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Property profile & analytics
OFF-MARKET
Estimated value
$7,250,000
Retail residential properties
2301 Main St Richmond, VA 23223
Entity Owned
14-yr Hold
~
Est. High Equity
Property ID
US87-0750765
Property profile
Verified
Property type
Retail residential properties
Use group
STORES & APARTMENTS
Year built
1917
Construction
TYPE NOT SPECIFIED
Total area
43,437 SF
Lot
0.55 ac (23,934 SF)
Zoning code
M-1 LIGHT INDUSTRIAL
APN
E-000-0302-001
UPID
US87-0750765
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$8.35M
Comparable Approach
Comparable
$7.80M
Blend (final)
Blend
$7.25M
Owner & transaction history
Lorillard Bldg LLC · 14 yrs held
Lorillard Bldg LLC
since 2011
2 recorded transactions
Zoning & alternative use
M-1 LIGHT INDUSTRIAL · Richmond, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$7.9M
+52.1%
Medical building
$7.2M
+39.1%
Neighborhood: shopping center
$7.1M
+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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$9,040,000
6.5%
$8,345,000
7%
$7,750,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$5,205,000
Current use
AUTO REPAIR, GARAGE
$7,910,000
Change: +52% · Conversion: Difficult
MEDICAL BUILDING
$7,235,000
Change: +39% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$7,135,000
Change: +37% · Conversion: Difficult
OFFICE BUILDING
$6,425,000
Change: +23% · Conversion: Easy
RETAIL STORES
$6,260,000
Change: +20% · Conversion: Easy
INDUSTRIAL (GENERAL)
$4,475,000
Change: -14% · Conversion: Moderate
Blend value · Realmo final
$7.25M
Range $6.53M – $7.98M · ±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
$167 / 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
$10,125,000
Assessed 2024
Previous assessed
$10,125,000
+0.0% YoY
Effective rate
0.00%
On assessed value
Assessed land
$1,200,000
Assessed improvement
$8,925,000
Land market value
$1,200,000
Improvement market value
$8,925,000
Total market value
$10,125,000
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
Retail residential properties
Use group
STORES & APARTMENTS
Status
Off-Market
Year built
1917
Construction
TYPE NOT SPECIFIED
Heating
YES
Stories
3
Units
71
Bathrooms
3
Total area
43,437 SF
Lot
0.55 ac (23,934 SF)
Zoning code
M-1 LIGHT INDUSTRIAL
APN
E-000-0302-001
UPID
US87-0750765
Jurisdiction
RICHMOND CITY
Zoning & alternative use
M-1 LIGHT INDUSTRIAL · Richmond, VA
Zoning M-1 LIGHT INDUSTRIAL · permitted uses
M-1 LIGHT INDUSTRIAL · 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
$5.2M
AUTO REPAIR, GARAGE
Est. value
$7.9M
MEDICAL BUILDING
Est. value
$7.2M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$7.1M
OFFICE BUILDING
Est. value
$6.4M
RETAIL STORES
Est. value
$6.3M
INDUSTRIAL (GENERAL)
Est. value
$4.5M
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
1917
Construction
TYPE NOT SPECIFIED
Heating
YES
Stories
3
Units
71
Bathrooms
3
Lot
0.55 ac
Current owner
From public records · entity-resolved
Lorillard Bldg LLC
Entity
Mailing address
2700 E CARY STB, RICHMOND, VA 23223-7830
Ownership since
2011
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 5, 2011
$1,997,000
Lorillard Bldg LLC
Frst City Residl Grp INC
Grant Deed
$2,200,000 · John G III Macfarlane
—
—
Lorillard Bldg LLC
—
Loan Modification
related
$9,387,000 · Union First Market Bk
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.
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