Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$3,655,000
Office Spaces
1635 Broad St Richmond, VA 23220-2106
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US87-0766528
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
1937
Construction
TYPE NOT SPECIFIED
Total area
10,436 SF
Lot
0.46 ac (20,160 SF)
Zoning code
UB-PO4 PARKING OVERLAY
APN
W-000-0736-014
UPID
US87-0766528
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
-
Summit Human Capital Business Management Consultant Information Services
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.54M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.93M
Blend (final)
Blend
$3.66M
Owner & transaction history
Sockeye Ventures LLC · 4 yrs held
Sockeye Ventures LLC
since 2022
Last sale
$4.1M
2 recorded transactions
Zoning & alternative use
UB-PO4 PARKING OVERLAY · Richmond, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$2.9M
+52.7%
Retail stores
$2.6M
+36.4%
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 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
$3,590,000
ML approach
$3,540,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$2,935,000
Change: +53% · Conversion: Difficult
RETAIL STORES
$2,625,000
Change: +36% · Conversion: Easy
Blend value · Realmo final
$3.66M
Range $3.29M – $4.02M · ±10% · vs last sale $4.10M (May 18 2022)
Last sale anchor
$4.10M
May 18 2022
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
$350 / 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 2020Property tax & assessments
Tax year 2020
Tax billed
$20
Tax year 2020
Assessed value
$3,049,000
Assessed 2024
Previous assessed
$2,660,000
+14.6% YoY
Effective rate
0.00%
On assessed value
Assessed land
$1,493,000
Assessed improvement
$1,556,000
Land market value
$1,493,000
Improvement market value
$1,556,000
Total market value
$3,049,000
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 Spaces
Use group
OFFICE (GENERAL)
Status
Off-Market
Year built
1937
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
YES
Stories
2
Total area
10,436 SF
Lot
0.46 ac (20,160 SF)
Zoning code
UB-PO4 PARKING OVERLAY
APN
W-000-0736-014
UPID
US87-0766528
Jurisdiction
RICHMOND CITY
Zoning & alternative use
UB-PO4 PARKING OVERLAY · Richmond, VA
Zoning UB-PO4 PARKING OVERLAY · permitted uses
UB-PO4 PARKING OVERLAY · 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
RESTAURANT
Est. value
$2.9M
RETAIL STORES
Est. value
$2.6M
RESTAURANT
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
1937
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
Yes
Stories
2
Lot
0.46 ac
Current owner
From public records · entity-resolved
Sockeye Ventures LLC
Entity
Mailing address
PO BOX 811, RICHMOND, VA 23218-0811
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 18, 2022
$4,100,000
Sockeye Ventures LLC
Torq Holdings LLC
Special Warranty Deed
$3,360,000 · Atlantic Union Bank
Oct 27, 2015
$812,000
Torq Holdings LLC
Us Postal Svc
Quit Claim Deed
related
$1,360,000 · Union Bk&tr
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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 1635 Broad St?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
