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Property profile & analytics
OFF-MARKET
Estimated value
$13,230,000
Industrial properties
1550 Parham Rd, Henrico, VA 23228-2360
Entity Owned
9-yr Hold
Free & Clear
Property ID
US87-0848035
Property profile
Verified
Property type
Industrial properties
Use group
MIXED USE (COMMERCIAL/INDUSTRIAL)
Year built
1988
Total area
89,246 SF
Lot
7.19 ac (312,979 SF)
Zoning code
O-S
APN
780-758-6216
UPID
US87-0848035
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
$17.15M
Comparable Approach
Comparable
$11.93M
Blend (final)
Blend
$13.23M
Owner & transaction history
North Run Lh LLC · 9 yrs held
North Run Lh LLC
since 2016
3 recorded transactions
Zoning & alternative use
O-S · Henrico, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$16.3M
+29.5%
Medical building
$14.9M
+18.5%
Neighborhood: shopping center
$14.7M
+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 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$18,575,000
6.5%
$17,145,000
7%
$15,920,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$12,550,000
Current use
AUTO REPAIR, GARAGE
$16,255,000
Change: +30% · Conversion: Difficult
MEDICAL BUILDING
$14,865,000
Change: +18% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$14,660,000
Change: +17% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$14,345,000
Change: +14% · Conversion: Moderate
RETAIL STORES
$12,860,000
Change: +2% · Conversion: Easy
OFFICE BUILDING
$12,550,000
Change: +0% · Conversion: Easy
Blend value · Realmo final
$13.23M
Range $11.91M – $14.55M · ±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
$148 / 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
$84,529
Tax year 2023
Assessed value
$10,184,200
Assessed 2024
Previous assessed
$10,184,200
+0.0% YoY
Effective rate
0.83%
On assessed value
Assessed land
$646,200
Assessed improvement
$9,538,000
Land market value
$646,200
Improvement market value
$9,538,000
Total market value
$10,184,200
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
Off-Market
Year built
1988
Heating
SPACE
Cooling
AC.PACKAGE
Stories
1
Total area
89,246 SF
Lot
7.19 ac (312,979 SF)
Zoning code
O-S
APN
780-758-6216
UPID
US87-0848035
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
$12.6M
AUTO REPAIR, GARAGE
Est. value
$16.3M
MEDICAL BUILDING
Est. value
$14.9M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$14.7M
APARTMENT HOUSE (5+ UNITS)
Est. value
$14.3M
RETAIL STORES
Est. value
$12.9M
OFFICE BUILDING
Est. value
$12.6M
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
1988
Heating
SPACE
Cooling
Yes
Stories
1
Lot
7.19 ac
Current owner
From public records · entity-resolved
North Run Lh LLC
Entity
Free & Clear · 9 yrs held
Mailing address
121 CONGRESSIONAL LN STE #200, ROCKVILLE, MD 20852-1542
Ownership since
2016
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 2, 2023
—
North Urn Lh LLC
—
Deed
related
$34,000,000 · Bank Of Montreal And Starwood Mortgage C
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.
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