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Property profile & analytics
OFF-MARKET
Estimated value
$1,960,000
Retail space
12421 10th Plz Midlothian, VA 23112-4869
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US87-0681374
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2004
Total area
7,085 SF
Lot
1.27 ac (55,147 SF)
Zoning code
I1 - LT INDUSTRIAL DIST
APN
736-68-09-06-000-000
UPID
US87-0681374
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
by Request
CAP Approach
CAP
$1.38M
Comparable Approach
Comparable
$1.81M
Blend (final)
Blend
$1.96M
Owner & transaction history
Tennessee Plaza Investor LLC · 1 yrs held
Tennessee Plaza Investor LLC
since 2024
Last sale
$2.3M
4 recorded transactions
Zoning & alternative use
I1 - LT INDUSTRIAL DIST · Midlothian, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$3.2M
+121.6%
Restaurant
$3.1M
+115.6%
Auto repair, garage
$1.8M
+22.5%
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 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%
$1,495,000
6.5%
$1,380,000
7%
$1,285,000
Alternative Use
Use
Estimation
RETAIL STORES
$1,430,000
Current use
COMMERCIAL (GENERAL)
$3,170,000
Change: +122% · Conversion: Easy
RESTAURANT
$3,085,000
Change: +116% · Conversion: Easy
AUTO REPAIR, GARAGE
$1,750,000
Change: +22% · Conversion: Difficult
OFFICE BUILDING
$1,215,000
Change: -15% · Conversion: Easy
Blend value · Realmo final
$1.96M
Range $1.76M – $2.16M · ±10% · vs last sale $2.33M (Sep 11 2024)
Last sale anchor
$2.33M
Sep 11 2024
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
$277 / 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
$13,821
Tax year 2024
Assessed value
$1,512,300
Assessed 2024
Previous assessed
$1,501,900
+0.7% YoY
Effective rate
0.91%
On assessed value
Assessed land
$849,300
Assessed improvement
$663,000
Land market value
$849,300
Improvement market value
$663,000
Total market value
$1,512,300
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
2004
Heating
NONE
Stories
1
Total area
7,085 SF
Lot
1.27 ac (55,147 SF)
Zoning code
I1 - LT INDUSTRIAL DIST
APN
736-68-09-06-000-000
UPID
US87-0681374
Jurisdiction
CHESTERFIELD
Zoning & alternative use
I1 - LT INDUSTRIAL DIST · Midlothian, VA
Zoning I1 - LT INDUSTRIAL DIST · permitted uses
I1 - LT INDUSTRIAL 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
$1.4M
COMMERCIAL (GENERAL)
Est. value
$3.2M
RESTAURANT
Est. value
$3.1M
AUTO REPAIR, GARAGE
Est. value
$1.8M
OFFICE BUILDING
Est. value
$1.2M
RETAIL STORES Current
COMMERCIAL (GENERAL)
RESTAURANT
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
2004
Heating
NONE
Stories
1
Lot
1.27 ac
Current owner
From public records · entity-resolved
Tennessee Plaza Investor LLC
Entity
Mailing address
PO BOX 5160, GLEN ALLEN, VA 23058-5160
Ownership since
2024
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
Dec 11, 2024
$2,325,000
Tennessee Plaza Investor LLC
Tennessee Plaza LLC
Warranty Deed
$1,743,750 · United Bank
Jan 30, 2014
$1,640,000
Tennessee Plaza LLC
Fr Midlothian Properties LLC
Grant Deed
$600,000 · Branch Bk&tr
Jul 6, 2005
$2,257,714
Fitness Resource INC
Fitness Resource INC
Deed Of Trust
related
$1,620,000 · Wachovia Mortgage Co
Apr 6, 2004
$400,000
Realty Partnership Interests
Chesterfield Crossing LLC
Grant Deed
$1,016,742 · Cnb National Bank
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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