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Property profile & analytics
OFF-MARKET
Estimated value
$4,280,000
Office buildings
1610 Frst Ave, Henrico, VA 23229-5009
Entity Owned
10-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US87-3942683
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1977
Total area
42,768 SF
Lot
2.72 ac (118,309 SF)
Zoning code
O-2
APN
759-744-6234
UPID
US87-3942683
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
by Request
Comparable Approach
Comparable
$3.80M
Blend (final)
Blend
$4.28M
Owner & transaction history
Forest Office Park Sub LLC · 10 yrs held
Forest Office Park Sub LLC
since 2016
3 recorded transactions
Zoning & alternative use
O-2 · Henrico, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$7.1M
+16.8%
Neighborhood: shopping center
$7.0M
+15.2%
Apartment house (5+ units)
$6.9M
+12.7%
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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$6,100,000
Current use
MEDICAL BUILDING
$7,125,000
Change: +17% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$7,025,000
Change: +15% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$6,875,000
Change: +13% · Conversion: Easy
COMMERCIAL (GENERAL)
$6,755,000
Change: +11% · Conversion: Easy
RETAIL STORES
$6,160,000
Change: +1% · Conversion: Moderate
Blend value · Realmo final
$4.28M
Range $3.85M – $4.71M · ±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
$100 / 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
$28,461
Tax year 2023
Assessed value
$3,429,000
Assessed 2024
Previous assessed
$3,429,000
+0.0% YoY
Effective rate
0.83%
On assessed value
Assessed land
$502,800
Assessed improvement
$2,926,200
Land market value
$502,800
Improvement market value
$2,926,200
Total market value
$3,429,000
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1977
Heating
NONE
Cooling
AC.PACKAGE
Stories
2
Total area
42,768 SF
Lot
2.72 ac (118,309 SF)
Zoning code
O-2
APN
759-744-6234
UPID
US87-3942683
Jurisdiction
HENRICO
Zoning & alternative use
O-2 · Henrico, VA
Zoning O-2 · permitted uses
O-2 · 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
OFFICE BUILDING Current
Est. value
$6.1M
MEDICAL BUILDING
Est. value
$7.1M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$7.0M
APARTMENT HOUSE (5+ UNITS)
Est. value
$6.9M
COMMERCIAL (GENERAL)
Est. value
$6.8M
RETAIL STORES
Est. value
$6.2M
OFFICE BUILDING Current
MEDICAL BUILDING
NEIGHBORHOOD: SHOPPING CENTER
APARTMENT HOUSE (5+ UNITS)
COMMERCIAL (GENERAL)
RETAIL STORES
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
1977
Heating
NONE
Cooling
Yes
Stories
2
Lot
2.72 ac
Current owner
From public records · entity-resolved
Forest Office Park Sub LLC
Entity
Mailing address
1604 SANTA ROSA RD RM #243, HENRICO, VA 23229-5008
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
Feb 24, 2016
—
Forest Office Park Sub LLC
Nnn Forest Office Park LLC
Quit Claim Deed
related
$18,610,000 · Benefit Street Ptrs Cre Fin Ll
Dec 21, 2005
$3,276,000
Nnn Forest Off Pk LLC
Nnn Forest Off Pk LLC
Grant Deed
related
—
Nov 10, 2005
$20,850,000
Nnn Forest Off Pk LLC Etc
Forest Park Assoc LLC
Grant Deed
—
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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