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Property profile & analytics
OFF-MARKET
Estimated value
$4,595,000
Retail space
1200 Alverser Dr Midlothian, VA 23113-2649
Individually Owned
3-yr Hold
~
Est. High Equity
Property ID
US87-0929354
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1988
Total area
20,000 SF
Lot
2.94 ac (128,197 SF)
Zoning code
C3 - COMMUNITY BUS DIST
APN
738-70-98-16-800-000
UPID
US87-0929354
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
-
Southern States - Midlothian Agricultural Service Animal Feed Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$4.35M
CAP Approach
CAP
$3.90M
Comparable Approach
Comparable
$2.93M
Blend (final)
Blend
$4.60M
Owner & transaction history
William Gardner · 3 yrs held
William Gardner
since 2022
Last sale
$5.0M
4 recorded transactions
Zoning & alternative use
C3 - COMMUNITY BUS DIST · Midlothian, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$7.5M
+85.9%
Auto repair, garage
$4.9M
+22.5%
Office building
$4.7M
+15.4%
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 Midlothian submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Midlothian 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
$4,725,000
ML approach
$4,350,000
CAP Approach
CAP Return
Estimation
6%
$4,225,000
6.5%
$3,900,000
7%
$3,620,000
Alternative Use
Use
Estimation
RETAIL STORES
$4,040,000
Current use
COMMERCIAL (GENERAL)
$7,510,000
Change: +86% · Conversion: Easy
AUTO REPAIR, GARAGE
$4,945,000
Change: +22% · Conversion: Difficult
OFFICE BUILDING
$4,660,000
Change: +15% · Conversion: Easy
Blend value · Realmo final
$4.60M
Range $4.14M – $5.05M · ±10% · vs last sale $5.00M (Nov 22 2022)
Last sale anchor
$5.00M
Nov 22 2022
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
$230 / 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
$25,598
Tax year 2024
Assessed value
$2,687,300
Assessed 2024
Previous assessed
$2,272,100
+18.3% YoY
Effective rate
0.95%
On assessed value
Assessed land
$833,300
Assessed improvement
$1,854,000
Land market value
$833,300
Improvement market value
$1,854,000
Total market value
$2,687,300
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
Off-Market
Year built
1988
Heating
NONE
Stories
1
Total area
20,000 SF
Lot
2.94 ac (128,197 SF)
Zoning code
C3 - COMMUNITY BUS DIST
APN
738-70-98-16-800-000
UPID
US87-0929354
Jurisdiction
CHESTERFIELD
Zoning & alternative use
C3 - COMMUNITY BUS DIST · Midlothian, VA
Zoning C3 - COMMUNITY BUS DIST · permitted uses
C3 - COMMUNITY BUS DIST · Midlothian, VA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Midlothian. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$4.0M
COMMERCIAL (GENERAL)
Est. value
$7.5M
AUTO REPAIR, GARAGE
Est. value
$4.9M
OFFICE BUILDING
Est. value
$4.7M
RETAIL STORES Current
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
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
1988
Heating
NONE
Stories
1
Lot
2.94 ac
Current owner
From public records · entity-resolved
William Gardner
Individual
Mailing address
681 VERNON ST, OAKLAND, CA 94610-1419
Ownership since
2022
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
Nov 22, 2022
$5,000,000
William Gardner
1200 Alveser LLC
Special Warranty Deed
$3,250,000 · Union Bank & Trust
Feb 11, 2019
—
Alverser LLC
—
Deed
related
$2,100,000 · First Citizens Bk
Feb 5, 2014
$2,550,000
1200 Alverser LLC
Bowles,eugene G JR
Grant Deed
$1,657,500 · Chain Bridge Bk NA
Jun 17, 2010
—
Eugene G Bowles JR.
Bowles,eugene G JR & Margaret D
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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