Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$850,000
Investment properties
2225 Hanover Ave Richmond, VA 23220-3401
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US87-0259948
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1911
Construction
TYPE NOT SPECIFIED
Total area
4,279 SF
Lot
0.09 ac (3,755 SF)
Zoning code
R-6 SINGLE FAMILY ATTACHE
APN
W-000-1000-001
UPID
US87-0259948
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
-
Emily Warden Designs (Bike/Boat/Book/etc) Store
-
CHIP of Virginia Hearing Aid Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$880k
CAP Approach
CAP
$820k
Comparable Approach
Comparable
$793k
Blend (final)
Blend
$850k
Owner & transaction history
1847 Housing Group LLC · 3 yrs held
1847 Housing Group LLC
since 2023
Last sale
$1.2M
4 recorded transactions
Zoning & alternative use
R-6 SINGLE FAMILY ATTACHE · Richmond, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$1.1M
+36.4%
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
$905,000
ML approach
$880,000
CAP Approach
CAP Return
Estimation
6%
$890,000
6.5%
$820,000
7%
$765,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$790,000
Current use
RETAIL STORES
$1,075,000
Change: +36% · Conversion: Easy
AUTO REPAIR, GARAGE
$780,000
Change: -1% · Conversion: Difficult
MEDICAL BUILDING
$715,000
Change: -10% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$705,000
Change: -11% · Conversion: Difficult
Blend value · Realmo final
$850k
Range $765k – $935k · ±10% · vs last sale $1.15M (Jun 27 2023)
Last sale anchor
$1.15M
Jun 27 2023
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
$199 / 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
$825,000
Assessed 2024
Previous assessed
$674,000
+22.4% YoY
Effective rate
0.00%
On assessed value
Assessed land
$363,000
Assessed improvement
$462,000
Land market value
$363,000
Improvement market value
$462,000
Total market value
$825,000
Applied tax rate
2.0000
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
1911
Construction
TYPE NOT SPECIFIED
Heating
YES
Stories
2
Rooms
10
Bathrooms
3
Total area
4,279 SF
Lot
0.09 ac (3,755 SF)
Zoning code
R-6 SINGLE FAMILY ATTACHE
APN
W-000-1000-001
UPID
US87-0259948
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
$790,000
RETAIL STORES
Est. value
$1.1M
AUTO REPAIR, GARAGE
Est. value
$780,000
MEDICAL BUILDING
Est. value
$715,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$705,000
COMMERCIAL (GENERAL) Current
RETAIL STORES
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
1911
Construction
TYPE NOT SPECIFIED
Heating
YES
Stories
2
Rooms
10
Bathrooms
3
Lot
0.09 ac
Current owner
From public records · entity-resolved
1847 Housing Group LLC
Entity
Mailing address
2755 ROYAL CRST DR, MIDLOTHIAN, VA 23113-3982
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 27, 2023
$1,150,000
1847 Housing Group LLC
Tappahannock M And M Retail LLC
Warranty Deed
$920,000 · Virginia National Bank
Apr 10, 2023
—
Tappahannock M And M Retail LLC
—
Deed
related
$75,000 · Richmond Mortgage INC
—
—
Four Chicks & A Bldg LLC
—
Deed Of Trust
related
$300,000 · Evb
—
—
Four Chicks & A Bld LLC
—
Deed Of Trust
related
$50,000 · Branch Bk&tr/va
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?”
You own 2225 Hanover Ave?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
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.
