Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2112 Riverside Dr Richmond, VA 23225-3640

    • Apartment buildings
    • 45,718 SF
    • 0.69 lot acres
    OFF-MARKET
    Last Sale
    Jan 03, 2023
    $7,600,000
    Value Estimations
    $6,945,000
    Show details
    Cap Rate Potential
    9.5%
    Apartment buildings
    Location Intelligence
    Property ID
    US87-0263628
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Riverside Apartments / Apartment Complex / Apartment Building

    Property Details for 2112 Riverside Dr

    Year built
    1961
    Construction
    STONE
    Lot size
    0.69 lot acres
    Property size
    45,718 SF
    Zone code
    R-73 MULTI FAMILY
    Property type
    Apartment buildings
    APN
    S-000-0426-013
    APU
    S0000426013

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $5,985,000
      ML approach
      $5,510,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $9,440,000
      6.5%
      $8,715,000
      7%
      $8,090,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $7,502,000
      Market price range: $3.83M - $13.4M

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $7,350,000
      Current use
      AUTO REPAIR, GARAGE
      $8,325,000
      Change: +13% Conversion: Difficult
      MEDICAL BUILDING
      $7,615,000
      Change: +4% Conversion: Moderate
      NEIGHBORHOOD: SHOPPING CENTER
      $7,510,000
      Change: +2% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $7,220,000
      Change: -2% Conversion: Moderate
      OFFICE BUILDING
      $6,760,000
      Change: -8% Conversion: Moderate
      RETAIL STORES
      $6,585,000
      Change: -10% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Richmond
    County
    Richmond City
    State
    Virginia
    Longitude
    -77.4564
    Latitude
    37.5236
    CBSA code
    40060
    CBSA name
    RICHMOND, VA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2020
    $20
    $720,000
    $4,279,000
    $4,999,000
    -
    $720,000
    $4,279,000
    $4,999,000

    Comparable in this City

    • Value Estimation
      $735,000
      28,964 SF

      18 27th St

      APARTMENT HOUSE (5+ UNITS) • 28,964 SF
      18 27th St, Richmond, VA 23225-3900
      View Details
    • Value Estimation
      $635,000
      45,080 SF

      1418 Oakhurst Ln

      APARTMENT HOUSE (100+ UNITS) • 45,080 SF
      1418 Oakhurst Ln, Richmond, VA 23225-2851
      View Details
    • Value Estimation
      $970,000
      166,968 SF

      6400 Jahnke Rd

      APARTMENT HOUSE (100+ UNITS) • 166,968 SF
      6400 Jahnke Rd, Richmond, VA 23225
      View Details
    • Value Estimation
      $520,000
      26,544 SF

      5511 Melmark Rd

      APARTMENT HOUSE (100+ UNITS) • 26,544 SF
      5511 Melmark Rd, Richmond, VA 23225-6031
      View Details
    • Value Estimation
      $585,000
      93,248 SF

      7514 Ander Ct

      APARTMENT HOUSE (100+ UNITS) • 93,248 SF
      7514 Ander Ct, Richmond, VA 23225-2025
      View Details
    • Value Estimation
      $270,000
      19,452 SF

      1021 German School Rd, Unit 8

      APARTMENT HOUSE (100+ UNITS) • 19,452 SF
      1021 German School Rd, Richmond, VA 23225-4272
      View Details

    Similar Nearby for Sale

    • $349,900
      Pending

      Richmond Duplex on Semmes Avenue

      Over/under duplex with development potential near Semmes Avenue.
      3318 Semmes Ave, Richmond, VA 23225
      View Details
    • Contact for pricing
      109.00 Acres

      Starview Vlg

      Land • 109.00 Acres
      0 Starview Vlg, Richmond, VA 23225
      View Details
    • Contact for pricing

      Commercial Land in Opportunity Zone

      Land available for commercial development in Chesterfield County.
      Chippenham Pkwy, North Chesterfield, VA 23225
      View Details
    • $715,000

      Richmond Specialty Property For Sale

      Specialty property available for purchase in Richmond, Virginia.
      6809 South Dr, Richmond, VA 23225
      View Details
    • $1,725,000
      1,900 SF

      Gas Station and Convenience Store

      1,900 SF gas/convenience store on approximately 1.66 acres.
      2000 Semmes Ave, Richmond, VA 23225
      View Details
    • $850,000

      Land Parcel with Existing Building

      One-acre land parcel with an 801 SF building for sale.
      6359 Jahnke Rd, Richmond, VA 23225
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      54,500 SF

      Shops at Stratford Hills: Prime Retail

      Richmond, VA Strip Center - 54,500 SF
      7101 Forest Hill Ave, Richmond, VA 23225
      View Details
    • $15 SF/Yr
      6,816 SF

      Neighborhood Center Retail Space Available

      Retail space for lease in a neighborhood shopping center.
      6315-6349 Jahnke Rd, Richmond, VA 23225
      View Details
    • Contact for pricing

      Retail Spaces on Forest Hill

      Retail spaces available in Richmond near Publix and Target.
      7137 Forest Hill Ave, Richmond, VA 23225
      View Details
    • Contact for pricing
      2,700 SF

      Retail Space in Forest Hill

      Retail spaces available in Richmond near Publix and Target.
      7017 Forest Hill Ave, Richmond, VA 23225
      View Details
    • Contact for pricing
      1,600 SF

      Retail Space on Forest Hill

      Retail spaces available in Richmond near Publix and Target.
      7045 Forest Hill Ave, Richmond, VA 23225
      View Details
    • Contact for pricing
      10,840 SF

      Parkway Shopping Center Retail Space

      Richmond Retail Space: 6,816 sq ft available.
      6315 Jahnke Rd, Richmond, VA 23225
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2112 Riverside Dr
    Richmond, VA 23225-3640
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.