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Property profile & analytics
OFF-MARKET
Estimated value
$1,890,000
Medical Office Space
2805 Broad St Richmond, VA 23230-5112
Individually Owned
21-yr Hold
~
Est. High Equity
Property ID
US87-0763254
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL CLINIC
Year built
1995
Construction
TYPE NOT SPECIFIED
Total area
12,600 SF
Lot
0.85 ac (36,852 SF)
Zoning code
B-3 GENERAL BUSINESS
APN
W-000-1292-008
UPID
US87-0763254
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
-
CARES Clinic at VCU Medical Clinic
-
Sheltering Arms Institute Physical Therapy & Rehabilitation Centers Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.21M
Blend (final)
Blend
$1.89M
Owner & transaction history
Zp No 161 · 21 yrs held
Zp No 161
since 2005
2 recorded transactions
Zoning & alternative use
B-3 GENERAL BUSINESS · Richmond, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$2.3M
+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 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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MEDICAL BUILDING
$2,100,000
Current use
AUTO REPAIR, GARAGE
$2,295,000
Change: +9% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$2,070,000
Change: -1% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$2,025,000
Change: -3% · Conversion: Moderate
WAREHOUSE, STORAGE
$1,875,000
Change: -11% · Conversion: Difficult
RETAIL STORES
$1,815,000
Change: -14% · Conversion: Difficult
OFFICE BUILDING
$1,710,000
Change: -18% · Conversion: Easy
Blend value · Realmo final
$1.89M
Range $1.70M – $2.08M · ±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
$150 / 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
$4,304,000
Assessed 2024
Previous assessed
$3,622,000
+18.8% YoY
Effective rate
0.00%
On assessed value
Assessed land
$2,309,000
Assessed improvement
$1,995,000
Land market value
$2,309,000
Improvement market value
$1,995,000
Total market value
$4,304,000
Applied tax rate
2.0000
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
Medical Office Space
Use group
MEDICAL CLINIC
Status
Off-Market
Year built
1995
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
YES
Stories
1
Bathrooms
1
Total area
12,600 SF
Lot
0.85 ac (36,852 SF)
Zoning code
B-3 GENERAL BUSINESS
APN
W-000-1292-008
UPID
US87-0763254
Jurisdiction
RICHMOND CITY
Zoning & alternative use
B-3 GENERAL BUSINESS · Richmond, VA
Zoning B-3 GENERAL BUSINESS · permitted uses
B-3 GENERAL 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
MEDICAL BUILDING Current
Est. value
$2.1M
AUTO REPAIR, GARAGE
Est. value
$2.3M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.1M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.0M
WAREHOUSE, STORAGE
Est. value
$1.9M
RETAIL STORES
Est. value
$1.8M
OFFICE BUILDING
Est. value
$1.7M
MEDICAL BUILDING Current
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
APARTMENT HOUSE (5+ UNITS)
WAREHOUSE, STORAGE
RETAIL STORES
OFFICE BUILDING
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
1995
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
Yes
Stories
1
Bathrooms
1
Lot
0.85 ac
Current owner
From public records · entity-resolved
Zp No 161
Individual
Mailing address
111 PRINCESS ST, WILMINGTON, NC 28401-3948
Ownership since
2005
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
Jan 31, 2022
—
Zp No 161 LP
—
Deed
related
$17,000,000 · Southstate Bank NA
Mar 25, 2005
—
Zp No 161
Zimmer Development Co Of Va
Grant Deed
$1,250,000 · Skymar Cap
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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