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Property profile & analytics
OFF-MARKET
Estimated value
$15,400,000
Super regional malls
1505 Parham Rd Henrico, VA 23229-4604
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US87-0795107
Property profile
Verified
Property type
Super regional malls
Use group
REGIONAL SHOPPING CENTER, MALL
Year built
1969
Total area
66,960 SF
Lot
6.17 ac (268,765 SF)
Zoning code
B-2
APN
754-744-1970
UPID
US87-0795107
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
$13.37M
Comparable Approach
Comparable
$12.74M
Blend (final)
Blend
$15.40M
Owner & transaction history
Ridge Shopping Center Owner LLC · 3 yrs held
Ridge Shopping Center Owner LLC
since 2023
Last sale
$20.3M
4 recorded transactions
Zoning & alternative use
B-2 · Henrico, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$18.8M
+71.3%
Auto repair, garage
$12.2M
+10.9%
Medical building
$11.2M
+1.4%
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 Henrico submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Henrico 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
$17,560,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$14,480,000
6.5%
$13,365,000
7%
$12,410,000
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$11,000,000
Current use
RESTAURANT
$18,845,000
Change: +71% · Conversion: Difficult
AUTO REPAIR, GARAGE
$12,195,000
Change: +11% · Conversion: Difficult
MEDICAL BUILDING
$11,155,000
Change: +1% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$10,765,000
Change: -2% · Conversion: Difficult
COMMERCIAL (GENERAL)
$10,575,000
Change: -4% · Conversion: Easy
RETAIL STORES
$9,645,000
Change: -12% · Conversion: Easy
OFFICE BUILDING
$9,550,000
Change: -13% · Conversion: Moderate
Blend value · Realmo final
$15.40M
Range $13.86M – $16.94M · ±10% · vs last sale $20.30M (May 31 2023)
Last sale anchor
$20.30M
May 31 2023
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
$230 / 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
$89,979
Tax year 2023
Assessed value
$10,840,800
Assessed 2024
Previous assessed
$10,840,800
+0.0% YoY
Effective rate
0.83%
On assessed value
Assessed land
$2,687,700
Assessed improvement
$8,153,100
Land market value
$2,687,700
Improvement market value
$8,153,100
Total market value
$10,840,800
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
Super regional malls
Use group
REGIONAL SHOPPING CENTER, MALL
Status
Off-Market
Year built
1969
Heating
NONE
Cooling
AC.PACKAGE
Stories
1
Total area
66,960 SF
Lot
6.17 ac (268,765 SF)
Zoning code
B-2
APN
754-744-1970
UPID
US87-0795107
Jurisdiction
HENRICO
Zoning & alternative use
B-2 · Henrico, VAZoning B-2 · permitted uses
B-2 · Henrico, VA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$11.0M
RESTAURANT
Est. value
$18.8M
AUTO REPAIR, GARAGE
Est. value
$12.2M
MEDICAL BUILDING
Est. value
$11.2M
APARTMENT HOUSE (5+ UNITS)
Est. value
$10.8M
COMMERCIAL (GENERAL)
Est. value
$10.6M
RETAIL STORES
Est. value
$9.6M
OFFICE BUILDING
Est. value
$9.6M
NEIGHBORHOOD: SHOPPING CENTER Current
RESTAURANT
AUTO REPAIR, GARAGE
MEDICAL BUILDING
APARTMENT HOUSE (5+ UNITS)
COMMERCIAL (GENERAL)
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
1969
Heating
NONE
Cooling
Yes
Stories
1
Lot
6.17 ac
Current owner
From public records · entity-resolved
Ridge Shopping Center Owner LLC
Entity
Mailing address
1945 OLD GALLOWS RD STE #300, VIENNA, VA 22182-3931
Ownership since
2023
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
Jun 2, 2023
—
Parham Plaza Owner LLC
—
Deed
related
$71,500,000 · Eaglebank
May 31, 2023
$20,300,000
Ridge Shopping Center Owner LLC
Pr II Rp Ridge Shopping Center LLC
Special Warranty Deed
$71,500,000 · Eaglebank
Jan 30, 2015
—
Ridge Sc LLC
Lcl Co
Grant Deed
related
—
—
—
Lcl Co
—
Deed Of Trust
related
$5,000,000 · Charles M JR & Robert L Marchetti
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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