Entity Owned Property summary
AI-generated overview
The property is a three-story brick historic warehouse building located in Richmond’s Shockoe Bottom neighborhood along historic Tobacco Row. It features original post-and-beam accents, exposed high ceilings, and exposed brick interior walls, and is configured for use as creative office space, with space measured up to approximately 10,000 square feet. The building is positioned along the Canal and is within walking distance of the James River, restaurants, and other area amenities, with nearby access to major employers and civic destinations including I-95, VCU Health System, the State Capitol, and government buildings. Parking is available via a free surface lot immediately adjacent to the building, and the exterior provides for building signage.
Property profile
Verified
Property type
Other office properties
Use group
OFFICE (GENERAL)
Year built
1914
Construction
TYPE NOT SPECIFIED
Total area
15,744 SF
Lot
0.12 ac (5,366 SF)
Zoning code
M-2 HEAVY INDUSTRIAL
APN
E-000-0134-001
UPID
US87-0016122
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Pet Store & Service
-
Advertising Agency Marketing & Advertising
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.33M
CAP Approach
CAP
$3.03M
Comparable Approach
Comparable
$1.71M
Blend (final)
Blend
$2.26M
Owner & transaction history
since 2022
Last sale
$2.6M
4 recorded transactions
Zoning & alternative use
M-2 HEAVY INDUSTRIAL · Richmond, VA
Top alternative use upside
Auto repair, garage
$2.9M
+52.1%
Medical building
$2.6M
+39.1%
Neighborhood: shopping center
$2.6M
+37.2%
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
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Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
All 5 comparables with addresses
7 alternative uses screened
Sensitivity value band
Source audit · 6 inputs
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Summary
1
Valuation conclusion
Included free
Estimated market value
$2.26M
Value range
$2.03M – $2.49M
±10% around blend
Estimated value / SF
$144 / SF
Confidence
High
5 county-verified comps
Property data
100
Market benchmarks
100
Comparable evidence
50
$2.03M
blend $2.26M
$2.49M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
15,744 SF
Lot area
0.12 ac
Year built
1914
Stories
3
APN
E-000-0134-001
Zoning
M-2 HEAVY INDUSTRIAL
Assessed value
$1,682,000
Annual tax
$20
3
Income approach: direct capitalization
Partial preview
Income approach indication
$3.03M
Direct capitalization · @ 6.5% CAP return
@ 6% CAP return
$3.28M
@ 6.5% CAP return
$3.03M
@ 7% CAP return
$2.81M
4
Sales comparison
Partial preview
Sales approach indication
$2.72M
Weighted, 5 comps · high confidence
Evidence
5 found · 5 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
1.0 mi away · 15,717 SF
1.2 mi away · 18,977 SF
1.4 mi away · 14,685 SF
1.5 mi away · 14,100 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$2.26M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
ZIP 30 sales
$120
+20%
Submarket 392 sales
$158
-9%
County 240 sales
$144
+0%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $144/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Auto Repair, Garage
Gross theoretical uplift
+52%
vs current-use indication
Medical Building
Neighborhood: Shopping Center
Office Building
Retail Stores
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
8
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Modeled
Market rent
Not available
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: income and sales evidence cover the value conclusion.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 5 sales
Market rates by use type
PDF export
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Overview
Implied cap rate
8.70%
Implied, in-place cap rate for this other office properties
Estimated NOI ÷ last recorded sale. Refine with your own numbers in the full report.
Lower yield / higher price
Higher yield / lower price
5.0%
This property · 8.70%
9.0%
NOI (est.)
$181k *
Last sale · Apr 2022
$2.58M
* derived from a real price signal at a 7% cap
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$2.08M
Move the market yield to see immediate price impact.
Value / SF
$132
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
8.20%8.70%9.20%
$163k
$1.98M
$1.87M
$1.77M
$181k
$2.20M
$2.08M
$1.96M
$199k
$2.42M
$2.28M
$2.16M
NOI sensitivity ±10% across the selected-rate band (±0.5 pp) — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
5 found
High confidence · county-verified
Closest comparable
$2.30M
0.5 mi · Nov 2025 · $188/SF
Property tax & assessments
Tax year 2020Property tax & assessments
Tax year 2020
Tax billed
$20
Tax year 2020
Assessed value
$1,682,000
Assessed 2024
Previous assessed
$1,682,000
+0.0% YoY
Effective rate
0.00%
On assessed value
Assessed land
$306,000
Assessed improvement
$1,376,000
Land market value
$306,000
Improvement market value
$1,376,000
Total market value
$1,682,000
Applied tax rate
7.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Other office properties
Use group
OFFICE (GENERAL)
Status
Off-Market
Year built
1914
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
YES
Stories
3
Bathrooms
3
Total area
15,744 SF
Lot
0.12 ac (5,366 SF)
Zoning code
M-2 HEAVY INDUSTRIAL
APN
E-000-0134-001
UPID
US87-0016122
Jurisdiction
RICHMOND CITY
Zoning & alternative use
M-2 HEAVY INDUSTRIAL · Richmond, VAZoning M-2 HEAVY INDUSTRIAL · permitted uses
M-2 HEAVY INDUSTRIAL · Richmond, VA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1914
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
Yes
Stories
3
Bathrooms
3
Lot
0.12 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
M-2 HEAVY INDUSTRIAL
Jurisdiction
Richmond, VA
Recorded code
M-2 HEAVY INDUSTRIAL
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Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
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Owner of record and activity signals are derived from public records and modeled classifications.
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