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Property profile & analytics
OFF-MARKET
Estimated value
$830,000
Investment properties
2021 Nn Ave Richmond, VA 23222-4914
Entity Owned
~
Est. High Equity
Property ID
US87-3966255
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1916
Construction
TYPE NOT SPECIFIED
Total area
3,968 SF
Lot
0.17 ac (7,200 SF)
Zoning code
R-6 SINGLE FAMILY ATTACHE
APN
N-000-0406-018
UPID
US87-3966255
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
$760k
Comparable Approach
Comparable
$955k
Blend (final)
Blend
$830k
Owner & transaction history
Milebe Properties LLC
Milebe Properties LLC
since 2025
Last sale
$800,000
7 recorded transactions
Zoning & alternative use
R-6 SINGLE FAMILY ATTACHE · Richmond, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$725,000
+15.4%
Medical building
$660,000
+5.5%
Neighborhood: shopping center
$650,000
+4.1%
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%
$825,000
6.5%
$760,000
7%
$710,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$625,000
Current use
AUTO REPAIR, GARAGE
$725,000
Change: +15% · Conversion: Difficult
MEDICAL BUILDING
$660,000
Change: +6% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$650,000
Change: +4% · Conversion: Difficult
OFFICE BUILDING
$585,000
Change: -6% · Conversion: Easy
RETAIL STORES
$570,000
Change: -9% · Conversion: Easy
Blend value · Realmo final
$830k
Range $747k – $913k · ±10% · vs last sale $800k (Dec 2 2025)
Last sale anchor
$800k
Dec 2 2025
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
$209 / 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
$470,000
Assessed 2024
Previous assessed
$470,000
+0.0% YoY
Effective rate
0.00%
On assessed value
Assessed land
$82,000
Assessed improvement
$388,000
Land market value
$82,000
Improvement market value
$388,000
Total market value
$470,000
Applied tax rate
6.0000
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
1916
Construction
TYPE NOT SPECIFIED
Heating
YES
Stories
2
Rooms
6
Total area
3,968 SF
Lot
0.17 ac (7,200 SF)
Zoning code
R-6 SINGLE FAMILY ATTACHE
APN
N-000-0406-018
UPID
US87-3966255
Jurisdiction
RICHMOND CITY
Zoning & alternative use
R-6 SINGLE FAMILY ATTACHE · Richmond, VA
Zoning R-6 SINGLE FAMILY ATTACHE · permitted uses
R-6 SINGLE FAMILY ATTACHE · 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
$625,000
AUTO REPAIR, GARAGE
Est. value
$725,000
MEDICAL BUILDING
Est. value
$660,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$650,000
OFFICE BUILDING
Est. value
$585,000
RETAIL STORES
Est. value
$570,000
COMMERCIAL (GENERAL) Current
AUTO REPAIR, GARAGE
MEDICAL BUILDING
NEIGHBORHOOD: SHOPPING CENTER
OFFICE BUILDING
RETAIL STORES
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
1916
Construction
TYPE NOT SPECIFIED
Heating
YES
Stories
2
Rooms
6
Lot
0.17 ac
Current owner
From public records · entity-resolved
Milebe Properties LLC
Entity
Mailing address
10347 HOBBY HL RD, RICHMOND, VA 23235-1727
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
Dec 2, 2025
$800,000
Milebe Properties LLC
Whitfield Investments LLC
Deed
$640,000 · South State Bank NA
Aug 18, 2017
—
Whitfield Investments LLC
Clarence S JR
Grant Deed
—
Dec 30, 2010
$129,250
Butler,clarence S JR & Patsy B
Dunston Hall LLC
Grant Deed
—
Aug 13, 2010
—
Rjj Properties LLC
Kepley Broscious & Biggs
Trustees Deed
related
—
Feb 14, 2005
$135,000
Johnson,william R JR
Consolidated Bank & Trust Co
Grant Deed
$175,000 · Donald L Benton
—
—
Johnson,william R JR
—
Deed Of Trust
related
$150,000 · Evb
—
—
Butler,clarence S & Patsy B
—
Deed Of Trust
related
$3,595 · Jd Lewis Construction Mgmt INC
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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