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Property profile & analytics
OFF-MARKET
Estimated value
$905,000
Office buildings
1231 Alverser Dr Midlothian, VA 23113-2650
Entity Owned
17-yr Hold
Free & Clear
Property ID
US87-3628411
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1989
Total area
4,543 SF
Lot
0.65 ac (28,314 SF)
Zoning code
O2 - CORP OFFICE DIST
APN
739-70-93-59-200-000
UPID
US87-3628411
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
-
RE/MAX Commonwealth Real Estate Agency
-
Bernie Stewart-Johns, RE/MAX Commonwealth Real Estate Agency
-
Patricia Clark Has Virginia Homes Listed Online Real Estate Agency
-
boyd smith, RE/MAX Commonwealth Real Estate Agency
-
Anne Thompson, RE/MAX Commonwealth Real Estate Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$820k
Comparable Approach
Comparable
$1.05M
Blend (final)
Blend
$905k
Owner & transaction history
Karbo LLC · 17 yrs held
Karbo LLC
since 2008
3 recorded transactions
Zoning & alternative use
O2 - CORP OFFICE DIST · Midlothian, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.1M
+6.2%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$885,000
6.5%
$820,000
7%
$760,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,060,000
Current use
AUTO REPAIR, GARAGE
$1,125,000
Change: +6% · Conversion: Difficult
RETAIL STORES
$915,000
Change: -13% · Conversion: Moderate
Blend value · Realmo final
$905k
Range $815k – $996k · ±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
$199 / 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
$10,886
Tax year 2024
Assessed value
$1,167,000
Assessed 2024
Previous assessed
$1,098,600
+6.2% YoY
Effective rate
0.93%
On assessed value
Assessed land
$239,300
Assessed improvement
$927,700
Land market value
$239,300
Improvement market value
$927,700
Total market value
$1,167,000
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1989
Heating
NONE
Stories
1
Total area
4,543 SF
Lot
0.65 ac (28,314 SF)
Zoning code
O2 - CORP OFFICE DIST
APN
739-70-93-59-200-000
UPID
US87-3628411
Jurisdiction
CHESTERFIELD
Zoning & alternative use
O2 - CORP OFFICE DIST · Midlothian, VA
Zoning O2 - CORP OFFICE DIST · permitted uses
O2 - CORP OFFICE 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
OFFICE BUILDING Current
Est. value
$1.1M
AUTO REPAIR, GARAGE
Est. value
$1.1M
RETAIL STORES
Est. value
$915,000
OFFICE BUILDING Current
AUTO REPAIR, GARAGE
RETAIL STORES
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
1989
Heating
NONE
Stories
1
Lot
0.65 ac
Current owner
From public records · entity-resolved
Karbo LLC
Entity
Free & Clear · 17 yrs held
Mailing address
1231 ALVERSER DR, MIDLOTHIAN, VA 23113-2650
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2008
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
Aug 25, 2008
$1,225,000
Karbo LLC
Village Bk & Trust Fin Corp
Grant Deed
—
Aug 25, 2008
—
Karbo LLC
—
Deed Of Trust
related
$1,041,250 · First Citizens Bank & Trust Co
Feb 6, 2007
—
Village Bank & Trust Fin Corp
Southern Comm Bank & Trust INC
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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