Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$635,000
Distribution centers
1635 Commerce Rd Richmond, VA 23224-7501
Entity Owned
11-yr Hold
Free & Clear
Property ID
US87-3836061
Property profile
Verified
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Year built
1951
Construction
TYPE NOT SPECIFIED
Total area
7,140 SF
Lot
2.84 ac (123,536 SF)
Zoning code
M-1 LIGHT INDUSTRIAL
APN
S-007-1088-001
UPID
US87-3836061
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$779k
Blend (final)
Blend
$635k
Owner & transaction history
1635 Commerce Road LLC · 11 yrs held
1635 Commerce Road LLC
since 2014
5 recorded transactions
Zoning & alternative use
M-1 LIGHT INDUSTRIAL · Richmond, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Source
code of ordinances
Top alternative use upside
Office building
$1.1M
+122.9%
Commercial (general)
$765,000
+61.9%
Industrial (general)
$735,000
+55.3%
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
$475,000
Current use
OFFICE BUILDING
$1,055,000
Change: +123% · Conversion: Difficult
COMMERCIAL (GENERAL)
$765,000
Change: +62% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$735,000
Change: +55% · Conversion: Easy
AUTO REPAIR, GARAGE
$705,000
Change: +49% · Conversion: Easy
Blend value · Realmo final
$635k
Range $572k – $699k · ±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
$89 / 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
$978,000
Assessed 2024
Previous assessed
$464,000
+110.8% YoY
Effective rate
0.00%
On assessed value
Assessed land
$760,000
Assessed improvement
$218,000
Land market value
$760,000
Improvement market value
$218,000
Total market value
$978,000
Applied tax rate
6.0000
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
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Status
Off-Market
Year built
1951
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
YES
Buildings
2
Stories
2
Rooms
13
Bathrooms
4
Total area
7,140 SF
Lot
2.84 ac (123,536 SF)
Zoning code
M-1 LIGHT INDUSTRIAL
APN
S-007-1088-001
UPID
US87-3836061
Jurisdiction
RICHMOND CITY
Zoning & alternative use
M-1 LIGHT INDUSTRIAL · Richmond, VAZoning M-1 LIGHT INDUSTRIAL · permitted uses
M-1 LIGHT INDUSTRIAL · Richmond, VA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Source
code of ordinances
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$475,000
OFFICE BUILDING
Est. value
$1.1M
COMMERCIAL (GENERAL)
Est. value
$765,000
INDUSTRIAL (GENERAL)
Est. value
$735,000
AUTO REPAIR, GARAGE
Est. value
$705,000
WAREHOUSE, STORAGE Current
OFFICE BUILDING
COMMERCIAL (GENERAL)
INDUSTRIAL (GENERAL)
AUTO REPAIR, GARAGE
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
1951
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
Yes
Stories
2
Buildings
2
Rooms
13
Bathrooms
4
Lot
2.84 ac
Current owner
From public records · entity-resolved
1635 Commerce Road LLC
Entity
Free & Clear · 11 yrs held
Mailing address
8384 MEADOWBRIDGE RD, MECHANICSVILLE, VA 23116-1824
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2014
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 18, 2020
—
1635 Cmrc Road LLC
—
Deed
related
$750,000 · Farmers Bk
Nov 6, 2014
$340,100
1635 Commerce Road LLC
Force-jrg LLC|zions First National Bk
Trustees Deed
related
—
Nov 14, 2006
$645,000
Force Jrg LLC
Whitehead Enterprises LLC
Grant Deed
$322,500 · Zions First Nat'l Bk
—
—
Force Jrg LLC
—
Deed Of Trust
related
$268,000 · Business Fin Grp
—
—
1635 Cmrc Road LLC
—
Deed Of Trust
related
$750,000 · Farmers Bk
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 Commerce Rd?
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.
