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Property profile & analytics
OFF-MARKET
Estimated value
$3,240,000
Strip malls
1221 Laburnum Ave Richmond, VA 23223-2179
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US87-1192026
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
2005
Total area
10,000 SF
Lot
1.38 ac (59,895 SF)
Zoning code
B-3
APN
809-729-4083
UPID
US87-1192026
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
-
Sara Marie's Gourmet Cuisine Restaurant
-
Touche Pies & Fries Bakery Specialty Food Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.17M
CAP Approach
CAP
$2.00M
Comparable Approach
Comparable
$3.11M
Blend (final)
Blend
$3.24M
Owner & transaction history
Rpy Dominion Village LLC · 2 yrs held
Rpy Dominion Village LLC
since 2023
Last sale
$4.0M
7 recorded transactions
Zoning & alternative use
B-3 · Richmond, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$2.8M
+71.3%
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
$3,150,000
ML approach
$3,170,000
CAP Approach
CAP Return
Estimation
6%
$2,160,000
6.5%
$1,995,000
7%
$1,855,000
Alternative Use
Use
Estimation
RESTAURANT
$2,815,000
Change: +71% · Conversion: Difficult
Blend value · Realmo final
$3.24M
Range $2.92M – $3.56M · ±10% · vs last sale $4.00M (Oct 11 2023)
Last sale anchor
$4.00M
Oct 11 2023
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
$324 / 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
Assessed value
$1,995,600
Assessed 2024
Previous assessed
$1,995,600
+0.0% YoY
Assessed land
$209,600
Assessed improvement
$1,786,000
Land market value
$209,600
Improvement market value
$1,786,000
Total market value
$1,995,600
Applied tax rate
4.0000
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
2005
Heating
HEAT PUMP
Stories
1
Total area
10,000 SF
Lot
1.38 ac (59,895 SF)
Zoning code
B-3
APN
809-729-4083
UPID
US87-1192026
Jurisdiction
HENRICO
Zoning & alternative use
B-3 · Richmond, VA
Zoning B-3 · permitted uses
B-3 · 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
RESTAURANT
Est. value
$2.8M
RESTAURANT
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
2005
Heating
HEAT PUMP
Stories
1
Lot
1.38 ac
Current owner
From public records · entity-resolved
Rpy Dominion Village LLC
Entity
Mailing address
11248 PRESCOTT PL, GLEN ALLEN, VA 23059-3421
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 11, 2023
$4,000,000
Rpy Dominion Village LLC
Dominion Village I LLC
Warranty Deed
$1,300,000 · Dominion Village I LLC
Feb 2, 2011
—
County Of Henrico
Dominion Village I LLC
Grant Deed
related
—
Apr 7, 2005
$150,000
Nvr INC
Ejd Associates INC
Grant Deed
—
Apr 6, 2005
$90,000
Nvr INC
Ejd Associates INC
Grant Deed
—
Mar 17, 2005
$50,000
Nvr INC
Ejd Associates INC
Grant Deed
—
Nov 5, 2004
$205,000
Dominion Village I LLC
Ejd Associates INC
Grant Deed
$1,280,000 · Bank Of Richmond
—
—
Dominion Village I LLC
—
Deed Of Trust
related
$1,115,000 · Union Bk&tr
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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