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Property profile & analytics
OFF-MARKET
Estimated value
$24,880,000
Apartment buildings
2600 Cary St Richmond, VA 23223-7827
Entity Owned
1-yr Hold
Absentee Owner
Free & Clear
Property ID
US87-0068395
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (100+ UNITS)
Year built
1927
Construction
TYPE NOT SPECIFIED
Total area
206,097 SF
Lot
1.84 ac (80,325 SF)
Zoning code
B-5 CENTRAL BUSINESS
APN
E-000-0442-023
UPID
US87-0068395
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
-
Filtroil LLC Factory Industrial Manufacturer
-
Corp Housing Priority Housing Authority
-
Film Source (Solar Control, Decorative, Privacy, Safety & Security Film) Interior Design Auto Repair Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$24.88M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$18.81M
Blend (final)
Blend
$24.88M
Owner & transaction history
West Shore Tobacco Row LLC · 1 yrs held
West Shore Tobacco Row LLC
since 2024
Last sale
$24.9M
4 recorded transactions
Zoning & alternative use
B-5 CENTRAL BUSINESS · Richmond, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$37.5M
+82.3%
Medical building
$34.3M
+66.7%
Neighborhood: shopping center
$33.9M
+64.4%
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
$24,880,000
ML approach
$24,880,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$20,595,000
Current use
AUTO REPAIR, GARAGE
$37,540,000
Change: +82% · Conversion: Difficult
MEDICAL BUILDING
$34,330,000
Change: +67% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$33,860,000
Change: +64% · Conversion: Difficult
OFFICE BUILDING
$30,480,000
Change: +48% · Conversion: Moderate
RETAIL STORES
$29,690,000
Change: +44% · Conversion: Difficult
COMMERCIAL (GENERAL)
$24,685,000
Change: +20% · Conversion: Moderate
Blend value · Realmo final
$24.88M
Range $22.39M – $27.37M · ±10% · vs last sale $24.88M (Dec 23 2024)
Last sale anchor
$24.88M
Dec 23 2024
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
$121 / 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
$25,002,000
Assessed 2024
Previous assessed
$21,029,000
+18.9% YoY
Effective rate
0.00%
On assessed value
Assessed land
$3,275,000
Assessed improvement
$21,727,000
Land market value
$3,275,000
Improvement market value
$21,727,000
Total market value
$25,002,000
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
Apartment buildings
Use group
APARTMENT HOUSE (100+ UNITS)
Status
Off-Market
Year built
1927
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
YES
Stories
6
Units
131
Bathrooms
8
Total area
206,097 SF
Lot
1.84 ac (80,325 SF)
Zoning code
B-5 CENTRAL BUSINESS
APN
E-000-0442-023
UPID
US87-0068395
Jurisdiction
RICHMOND CITY
Zoning & alternative use
B-5 CENTRAL BUSINESS · Richmond, VA
Zoning B-5 CENTRAL BUSINESS · permitted uses
B-5 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
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$20.6M
AUTO REPAIR, GARAGE
Est. value
$37.5M
MEDICAL BUILDING
Est. value
$34.3M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$33.9M
OFFICE BUILDING
Est. value
$30.5M
RETAIL STORES
Est. value
$29.7M
COMMERCIAL (GENERAL)
Est. value
$24.7M
APARTMENT HOUSE (5+ UNITS) Current
AUTO REPAIR, GARAGE
MEDICAL BUILDING
NEIGHBORHOOD: SHOPPING CENTER
OFFICE BUILDING
RETAIL STORES
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
1927
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
Yes
Stories
6
Units
131
Bathrooms
8
Lot
1.84 ac
Current owner
From public records · entity-resolved
West Shore Tobacco Row LLC
Entity
Free & Clear · 1 yrs held
Mailing address
127 PUBLIC SQ #3150, CLEVELAND, OH 44114-1217
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
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
Nov 17, 2025
—
West Shore Tobacco Row LLC
—
Deed
related
$550,000,000 · Citi Real Estate Funding INC
Dec 23, 2024
$24,879,674
West Shore Tobacco Row LLC
Fc Lucky Strike Lessor LLC
Warranty Deed
—
Jan 30, 2009
—
Fc Lucky Strike Lessor LLC
Virginia Power Electric & Powe
Quit Claim Deed
related
—
May 10, 2005
$850,000
Sewan Enterprises LLC
Tobacco Row Land
Grant 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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