%
$3,920,000
6.5%
$3,620,000
7%
$3,360,000
Alternative Use
Use
Estimation
RETAIL STORES
$3,105,000
Current use
RESTAURANT
$6,070,000
Change: +95% · Conversion: Easy
COMMERCIAL (GENERAL)
$5,255,000
Change: +69% · Conversion: Easy
AUTO REPAIR, GARAGE
$3,925,000
Change: +26% · Conversion: Difficult
MEDICAL BUILDING
$3,590,000
Change: +16% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$3,540,000
Change: +14% · Conversion: Moderate
APARTMENT HOUSE (5+ UNITS)
$3,465,000
Change: +12% · Conversion: Difficult
Blend value · Realmo final
$3.71M
Range $3.34M – $4.08M · ±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
$172 / 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 2024Property tax & assessments
Tax year 2024
Tax billed
$43,815
Tax year 2024
Assessed value
$4,721,700
Assessed 2024
Previous assessed
$4,721,700
+0.0% YoY
Effective rate
0.93%
On assessed value
Assessed land
$634,000
Assessed improvement
$4,087,700
Land market value
$634,000
Improvement market value
$4,087,700
Total market value
$4,721,700
Applied tax rate
5.0000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
For Lease
Year built
2008
Heating
NONE
Stories
1
Total area
21,562 SF
Lot
1.24 ac (54,189 SF)
Zoning code
C3 - COMMUNITY BUS DIST
APN
741-70-73-39-300-000
UPID
US87-3793281
Jurisdiction
CHESTERFIELD
Zoning & alternative use
C3 - COMMUNITY BUS DIST · North Chesterfield, VA
Zoning C3 - COMMUNITY BUS DIST · permitted uses
C3 - COMMUNITY BUS DIST · North Chesterfield, VA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
North Chesterfield. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$3.1M
RESTAURANT
Est. value
$6.1M
COMMERCIAL (GENERAL)
Est. value
$5.3M
AUTO REPAIR, GARAGE
Est. value
$3.9M
MEDICAL BUILDING
Est. value
$3.6M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$3.5M
APARTMENT HOUSE (5+ UNITS)
Est. value
$3.5M
RETAIL STORES Current
RESTAURANT
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
MEDICAL BUILDING
NEIGHBORHOOD: SHOPPING CENTER
APARTMENT HOUSE (5+ UNITS)
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
2008
Heating
NONE
Stories
1
Lot
1.24 ac
Current owner
From public records · entity-resolved
Gdc Courthouse Se 2 LLC
Entity
Mailing address
7910 WOODMONT AVE STE #1155, BETHESDA, MD 20814-7065
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2018
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
Sep 5, 2018
$500,000
Gdc Courthouse Se 2 LLC
Branchway Assocs LLC
Grant Deed
$4,000,000 · Mainstreet Bk
Oct 12, 2012
—
Branchway Assoc LLC
—
Deed Of Trust
related
$5,085,000 · Citizens & Farmers Bank
Aug 5, 2010
—
Branchway Assoc LLC
—
Deed Of Trust
related
$5,085,000 · Citizens & Farmers Bank
Nov 19, 2007
$1,196,863
Branchway Associates LLC
Ewn Development Co INC
Grant Deed
$4,750,000 · Citizens & Farmers Bank
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
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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