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Property profile & analytics
OFF-MARKET
Estimated value
$595,000
Investment properties
1731 Main St Richmond, VA 23223-6959
Entity Owned
21-yr Hold
Free & Clear
Property ID
US87-0092201
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1845
Construction
TYPE NOT SPECIFIED
Total area
5,009 SF
Lot
0.04 ac (1,872 SF)
Zoning code
B-5 CENTRAL BUSINESS
APN
E-000-0109-014
UPID
US87-0092201
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
-
El Pope Latin American Cuisine Restaurant
-
The Pizza Place Restaurant
-
Mainstream Bar and Restaurant Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$681k
Blend (final)
Blend
$595k
Owner & transaction history
Hot Spot LLC · 21 yrs held
Hot Spot LLC
since 2005
3 recorded transactions
Zoning & alternative use
B-5 CENTRAL BUSINESS · Richmond, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$910,000
+52.1%
Medical building
$835,000
+39.1%
Neighborhood: shopping center
$825,000
+37.2%
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
COMMERCIAL (GENERAL)
$600,000
Current use
AUTO REPAIR, GARAGE
$910,000
Change: +52% · Conversion: Difficult
MEDICAL BUILDING
$835,000
Change: +39% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$825,000
Change: +37% · Conversion: Difficult
OFFICE BUILDING
$740,000
Change: +23% · Conversion: Easy
RETAIL STORES
$720,000
Change: +20% · Conversion: Easy
INDUSTRIAL (GENERAL)
$515,000
Change: -14% · Conversion: Moderate
Blend value · Realmo final
$595k
Range $536k – $655k · ±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
$119 / 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
$668,000
Assessed 2024
Previous assessed
$668,000
+0.0% YoY
Effective rate
0.00%
On assessed value
Assessed land
$161,000
Assessed improvement
$507,000
Land market value
$161,000
Improvement market value
$507,000
Total market value
$668,000
Applied tax rate
7.0000
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
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
Off-Market
Year built
1845
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
YES
Stories
4
Rooms
10
Bathrooms
5
Total area
5,009 SF
Lot
0.04 ac (1,872 SF)
Zoning code
B-5 CENTRAL BUSINESS
APN
E-000-0109-014
UPID
US87-0092201
Jurisdiction
RICHMOND CITY
Zoning & alternative use
B-5 CENTRAL BUSINESS · Richmond, VA
Zoning B-5 CENTRAL BUSINESS · permitted uses
B-5 CENTRAL BUSINESS · 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
COMMERCIAL (GENERAL) Current
Est. value
$600,000
AUTO REPAIR, GARAGE
Est. value
$910,000
MEDICAL BUILDING
Est. value
$835,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$825,000
OFFICE BUILDING
Est. value
$740,000
RETAIL STORES
Est. value
$720,000
INDUSTRIAL (GENERAL)
Est. value
$515,000
COMMERCIAL (GENERAL) Current
AUTO REPAIR, GARAGE
MEDICAL BUILDING
NEIGHBORHOOD: SHOPPING CENTER
OFFICE BUILDING
RETAIL STORES
INDUSTRIAL (GENERAL)
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
1845
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
Yes
Stories
4
Rooms
10
Bathrooms
5
Lot
0.04 ac
Current owner
From public records · entity-resolved
Hot Spot LLC
Entity
Free & Clear · 21 yrs held
Mailing address
512 N 3RD ST, RICHMOND, VA 23219-1324
Ownership since
2005
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
Jun 27, 2005
—
Hot Spot LLC
Chater,wasfi A
Warranty Deed
related
—
Apr 1, 2005
$258,000
Chater,wasfi A
1731 East Main Assoc LLC
Grant Deed
—
—
—
1731 East Main Assoc LLC
—
Deed Of Trust
related
$155,000 · First Market 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.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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