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Property profile & analytics
OFF-MARKET
Estimated value
$1,595,000
Flex space
1504 Belleville St Richmond, VA 23230-4438
Entity Owned
12-yr Hold
Free & Clear
Property ID
US87-3877254
Property profile
Verified
Property type
Flex space
Use group
LIGHT INDUSTRIAL
Year built
1984
Construction
TYPE NOT SPECIFIED
Total area
19,008 SF
Lot
0.66 ac (28,575 SF)
Zoning code
M-1 LIGHT INDUSTRIAL
APN
N-000-1799-004
UPID
US87-3877254
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
-
Massage Therapy Online Richmond Alternative Medicine Practice
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.86M
Comparable Approach
Comparable
$1.34M
Blend (final)
Blend
$1.60M
Owner & transaction history
John Freeland Props LLC · 12 yrs held
John Freeland Props LLC
since 2013
4 recorded transactions
Zoning & alternative use
M-1 LIGHT INDUSTRIAL · Richmond, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$2,010,000
6.5%
$1,855,000
7%
$1,720,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$1,960,000
Current use
Blend value · Realmo final
$1.60M
Range $1.44M – $1.75M · ±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
$84 / 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
$4,116,000
Assessed 2024
Previous assessed
$3,914,000
+5.2% YoY
Effective rate
0.00%
On assessed value
Assessed land
$1,544,000
Assessed improvement
$2,572,000
Land market value
$1,544,000
Improvement market value
$2,572,000
Total market value
$4,116,000
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
Flex space
Use group
LIGHT INDUSTRIAL
Status
Off-Market
Year built
1984
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
YES
Stories
1
Bathrooms
2
Total area
19,008 SF
Lot
0.66 ac (28,575 SF)
Zoning code
M-1 LIGHT INDUSTRIAL
APN
N-000-1799-004
UPID
US87-3877254
Jurisdiction
RICHMOND CITY
Zoning & alternative use
M-1 LIGHT INDUSTRIAL · Richmond, VA
Zoning M-1 LIGHT INDUSTRIAL · permitted uses
M-1 LIGHT INDUSTRIAL · 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
INDUSTRIAL (GENERAL) Current
Est. value
$2.0M
INDUSTRIAL (GENERAL) Current
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
1984
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
Yes
Stories
1
Bathrooms
2
Lot
0.66 ac
Current owner
From public records · entity-resolved
John Freeland Props LLC
Entity
Free & Clear · 12 yrs held
Mailing address
PO BOX 5160, GLEN ALLEN, VA 23058-5160
Ownership since
2013
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 13, 2013
$425,000
John Freeland Props LLC
First Citizens Bk & Trust Co
Grant Deed
—
Apr 22, 2013
$430,236
First-citizens Bank & Trust Co
Belleville Assoc LLC
Grant Deed
—
Jan 3, 2007
$755,000
Belleville Assocs
W Clark Hensley
Warranty Deed
$550,000 · 1st Citizens Bank & Trust
—
—
Bellville Assoc LLC
—
Deed Of Trust
related
$684,000 · Cit Small Busn Lndg
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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