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Property profile & analytics
FOR LEASE
Office Spaces
23 W Broad St Richmond, VA 23220
Entity Owned
8-yr Hold
~
Est. High Equity
Property ID
US87-0841799
For Lease
1 / 2
$2,655,000
23 W Broad St, Richmond, VA 23220
View Listing →
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
1901
Construction
TYPE NOT SPECIFIED
Total area
26,800 SF
Lot
0.16 ac (6,787 SF)
Zoning code
B-4 CENTRAL BUSINESS
APN
W-000-0105-002
UPID
US87-0841799
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
-
Boone Beale PLLC Law Firm
-
Salsa Connection Dance Company, LLC Training Center
-
Better Housing Coalition Charitable Organization Social Service Agency
-
POOLHOUSE Marketing & Advertising Advertising Agency
-
Richmond BizSense Newspaper & Magazine Television Studio
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.50M
Blend (final)
Blend
$2.66M
Owner & transaction history
Snp Properties LLC A Virginia Limit · 8 yrs held
Snp Properties LLC A Virginia Limit
since 2018
1 recorded transaction
Zoning & alternative use
B-4 CENTRAL BUSINESS · 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
NEIGHBORHOOD: SHOPPING CENTER
$4,405,000
Change: -11% · Conversion: Difficult
Blend value · Realmo final
$2.66M
Range $2.39M – $2.92M · ±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
$99 / 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
$3,645,000
Assessed 2024
Previous assessed
$3,430,000
+6.3% YoY
Effective rate
0.00%
On assessed value
Assessed land
$646,000
Assessed improvement
$2,999,000
Land market value
$646,000
Improvement market value
$2,999,000
Total market value
$3,645,000
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
Office Spaces
Use group
OFFICE (GENERAL)
Status
For Lease
Year built
1901
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
YES
Stories
4
Bathrooms
2
Total area
26,800 SF
Lot
0.16 ac (6,787 SF)
Zoning code
B-4 CENTRAL BUSINESS
APN
W-000-0105-002
UPID
US87-0841799
Jurisdiction
RICHMOND CITY
Zoning & alternative use
B-4 CENTRAL BUSINESS · Richmond, VA
Zoning B-4 CENTRAL BUSINESS · permitted uses
B-4 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
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$4.4M
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
1901
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
Yes
Stories
4
Bathrooms
2
Lot
0.16 ac
Current owner
From public records · entity-resolved
Snp Properties LLC A Virginia Limit
Entity
Mailing address
10320 SONNY MDWS LN, MECHANICSVILLE, VA 23116-4905
Ownership since
2018
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
Jun 29, 2018
$3,375,000
Snp Properties LLC A Virginia Limit
Rjr Properties A Virginia General P
Special Warranty Deed
$2,720,000 · Virginia Credit Union 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.
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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