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Property profile & analytics
FOR LEASE
Industrial properties
1504 E Parham Rd, Richmond, VA 23228
Entity Owned
Free & Clear
Property ID
US87-1067255
For Lease
1 / 19
$8,675,000
1504 E Parham Rd, Richmond, VA 23228
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Property profile
Verified
Property type
Industrial properties
Use group
MIXED USE (COMMERCIAL/INDUSTRIAL)
Year built
1990
Total area
51,456 SF
Lot
5.26 ac (229,213 SF)
Zoning code
O-S
APN
781-758-0916
UPID
US87-1067255
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
-
Isalis (Bike/Boat/Book/etc) Store
-
Party City Party Supply Store (Bike/Boat/Book/etc) Store
-
Skunk Funk Big Box & Wholesale Store
-
Carl's Trading Co Hat Shop
-
Bushka's Kitchen LLC (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$9.89M
Comparable Approach
Comparable
$8.54M
Blend (final)
Blend
$8.68M
Owner & transaction history
Pine25 Parham LLC
Pine25 Parham LLC
since 2025
5 recorded transactions
Zoning & alternative use
O-S · Henrico, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$9.4M
+29.5%
Medical building
$8.6M
+18.5%
Neighborhood: shopping center
$8.5M
+16.8%
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 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%
$10,710,000
6.5%
$9,885,000
7%
$9,180,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$7,235,000
Current use
AUTO REPAIR, GARAGE
$9,370,000
Change: +30% · Conversion: Difficult
MEDICAL BUILDING
$8,570,000
Change: +18% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$8,455,000
Change: +17% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$8,270,000
Change: +14% · Conversion: Moderate
RETAIL STORES
$7,415,000
Change: +2% · Conversion: Easy
OFFICE BUILDING
$7,235,000
Change: +0% · Conversion: Easy
Blend value · Realmo final
$8.68M
Range $7.81M – $9.54M · ±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
$169 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$60,518
Tax year 2023
Assessed value
$7,291,300
Assessed 2024
Previous assessed
$7,291,300
+0.0% YoY
Effective rate
0.83%
On assessed value
Assessed land
$473,400
Assessed improvement
$6,817,900
Land market value
$473,400
Improvement market value
$6,817,900
Total market value
$7,291,300
Applied tax rate
4.0000
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
Industrial properties
Use group
MIXED USE (COMMERCIAL/INDUSTRIAL)
Status
For Lease
Year built
1990
Heating
SPACE
Cooling
AC.PACKAGE
Stories
1
Total area
51,456 SF
Lot
5.26 ac (229,213 SF)
Zoning code
O-S
APN
781-758-0916
UPID
US87-1067255
Jurisdiction
HENRICO
Zoning & alternative use
O-S · Henrico, VA
Zoning O-S · permitted uses
O-S · Henrico, VA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Henrico. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$7.2M
AUTO REPAIR, GARAGE
Est. value
$9.4M
MEDICAL BUILDING
Est. value
$8.6M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$8.5M
APARTMENT HOUSE (5+ UNITS)
Est. value
$8.3M
RETAIL STORES
Est. value
$7.4M
OFFICE BUILDING
Est. value
$7.2M
COMMERCIAL (GENERAL) Current
AUTO REPAIR, GARAGE
MEDICAL BUILDING
NEIGHBORHOOD: SHOPPING CENTER
APARTMENT HOUSE (5+ UNITS)
RETAIL STORES
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
1990
Heating
SPACE
Cooling
Yes
Stories
1
Lot
5.26 ac
Current owner
From public records · entity-resolved
Pine25 Parham LLC
Entity
Free & Clear · 0 yrs held
Mailing address
121 CONGRESSIONAL LN STE #200, ROCKVILLE, MD 20852-1542
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 20, 2025
$20,650,000
Pine25 Parham LLC
Parham Plaza Owner LLC
Special Warranty Deed
—
Jun 2, 2023
—
North Urn Lh LLC
—
Deed
related
$34,000,000 · Bank Of Montreal And Starwood Mortgage C
May 31, 2023
$17,300,000
Parham Plaza Owner LLC
Pr II Rp Parham Plaza LLC
Special Warranty Deed
$71,500,000 · Eaglebank
Dec 30, 2016
$23,465,000
North Run Lh LLC
Lit Industrial Ltd Ptshp
Grant Deed
—
Jan 4, 2010
—
Lit Industrial LP
—
Deed Of Trust
related
$347,500,000 · Bank Of America
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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