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Property profile & analytics
OFF-MARKET
Estimated value
$1,085,000
Office buildings
1708 Commonwealth Ave Richmond, VA 23230-3700
Individually Owned
~
Est. High Equity
Property ID
US87-1108485
Property profile
Verified
Property type
Office buildings
Use group
PROFESSIONAL BUILDING
Year built
1968
Construction
TYPE NOT SPECIFIED
Total area
8,910 SF
Lot
0.76 ac (33,150 SF)
Zoning code
R-02 RESIDENTIAL OFFICE
APN
W-000-2034-017
UPID
US87-1108485
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
-
Sons Of The American Legion Detachment Of Virginia Advocacy Group Social Service Agency
-
American Legion Auxiliary Virginia Girls State Training Center Tutoring Service
-
American Legion Auxiliary Advocacy Group Social Service Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.46M
Blend (final)
Blend
$1.09M
Owner & transaction history
Knighton,timothy L
Knighton,timothy L
1 recorded transaction
Zoning & alternative use
R-02 RESIDENTIAL OFFICE · Richmond, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.6M
+34.1%
Medical building
$1.5M
+22.6%
Neighborhood: shopping center
$1.5M
+21.0%
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
OFFICE BUILDING
$1,210,000
Current use
AUTO REPAIR, GARAGE
$1,625,000
Change: +34% · Conversion: Difficult
MEDICAL BUILDING
$1,485,000
Change: +23% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$1,465,000
Change: +21% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$1,430,000
Change: +18% · Conversion: Easy
WAREHOUSE, STORAGE
$1,325,000
Change: +9% · Conversion: Difficult
RETAIL STORES
$1,285,000
Change: +6% · Conversion: Moderate
Blend value · Realmo final
$1.09M
Range $977k – $1.19M · ±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
$122 / 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
$18,060
Tax year 2020
Assessed value
$1,505,000
Assessed 2024
Previous assessed
$1,373,000
+9.6% YoY
Effective rate
1.20%
On assessed value
Assessed land
$792,000
Assessed improvement
$713,000
Land market value
$792,000
Improvement market value
$713,000
Total market value
$1,505,000
Applied tax rate
1.0000
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
PROFESSIONAL BUILDING
Status
Off-Market
Year built
1968
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
YES
Stories
1
Bathrooms
1
Total area
8,910 SF
Lot
0.76 ac (33,150 SF)
Zoning code
R-02 RESIDENTIAL OFFICE
APN
W-000-2034-017
UPID
US87-1108485
Jurisdiction
RICHMOND CITY
Zoning & alternative use
R-02 RESIDENTIAL OFFICE · Richmond, VA
Zoning R-02 RESIDENTIAL OFFICE · permitted uses
R-02 RESIDENTIAL OFFICE · 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
OFFICE BUILDING Current
Est. value
$1.2M
AUTO REPAIR, GARAGE
Est. value
$1.6M
MEDICAL BUILDING
Est. value
$1.5M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.5M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.4M
WAREHOUSE, STORAGE
Est. value
$1.3M
RETAIL STORES
Est. value
$1.3M
OFFICE BUILDING Current
AUTO REPAIR, GARAGE
MEDICAL BUILDING
NEIGHBORHOOD: SHOPPING CENTER
APARTMENT HOUSE (5+ UNITS)
WAREHOUSE, STORAGE
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
1968
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
Yes
Stories
1
Bathrooms
1
Lot
0.76 ac
Current owner
From public records · entity-resolved
Knighton,timothy L
Individual
Mailing address
1708 COMMONWEALTH AVE, RICHMOND, VA 23230-3700
Mailing matches property
Yes
Owner-occupied
Yes
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
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
—
—
Knighton,timothy L
—
Deed Of Trust
related
$100,000 · Suntrust Bk/tallahassee
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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