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Property profile & analytics
OFF-MARKET
Estimated value
$8,575,000
Hospitals
2400 Parham Rd Henrico, VA 23228-3119
Entity Owned
5-yr Hold
Free & Clear
Property ID
US87-0992411
Property profile
Verified
Property type
Hospitals
Use group
HOSPITAL - PRIVATE
Year built
1976
Total area
58,849 SF
Lot
2.58 ac (112,428 SF)
Zoning code
R-5
APN
774-758-4102
UPID
US87-0992411
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
-
Isalis (Bike/Boat/Book/etc) Store
-
Party City Party Supply Store (Bike/Boat/Book/etc) Store
-
Skunk Funk Big Box & Wholesale Store
-
Carl's Trading Co Hat Shop
-
Bushka's Kitchen LLC (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$8.52M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$6.26M
Blend (final)
Blend
$8.58M
Owner & transaction history
2400 East Parham Road LLC · 5 yrs held
2400 East Parham Road LLC
since 2021
Last sale
$8.4M
1 recorded transaction
Zoning & alternative use
R-5 · Henrico, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$10.7M
+9.3%
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 Henrico submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Henrico 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
$8,890,000
ML approach
$8,520,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MEDICAL BUILDING
$9,805,000
Current use
AUTO REPAIR, GARAGE
$10,720,000
Change: +9% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$9,670,000
Change: -1% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$9,460,000
Change: -3% · Conversion: Moderate
RETAIL STORES
$8,480,000
Change: -14% · Conversion: Difficult
OFFICE BUILDING
$8,275,000
Change: -16% · Conversion: Easy
COMMERCIAL (GENERAL)
$8,275,000
Change: -16% · Conversion: Easy
Blend value · Realmo final
$8.58M
Range $7.72M – $9.43M · ±10% · vs last sale $8.44M (Jun 2 2021)
Last sale anchor
$8.44M
Jun 2 2021
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
$146 / 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 2023Property tax & assessments
Tax year 2023
Assessed value
$7,647,900
Assessed 2024
Previous assessed
$7,647,900
+0.0% YoY
Assessed land
$505,900
Assessed improvement
$7,142,000
Land market value
$505,900
Improvement market value
$7,142,000
Total market value
$7,647,900
Applied tax rate
4.0000
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
Hospitals
Use group
HOSPITAL - PRIVATE
Status
Off-Market
Year built
1976
Heating
HEAT PUMP
Stories
1
Rooms
180
Bathrooms
180
Total area
58,849 SF
Lot
2.58 ac (112,428 SF)
Zoning code
R-5
APN
774-758-4102
UPID
US87-0992411
Jurisdiction
HENRICO
Zoning & alternative use
R-5 · Henrico, VA
Zoning R-5 · permitted uses
R-5 · Henrico, VA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Henrico. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$9.8M
AUTO REPAIR, GARAGE
Est. value
$10.7M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$9.7M
APARTMENT HOUSE (5+ UNITS)
Est. value
$9.5M
RETAIL STORES
Est. value
$8.5M
OFFICE BUILDING
Est. value
$8.3M
COMMERCIAL (GENERAL)
Est. value
$8.3M
MEDICAL BUILDING Current
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
APARTMENT HOUSE (5+ UNITS)
RETAIL STORES
OFFICE BUILDING
COMMERCIAL (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
1976
Heating
HEAT PUMP
Stories
1
Rooms
180
Bathrooms
180
Lot
2.58 ac
Current owner
From public records · entity-resolved
2400 East Parham Road LLC
Entity
Free & Clear · 5 yrs held
Mailing address
2917 PENN FRST BLVD #200, ROANOKE, VA 24018-4304
Ownership since
2021
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 2, 2021
$8,442,000
2400 East Parham Road LLC
Medical Facilities Of America V LP
Special Warranty Deed
—
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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