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Property profile & analytics
FOR LEASE
Office Spaces
2025 E Main St Richmond, VA 23223
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US87-0669596
For Lease
1 / 36
$3,368/Mo
2025 E Main St, Richmond, VA 23223
View Listing →
Property summary
AI-generated overview
This two-story, 24,394 square foot office building at 2025 E Main St, Richmond, VA 23223, offers multiple tenancy options in a vibrant location. Built in 1958, the property sits on a 0.59-acre lot and is zoned B-5. Suites range from a minimum of 300 square feet to a maximum contiguous space of 2,000 square feet, providing flexibility for businesses of various sizes. The building features convenient off-street parking. Located in Richmond's historic Shockoe Bottom district, this property provides easy access to major highways and public transportation, as well as numerous restaurants, cafes, and retail shops. The property includes a full-service rate encompassing utilities and janitorial services. The building's APN is E0000192008. This is an excellent opportunity for businesses seeking a well-located, flexible office space in a thriving area.
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
1958
Construction
TYPE NOT SPECIFIED
Total area
24,394 SF
Lot
0.6 ac (26,062 SF)
Zoning code
B-5 CENTRAL BUSINESS
APN
E-000-0192-008
UPID
US87-0669596
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
-
Barley Reginald M Law Firm
-
David P. Baugh Law Firm
-
Charles K. Johnson, PA Physician
-
Granados Orteg Berta L MD Physician
-
Star Commercial Janitorial Services, Inc General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.90M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.03M
Blend (final)
Blend
$2.90M
Owner & transaction history
Max Cre LLC · 2 yrs held
Max Cre LLC
since 2024
Last sale
$2.9M
1 recorded transaction
Zoning & alternative use
B-5 CENTRAL BUSINESS · Richmond, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$4.4M
+52.1%
Medical building
$4.1M
+39.1%
Neighborhood: shopping center
$4.0M
+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
$2,900,000
ML approach
$2,900,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$2,920,000
Current use
AUTO REPAIR, GARAGE
$4,445,000
Change: +52% · Conversion: Difficult
MEDICAL BUILDING
$4,065,000
Change: +39% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$4,010,000
Change: +37% · Conversion: Difficult
OFFICE BUILDING
$3,610,000
Change: +23% · Conversion: Easy
RETAIL STORES
$3,515,000
Change: +20% · Conversion: Easy
INDUSTRIAL (GENERAL)
$2,515,000
Change: -14% · Conversion: Moderate
Blend value · Realmo final
$2.90M
Range $2.61M – $3.19M · ±10% · vs last sale $2.90M (Mar 18 2024)
Last sale anchor
$2.90M
Mar 18 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
$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
$2,974,000
Assessed 2024
Previous assessed
$2,974,000
+0.0% YoY
Effective rate
0.00%
On assessed value
Assessed land
$1,354,000
Assessed improvement
$1,620,000
Land market value
$1,354,000
Improvement market value
$1,620,000
Total market value
$2,974,000
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
Office Spaces
Use group
OFFICE (GENERAL)
Status
For Lease
Year built
1958
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
YES
Stories
2
Total area
24,394 SF
Lot
0.6 ac (26,062 SF)
Zoning code
B-5 CENTRAL BUSINESS
APN
E-000-0192-008
UPID
US87-0669596
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
$2.9M
AUTO REPAIR, GARAGE
Est. value
$4.4M
MEDICAL BUILDING
Est. value
$4.1M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$4.0M
OFFICE BUILDING
Est. value
$3.6M
RETAIL STORES
Est. value
$3.5M
INDUSTRIAL (GENERAL)
Est. value
$2.5M
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
1958
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
Yes
Stories
2
Lot
0.6 ac
Current owner
From public records · entity-resolved
Max Cre LLC
Entity
Mailing address
106 S GARFIELD ST, ARLINGTON, VA 22204-1842
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 18, 2024
$2,900,000
Max Cre LLC
21st And Main Associates LLC
Special Warranty Deed
$1,451,219 · Max Cre LLC
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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