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Property profile & analytics
OFF-MARKET
Estimated value
$510,000
Apartment buildings
1815 Franklin St Richmond, VA 23223-7488
Entity Owned
7-yr Hold
~
Est. High Equity
Property ID
US87-1358428
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1957
Construction
TYPE NOT SPECIFIED
Total area
5,312 SF
Lot
0.11 ac (5,009 SF)
Zoning code
M-1 LIGHT INDUSTRIAL
APN
E-000-0132-007
UPID
US87-1358428
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
$705k
Blend (final)
Blend
$510k
Owner & transaction history
1806 East Franklin Street LLC · 7 yrs held
1806 East Franklin Street LLC
since 2019
3 recorded transactions
Zoning & alternative use
M-1 LIGHT INDUSTRIAL · Richmond, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$785,000
+48.0%
Retail stores
$765,000
+44.2%
Commercial (general)
$635,000
+19.9%
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
APARTMENT HOUSE (5+ UNITS)
$530,000
Current use
OFFICE BUILDING
$785,000
Change: +48% · Conversion: Moderate
RETAIL STORES
$765,000
Change: +44% · Conversion: Difficult
COMMERCIAL (GENERAL)
$635,000
Change: +20% · Conversion: Moderate
Blend value · Realmo final
$510k
Range $459k – $561k · ±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
$96 / 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
$1,744,000
Assessed 2024
Previous assessed
$1,744,000
+0.0% YoY
Effective rate
0.00%
On assessed value
Assessed land
$330,000
Assessed improvement
$1,414,000
Land market value
$330,000
Improvement market value
$1,414,000
Total market value
$1,744,000
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
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Status
Off-Market
Year built
1957
Construction
TYPE NOT SPECIFIED
Heating
YES
Buildings
2
Stories
2
Units
13
Total area
5,312 SF
Lot
0.11 ac (5,009 SF)
Zoning code
M-1 LIGHT INDUSTRIAL
APN
E-000-0132-007
UPID
US87-1358428
Jurisdiction
RICHMOND CITY
Zoning & alternative use
M-1 LIGHT INDUSTRIAL · Richmond, VA
Zoning 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
Richmond. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$530,000
OFFICE BUILDING
Est. value
$785,000
RETAIL STORES
Est. value
$765,000
COMMERCIAL (GENERAL)
Est. value
$635,000
APARTMENT HOUSE (5+ UNITS) Current
OFFICE BUILDING
RETAIL STORES
COMMERCIAL (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
1957
Construction
TYPE NOT SPECIFIED
Heating
YES
Stories
2
Buildings
2
Units
13
Lot
0.11 ac
Current owner
From public records · entity-resolved
1806 East Franklin Street LLC
Entity
Mailing address
1608 WALNUT ST STE #1400, PHILADELPHIA, PA 19103-5446
Ownership since
2019
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
Jan 15, 2019
$1,771,250
1806 East Franklin Street LLC
Franklin Street Development 3 LLC
Special Warranty Deed
$7,925,000 · Barings Multifamily Capital LLC
Sep 20, 2012
$100,000
Franklin St Dev 3 LLC
Abbott,josephine L
Grant Deed
—
—
—
Franklin Street Dev LLC
—
Loan Modification
related
$1,165,000 · First Cmnty Bk/las Cruces
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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