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Property profile & analytics
OFF-MARKET
Estimated value
$2,595,000
Super regional malls
2599 New Market Rd Henrico, VA 23231-7061
Entity Owned
6-yr Hold
Free & Clear
Property ID
US87-3838451
Property profile
Verified
Property type
Super regional malls
Use group
REGIONAL SHOPPING CENTER, MALL
Year built
1998
Total area
45,664 SF
Lot
7.34 ac (319,905 SF)
Zoning code
MIXE
APN
815-686-8284
UPID
US87-3838451
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
$2.42M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.60M
Owner & transaction history
New Investor Assocs Varina LLC · 6 yrs held
New Investor Assocs Varina LLC
since 2020
Last sale
$2.7M
4 recorded transactions
Zoning & alternative use
MIXE · Henrico, 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 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
$2,570,000
ML approach
$2,420,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$2.60M
Range $2.34M – $2.85M · ±10% · vs last sale $2.70M (Jun 10 2020)
Last sale anchor
$2.70M
Jun 10 2020
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
$57 / 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
Tax billed
$46,631
Tax year 2023
Assessed value
$5,486,000
Assessed 2024
Previous assessed
$5,486,000
+0.0% YoY
Effective rate
0.85%
On assessed value
Assessed land
$280,300
Assessed improvement
$5,205,700
Land market value
$280,300
Improvement market value
$5,205,700
Total market value
$5,486,000
Applied tax rate
5.0000
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
Super regional malls
Use group
REGIONAL SHOPPING CENTER, MALL
Status
Off-Market
Year built
1998
Heating
NONE
Cooling
AC.PACKAGE
Stories
1
Total area
45,664 SF
Lot
7.34 ac (319,905 SF)
Zoning code
MIXE
APN
815-686-8284
UPID
US87-3838451
Jurisdiction
HENRICO
Zoning & alternative use
MIXE · Henrico, VAZoning MIXE · permitted uses
MIXE · Henrico, VA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Year built
1998
Heating
NONE
Cooling
Yes
Stories
1
Lot
7.34 ac
Current owner
From public records · entity-resolved
New Investor Assocs Varina LLC
Entity
Free & Clear · 6 yrs held
Mailing address
406 W HILLSBORO BLVD, DEERFIELD BEACH, FL 33441-1604
Ownership since
2020
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 10, 2020
$2,700,000
New Investor Assocs Varina LLC
Royal Palm Hotel
Grant Deed
—
Oct 24, 2017
$5,200,000
Royal Palm Hotel
Rv Crimson LLC
Grant Deed
$2,700,000 · Varina Lending Group LLC
Sep 19, 2005
$4,270,000
Rv Crimson LLC
New Market Associates LLC
Grant Deed
—
—
—
Rv Crimson LLC
—
Deed Of Trust
related
$2,700,000 · Basis Real Estate Capital II L
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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