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    Property profile & analytics

    2703 Commerce Rd Richmond, VA 23234-1807

    • Distribution centers
    • 154,035 SF
    • 75.49 lot acres
    OFF-MARKET
    Value Estimation
    Last Sale
    Apr 16, 2025
    Location Intelligence
    Property ID
    US87-1192143
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Lowes BDC 3469 / Warehouse

    Property Details for 2703 Commerce Rd

    Year built
    2022
    Lot size
    75.49 lot acres
    Property size
    154,035 SF
    Zone code
    MULTIPLE ZONING
    Property type
    Distribution centers
    APN
    S-008-0601-051
    APU
    S0080601051

    Value Estimation

    Powered by Realmo proprietary methodology Last update: July 3, 2025

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Richmond
    County
    Richmond City
    State
    Virginia
    Longitude
    -77.4324
    Latitude
    37.486
    CBSA code
    40060
    CBSA name
    RICHMOND, VA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2020
    $20
    $7,839,000
    $120,458,000
    $128,297,000
    -
    $7,839,000
    $120,458,000
    $128,297,000

    Comparable in this City

    • Value Estimation by Request
      57,416 SF

      1701 Ruffin Rd

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      10,836 SF

      3501 Belt Blvd

      DISTRIBUTION WAREHOUSE • 10,836 SF
      3501 Belt Blvd, Richmond, VA 23234-1520
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    • Value Estimation by Request
      5,113 SF

      3820 Richmond Hwy

      Distribution properties • 5,113 SF
      3820 Richmond Hwy, Richmond, VA 23234
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    • Value Estimation
      $1,690,000
      16,490 SF

      3609 Belt Blvd

      DISTRIBUTION WAREHOUSE • 16,490 SF
      3609 Belt Blvd, Richmond, VA 23234-1522
      View Details
    • Value Estimation
      $395,000
      5,000 SF

      3401 Commerce Rd

      DISTRIBUTION WAREHOUSE • 5,000 SF
      3401 Commerce Rd, Richmond, VA 23234-1814
      View Details
    • Value Estimation by Request
      40,760 SF

      4500 Deepwater Terminal Rd

      DISTRIBUTION WAREHOUSE • 40,760 SF
      4500 Deepwater Terminal Rd, Richmond, VA 23234-2213
      View Details

    Similar Nearby for Sale

    • $5,100,000
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      Richmond Industrial Investment

      High-cash-flow industrial property.
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    • $2,900,000
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      Office/Warehouse Space For Sale

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      Land on Cogbill Road

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      4.5 Acre Commercial Outparcel

      4.5 acre commercial land with high visibility and access.
      6767 Iron Bridge Rd, Richmond, VA 23234
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    • $45,000
      0.20 Acres

      Richmond, VA Building Lot

      Building lot priced below assessment in Richmond, Virginia.
      3106 Hopkins Rd, Richmond, VA 23234
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    Similar Nearby for Lease

    • Contact for pricing
      56,160 SF

      Richmond Industrial Space with IOS

      Industrial space with outdoor storage and rail access in Richmond.
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      26,666 SF

      Richmond Flex Space with I-95 Frontage

      26,666 SF flex space with I-95 visibility.
      5200 Commerce Rd, Richmond, VA 23234
      View Details
    • $8 SF/Yr
      15,150 SF

      Richmond Flex Space For Lease

      12,000 SF Flex Space Available
      2930-2954 Bells Rd, Richmond, VA 23234
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    • $7 SF/Yr
      40,000 SF

      Richmond Warehouse Space for Lease

      40,000 SF warehouse space available for lease in Richmond.
      3310 Deepwater Terminal Rd, Richmond, VA 23234
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    • Contact for pricing

      Richmond Commercial Land Opportunity

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      1,600 SF

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      1,600 SF retail space with national co-tenants.
      3950-4126 Meadowdale Blvd, Richmond, VA 23234
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    2703 Commerce Rd
    Richmond, VA 23234-1807
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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