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Property profile & analytics
OFF-MARKET
Estimated value
$1,135,000
Distribution centers
1710 Altamont Ave Richmond, VA 23230-4504
Entity Owned
5-yr Hold
Free & Clear
Property ID
US87-0982608
Property profile
Verified
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Year built
1924
Construction
TYPE NOT SPECIFIED
Total area
12,042 SF
Lot
0.29 ac (12,490 SF)
Zoning code
M-1 LIGHT INDUSTRIAL
APN
N-000-1599-006
UPID
US87-0982608
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
-
The Bakery Recording Studios Recording Studio
-
English Oak Recording Recording Studio
-
Pyramid Studios Inc IT Consulting Firm Tech Support Center
-
North of Sound Audiobooks Publishing House
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$695k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.14M
Owner & transaction history
Bakery Studios LLC · 5 yrs held
Bakery Studios LLC
since 2020
Last sale
$1.2M
3 recorded transactions
Zoning & alternative use
M-1 LIGHT INDUSTRIAL · Richmond, VA
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
$735,000
ML approach
$695,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$1,790,000
Current use
RETAIL STORES
$1,735,000
Change: -3% · Conversion: Moderate
OFFICE BUILDING
$1,635,000
Change: -9% · Conversion: Difficult
Blend value · Realmo final
$1.14M
Range $1.02M – $1.25M · ±10% · vs last sale $1.18M (Oct 9 2020)
Last sale anchor
$1.18M
Oct 9 2020
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
$94 / 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
$1,677,000
Assessed 2024
Previous assessed
$1,351,000
+24.1% YoY
Effective rate
0.00%
On assessed value
Assessed land
$797,000
Assessed improvement
$880,000
Land market value
$797,000
Improvement market value
$880,000
Total market value
$1,677,000
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
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Status
Off-Market
Year built
1924
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
YES
Stories
1
Rooms
16
Bathrooms
2
Total area
12,042 SF
Lot
0.29 ac (12,490 SF)
Zoning code
M-1 LIGHT INDUSTRIAL
APN
N-000-1599-006
UPID
US87-0982608
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
$1.8M
RETAIL STORES
Est. value
$1.7M
OFFICE BUILDING
Est. value
$1.6M
WAREHOUSE, STORAGE Current
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
1924
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
Yes
Stories
1
Rooms
16
Bathrooms
2
Lot
0.29 ac
Current owner
From public records · entity-resolved
Bakery Studios LLC
Entity
Free & Clear · 5 yrs held
Mailing address
4910 CARY ST RD, RICHMOND, VA 23226-1620
Ownership since
2020
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
Oct 9, 2020
$1,175,000
Bakery Studios LLC
Sound Of Music Props LLC
Warranty Deed
—
Mar 1, 2016
$585,000
Sound Of Music Props LLC
Hornstein,bruce W & Dixie J M
Grant Deed
$468,000 · Branch Bk&tr
—
—
Bruce W Hornstein
—
Deed Of Trust
related
$450,000 · Branch 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.
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