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Property profile & analytics
OFF-MARKET
Estimated value
$2,400,000
Apartment buildings
1301 Grv Ave Richmond, VA 23220-4750
Entity Owned
2-yr Hold
Free & Clear
Property ID
US87-1319973
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1879
Construction
TYPE NOT SPECIFIED
Total area
10,695 SF
Lot
0.09 ac (4,090 SF)
Zoning code
R-6 SINGLE FAMILY ATTACHE
APN
W-000-0457-007
UPID
US87-1319973
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
$2.40M
CAP Approach
CAP
$2.04M
Comparable Approach
Comparable
$1.54M
Blend (final)
Blend
$2.40M
Owner & transaction history
Jokity Investments LLC · 2 yrs held
Jokity Investments LLC
since 2024
Last sale
$2.4M
4 recorded transactions
Zoning & alternative use
R-6 SINGLE FAMILY ATTACHE · Richmond, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$3.0M
+62.9%
Retail stores
$2.7M
+45.5%
Commercial (general)
$2.0M
+6.7%
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
$2,400,000
ML approach
$2,400,000
CAP Approach
CAP Return
Estimation
6%
$2,210,000
6.5%
$2,040,000
7%
$1,895,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$1,850,000
Current use
RESTAURANT
$3,010,000
Change: +63% · Conversion: Difficult
RETAIL STORES
$2,690,000
Change: +46% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,970,000
Change: +7% · Conversion: Moderate
AUTO REPAIR, GARAGE
$1,950,000
Change: +5% · Conversion: Difficult
MEDICAL BUILDING
$1,780,000
Change: -4% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$1,755,000
Change: -5% · Conversion: Difficult
Blend value · Realmo final
$2.40M
Range $2.16M – $2.64M · ±10% · vs last sale $2.40M (Jan 18 2024)
Last sale anchor
$2.40M
Jan 18 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
$224 / 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
$1,497,000
Assessed 2024
Previous assessed
$1,497,000
+0.0% YoY
Effective rate
0.00%
On assessed value
Assessed land
$205,000
Assessed improvement
$1,292,000
Land market value
$205,000
Improvement market value
$1,292,000
Total market value
$1,497,000
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
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Status
Off-Market
Year built
1879
Construction
TYPE NOT SPECIFIED
Heating
YES
Stories
3
Units
9
Rooms
9
Bathrooms
9
Total area
10,695 SF
Lot
0.09 ac (4,090 SF)
Zoning code
R-6 SINGLE FAMILY ATTACHE
APN
W-000-0457-007
UPID
US87-1319973
Jurisdiction
RICHMOND CITY
Zoning & alternative use
R-6 SINGLE FAMILY ATTACHE · Richmond, VA
Zoning R-6 SINGLE FAMILY ATTACHE · permitted uses
R-6 SINGLE FAMILY ATTACHE · 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
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$1.9M
RESTAURANT
Est. value
$3.0M
RETAIL STORES
Est. value
$2.7M
COMMERCIAL (GENERAL)
Est. value
$2.0M
AUTO REPAIR, GARAGE
Est. value
$2.0M
MEDICAL BUILDING
Est. value
$1.8M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.8M
APARTMENT HOUSE (5+ UNITS) Current
RESTAURANT
RETAIL STORES
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
MEDICAL BUILDING
NEIGHBORHOOD: SHOPPING CENTER
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
1879
Construction
TYPE NOT SPECIFIED
Heating
YES
Stories
3
Units
9
Rooms
9
Bathrooms
9
Lot
0.09 ac
Current owner
From public records · entity-resolved
Jokity Investments LLC
Entity
Free & Clear · 2 yrs held
Mailing address
9811 MIDLOTHIAN TPKE, NORTH CHESTERFIELD, VA 23235-4811
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
Jan 18, 2024
$2,400,000
Jokity Investments LLC
1301 Grove Avenue LLC
Warranty Deed
—
May 19, 2016
$1,100,000
1301 Grove Ave LLC
Kip Kephart Foundation
Grant Deed
—
Mar 5, 2010
—
Kip Kephart Foundation
Rula Steve JR
Quit Claim Deed
related
—
—
—
Kip Kephart Foundation
—
Loan Modification
related
$675,000 · First Market 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.
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