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Property profile & analytics
OFF-MARKET
Estimated value
$19,000,000
High-rise multifamily apartments
2017 Brk Rd Richmond, VA 23220-1807
Entity Owned
Free & Clear
Property ID
US87-0291323
Property profile
Verified
Property type
High-rise multifamily apartments
Use group
HIGH-RISE APARTMENTS
Year built
2014
Construction
TYPE NOT SPECIFIED
Total area
106,868 SF
Lot
2.19 ac (95,571 SF)
Zoning code
M-1 LIGHT INDUSTRIAL
APN
N-000-0627-010
UPID
US87-0291323
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
$20.37M
Comparable Approach
Comparable
$16.64M
Blend (final)
Blend
$19.00M
Owner & transaction history
Conserve Sphere Holdings LLC
Conserve Sphere Holdings LLC
since 2025
Last sale
$19.5M
7 recorded transactions
Zoning & alternative use
M-1 LIGHT INDUSTRIAL · Richmond, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$30.1M
+62.9%
Retail stores
$26.9M
+45.5%
Commercial (general)
$19.7M
+6.7%
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%
$22,065,000
6.5%
$20,370,000
7%
$18,915,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$18,465,000
Current use
RESTAURANT
$30,075,000
Change: +63% · Conversion: Difficult
RETAIL STORES
$26,870,000
Change: +46% · Conversion: Difficult
COMMERCIAL (GENERAL)
$19,700,000
Change: +7% · Conversion: Moderate
AUTO REPAIR, GARAGE
$19,465,000
Change: +5% · Conversion: Difficult
MEDICAL BUILDING
$17,800,000
Change: -4% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$17,555,000
Change: -5% · Conversion: Difficult
Blend value · Realmo final
$19.00M
Range $17.10M – $20.90M · ±10% · vs last sale $19.50M (Aug 20 2024)
Last sale anchor
$19.50M
Aug 20 2024
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
$178 / 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
$16,164,000
Assessed 2024
Previous assessed
$17,308,000
-6.6% YoY
Effective rate
0.00%
On assessed value
Assessed land
$2,060,000
Assessed improvement
$14,104,000
Land market value
$2,060,000
Improvement market value
$14,104,000
Total market value
$16,164,000
Applied tax rate
3.0000
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
High-rise multifamily apartments
Use group
HIGH-RISE APARTMENTS
Status
Off-Market
Year built
2014
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
YES
Stories
4
Units
103
Rooms
103
Total area
106,868 SF
Lot
2.19 ac (95,571 SF)
Zoning code
M-1 LIGHT INDUSTRIAL
APN
N-000-0627-010
UPID
US87-0291323
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
$18.5M
RESTAURANT
Est. value
$30.1M
RETAIL STORES
Est. value
$26.9M
COMMERCIAL (GENERAL)
Est. value
$19.7M
AUTO REPAIR, GARAGE
Est. value
$19.5M
MEDICAL BUILDING
Est. value
$17.8M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$17.6M
APARTMENT HOUSE (5+ UNITS) Current
RESTAURANT
RETAIL STORES
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
MEDICAL BUILDING
NEIGHBORHOOD: SHOPPING CENTER
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
2014
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
Yes
Stories
4
Units
103
Rooms
103
Lot
2.19 ac
Current owner
From public records · entity-resolved
Conserve Sphere Holdings LLC
Entity
Free & Clear · 0 yrs held
Mailing address
7 WORLD TRADE CTR, NEW YORK, NY 10007-2140
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 29, 2025
$45,020,190
Conserve Sphere Holdings LLC
Mvp Sphere LLC
Special Warranty Deed
—
Nov 20, 2024
$19,500,000
Conserve Brook LLC
2017 Brook Road Fee LLC
Special Warranty Deed
—
Mar 1, 2017
$11,424,384
2017 Brook Road Fee LLC
Lombardy Vu Rlty LLC
Warranty Deed
—
Aug 3, 2016
—
W Brook Road LLC
Lombardy Vu Rlty LLC
Quit Claim Deed
related
—
Oct 2, 2013
—
Lombardy Vu Rlty LLC
—
Trustees Deed
related
$10,700,000 · Housing Auth
Sep 25, 2013
$1,060,000
Lombardy Vu Realty LLC
W Brook Road LLC
Warranty Deed
$107,000,000 · Virginia Housing Developm
Aug 8, 2011
$635,000
W Brook Rd LLC
United States Postal Svc
Grant Deed
$536,000 · Virginia Cmnty 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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