Back to Search
Property profile & analytics
FOR LEASE
Auto shops
1209 N Arthur Ashe Blvd Richmond, VA 23230
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US87-0932102
For Lease
1 / 22
$2,255,000
1209 N Arthur Ashe Blvd, Richmond, VA 23230
View Listing →
Property profile
Verified
Property type
Auto shops
Use group
AUTO REPAIR, GARAGE
Year built
1948
Construction
TYPE NOT SPECIFIED
Total area
12,892 SF
Lot
0.56 ac (24,419 SF)
Zoning code
M-1 LIGHT INDUSTRIAL
APN
N-000-1503-030
UPID
US87-0932102
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.02M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.38M
Blend (final)
Blend
$2.26M
Owner & transaction history
Comm Aa Owner LLC · 5 yrs held
Comm Aa Owner LLC
since 2021
Last sale
$2.5M
5 recorded transactions
Zoning & alternative use
M-1 LIGHT INDUSTRIAL · Richmond, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$3.6M
+54.5%
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
$1,875,000
ML approach
$2,015,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
AUTO REPAIR, GARAGE
$2,350,000
Current use
RESTAURANT
$3,630,000
Change: +55% · Conversion: Difficult
MEDICAL BUILDING
$2,150,000
Change: -9% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$2,120,000
Change: -10% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$2,075,000
Change: -12% · Conversion: Difficult
WAREHOUSE, STORAGE
$1,915,000
Change: -18% · Conversion: Easy
Blend value · Realmo final
$2.26M
Range $2.03M – $2.48M · ±10% · vs last sale $2.50M (Jul 12 2021)
Last sale anchor
$2.50M
Jul 12 2021
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
$175 / 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
$2,722,000
Assessed 2024
Previous assessed
$2,930,000
-7.1% YoY
Effective rate
0.00%
On assessed value
Assessed land
$2,449,000
Assessed improvement
$273,000
Land market value
$2,449,000
Improvement market value
$273,000
Total market value
$2,722,000
Applied tax rate
2.0000
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
Auto shops
Use group
AUTO REPAIR, GARAGE
Status
For Lease
Year built
1948
Construction
TYPE NOT SPECIFIED
Heating
YES
Stories
1
Bathrooms
1
Total area
12,892 SF
Lot
0.56 ac (24,419 SF)
Zoning code
M-1 LIGHT INDUSTRIAL
APN
N-000-1503-030
UPID
US87-0932102
Jurisdiction
RICHMOND CITY
Zoning & alternative use
M-1 LIGHT INDUSTRIAL · Richmond, VA
Zoning M-1 LIGHT INDUSTRIAL · permitted uses
M-1 LIGHT INDUSTRIAL · 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
AUTO REPAIR, GARAGE Current
Est. value
$2.4M
RESTAURANT
Est. value
$3.6M
MEDICAL BUILDING
Est. value
$2.2M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.1M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.1M
WAREHOUSE, STORAGE
Est. value
$1.9M
AUTO REPAIR, GARAGE Current
RESTAURANT
MEDICAL BUILDING
NEIGHBORHOOD: SHOPPING CENTER
APARTMENT HOUSE (5+ UNITS)
WAREHOUSE, STORAGE
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
1948
Construction
TYPE NOT SPECIFIED
Heating
YES
Stories
1
Bathrooms
1
Lot
0.56 ac
Current owner
From public records · entity-resolved
Comm Aa Owner LLC
Entity
Mailing address
2920 W BROAD ST #110, RICHMOND, VA 23230-5103
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 12, 2021
$2,500,000
Comm Aa Owner LLC
Wtp Lc
Special Warranty Deed
—
—
—
Wtp Lc
—
Deed Of Trust
related
$300,000 · Provident Bk/cincinnati
—
—
Bhl Lc
—
Loan Modification
related
$2,024,720 · First Cap Bk
—
—
Bhl Lc
—
Deed Of Trust
related
$1,660,000 · First Cap Bk
—
—
Bhl Lc
—
Loan Modification
related
$2,321,000 · First Cap Bk
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?”
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.
