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Property profile & analytics
FOR LEASE
Super regional malls
1601 Willow Lawn Dr Richmond, VA 23230
Entity Owned
Absentee Owner
Free & Clear
Property ID
US87-0792808
For Lease
1 / 2
$29,800,000
1601 Willow Lawn Dr, Richmond, VA 23230
View Listing →
Property profile
Verified
Property type
Super regional malls
Use group
REGIONAL SHOPPING CENTER, MALL
Year built
1958
Total area
319,512 SF
Lot
20.33 ac (885,662 SF)
Zoning code
UMU
APN
773-736-2198
UPID
US87-0792808
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
-
Noodles and Company Restaurant
-
Chick-fil-A Take-out & Catering Catering Service
-
PHO 95 Hai Ky Mi Gia Restaurant
-
Willow Lawn Shopping Center & Mall
-
Tropical Smoothie Cafe Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$29.80M
Owner & transaction history
FEDERAL REALTY INVESTMENT TRUST
FEDERAL REALTY INVESTMENT TRUST
Zoning & alternative use
UMU · 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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$47,520,000
Change: -9% · Conversion: Difficult
RETAIL STORES
$46,030,000
Change: -12% · Conversion: Easy
OFFICE BUILDING
$43,400,000
Change: -17% · Conversion: Moderate
Blend value · Realmo final
$29.80M
Range $26.82M – $32.78M · ±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
$93 / 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
$547,696
Tax year 2023
Assessed value
$65,987,500
Assessed 2024
Previous assessed
$65,987,500
+0.0% YoY
Effective rate
0.83%
On assessed value
Assessed land
$6,089,400
Assessed improvement
$59,898,100
Land market value
$6,089,400
Improvement market value
$59,898,100
Total market value
$65,987,500
Applied tax rate
3.0000
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
For Lease
Year built
1958
Heating
NONE
Cooling
AC.PACKAGE
Buildings
2
Stories
1
Total area
319,512 SF
Lot
20.33 ac (885,662 SF)
Zoning code
UMU
APN
773-736-2198
UPID
US87-0792808
Jurisdiction
HENRICO
Zoning & alternative use
UMU · Richmond, VA
Zoning UMU · permitted uses
UMU · 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
WAREHOUSE, STORAGE
Est. value
$47.5M
RETAIL STORES
Est. value
$46.0M
OFFICE BUILDING
Est. value
$43.4M
WAREHOUSE, STORAGE
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
1958
Heating
NONE
Cooling
Yes
Stories
1
Buildings
2
Lot
20.33 ac
Current owner
From public records · entity-resolved
FEDERAL REALTY INVESTMENT TRUST
Entity
Free & Clear · 0 yrs held
Mailing address
909 ROSE AVE STE #200, ROCKVILLE, MD 20852-8724
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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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