Back to Search
Property profile & analytics
FOR SALE
Retail residential properties
2028 W Cary St Richmond, VA 23220
Entity Owned
11-yr Hold
~
Est. High Equity
Property ID
US87-0762179
For Sale
1 / 42
$2,599,000
2028 W Cary St, Richmond, VA 23220
View Listing →
Property profile
Verified
Property type
Retail residential properties
Use group
STORES & APARTMENTS
Year built
2015
Construction
TYPE NOT SPECIFIED
Total area
9,100 SF
Lot
0.16 ac (7,075 SF)
Zoning code
R-63 MULTI FAMILY URBAN R
APN
W-000-0898-032
UPID
US87-0762179
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
-
Lucky Whale Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$856k
Blend (final)
Blend
$1.14M
Owner & transaction history
Shriner Assoc LLC · 11 yrs held
Shriner Assoc LLC
since 2015
6 recorded transactions
Zoning & alternative use
R-63 MULTI FAMILY URBAN R · Richmond, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
COMMERCIAL (GENERAL)
$1,675,000
Current use
AUTO REPAIR, GARAGE
$1,655,000
Change: -1% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$1,570,000
Change: -6% · Conversion: Moderate
MEDICAL BUILDING
$1,515,000
Change: -10% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$1,495,000
Change: -11% · Conversion: Difficult
Blend value · Realmo final
$1.14M
Range $1.03M – $1.25M · ±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
$125 / 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
$1,842,000
Assessed 2024
Previous assessed
$1,827,000
+0.8% YoY
Effective rate
0.00%
On assessed value
Assessed land
$248,000
Assessed improvement
$1,594,000
Land market value
$248,000
Improvement market value
$1,594,000
Total market value
$1,842,000
Applied tax rate
5.0000
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
Retail residential properties
Use group
STORES & APARTMENTS
Status
For Sale
Year built
2015
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
YES
Stories
3
Units
6
Rooms
6
Bathrooms
1
Total area
9,100 SF
Lot
0.16 ac (7,075 SF)
Zoning code
R-63 MULTI FAMILY URBAN R
APN
W-000-0898-032
UPID
US87-0762179
Jurisdiction
RICHMOND CITY
Zoning & alternative use
R-63 MULTI FAMILY URBAN R · Richmond, VA
Zoning R-63 MULTI FAMILY URBAN R · permitted uses
R-63 MULTI FAMILY URBAN R · 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
$1.7M
AUTO REPAIR, GARAGE
Est. value
$1.7M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.6M
MEDICAL BUILDING
Est. value
$1.5M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.5M
COMMERCIAL (GENERAL) Current
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
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
2015
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
Yes
Stories
3
Units
6
Rooms
6
Bathrooms
1
Lot
0.16 ac
Current owner
From public records · entity-resolved
Shriner Assoc LLC
Entity
Mailing address
PO BOX 8764, RICHMOND, VA 23226-0764
Ownership since
2015
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 4, 2020
—
Shriner Assocs LLC
—
Deed
related
$15,000 · Sonabank NA
Apr 7, 2017
—
Shriner Assoc LLC
—
Deed
related
$1,725,000 · Evb
Jun 1, 2015
$385,000
Shriner Assoc LLC
Ollett,joanne R
Grant Deed
$385,000 · Evb
—
—
Shriner Assoc LLC
—
Loan Modification
related
$1,564,464 · Evb
—
—
Shriner Assoc LLC
—
Loan Modification
related
$1,725,000 · Evb
—
—
Shriner Assocs LLC
—
Deed Of Trust
related
$15,000 · Sonabank NA
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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
