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Property profile & analytics
OFF-MARKET
Estimated value
$2,045,000
Turn key restaurants
12231 Chattanooga Plz Midlothian, VA 23112-4865
Entity Owned
5-yr Hold
Free & Clear
Property ID
US87-0013632
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
2005
Total area
5,555 SF
Lot
1.59 ac (69,391 SF)
Zoning code
C3 - COMMUNITY BUS DIST
APN
737-68-18-73-000-000
UPID
US87-0013632
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
-
Chili's Grill & Bar Restaurant
-
It's Just Wings Restaurant
-
Olivet Self Storage Unit Midlothian VA Storage Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.01M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.29M
Blend (final)
Blend
$2.05M
Owner & transaction history
Fcpt Holdings LLC · 5 yrs held
Fcpt Holdings LLC
since 2021
Last sale
$2.0M
3 recorded transactions
Zoning & alternative use
C3 - COMMUNITY BUS DIST · Midlothian, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$2.5M
+2.8%
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
$2,090,000
ML approach
$2,010,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$2,420,000
Current use
COMMERCIAL (GENERAL)
$2,485,000
Change: +3% · Conversion: Easy
Blend value · Realmo final
$2.05M
Range $1.84M – $2.25M · ±10% · vs last sale $2.04M (Mar 26 2021)
Last sale anchor
$2.04M
Mar 26 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
$368 / 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
$22,041
Tax year 2024
Assessed value
$2,414,000
Assessed 2024
Previous assessed
$2,345,900
+2.9% YoY
Effective rate
0.91%
On assessed value
Assessed land
$1,145,000
Assessed improvement
$1,269,000
Land market value
$1,145,000
Improvement market value
$1,269,000
Total market value
$2,414,000
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
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
2005
Heating
YES
Cooling
YES
Stories
1
Total area
5,555 SF
Lot
1.59 ac (69,391 SF)
Zoning code
C3 - COMMUNITY BUS DIST
APN
737-68-18-73-000-000
UPID
US87-0013632
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
RESTAURANT Current
Est. value
$2.4M
COMMERCIAL (GENERAL)
Est. value
$2.5M
RESTAURANT Current
COMMERCIAL (GENERAL)
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
YES
Cooling
Yes
Stories
1
Lot
1.59 ac
Current owner
From public records · entity-resolved
Fcpt Holdings LLC
Entity
Free & Clear · 5 yrs held
Mailing address
591 REDWOOD HWY FRONTAGE RD STE #3215, MILL VALLEY, CA 94941-6006
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 26, 2021
$2,037
Fcpt Holdings LLC
Chesterfield Restuarant Lc
Special Warranty Deed
—
Sep 5, 2017
$2,250,000
Chesterfield Restaurant LLC
Chesapeake Foods INC
Warranty Deed
related
—
Feb 18, 2005
$876,370
Chesapeake Foods INC
Chesterfield Crossing LLC
Grant 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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