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Property profile & analytics
FOR SALE
Industrial land
2811 Rady St, Richmond, VA 23222
Entity Owned
3-yr Hold
Free & Clear
Property ID
US87-0706205
For Sale
1 / 32
$655,000
2811 Rady St, Richmond, VA 23222
View Listing →
Property summary
AI-generated overview
This exceptional 11.43-acre industrial land parcel in Richmond, VA, offers a unique investment opportunity. Located on Rady Street and zoned M2, this property presents the potential for sale or lease of individual lots, or the development of build-to-suit structures. A key advantage is the potential for rail service, a rare asset in this market. Current ownership is actively preparing the site, including clearing, leveling, grading, road and utility installation, and collaborating with rail authorities to establish a rail spur. Marketing efforts are planned for the summer, aiming to secure tenants or sell completed lots/yards. Beyond industrial use, the site's zoning allows for potential up-zoning to accommodate dense residential development, making it particularly attractive for LIHTC projects. This pre-development phase offers a chance to secure a prime location within this exciting project. The property is situated in Richmond County, VA, with a zip code of 23222. Interested parties are encouraged to explore the various options available.
Property profile
Verified
Property type
Industrial land
Use group
INDUSTRIAL - VACANT LAND
Lot
22.87 ac (996,217 SF)
Zoning code
MULTIPLE ZONING
APN
N-000-0720-017
UPID
US87-0706205
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$595k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$655k
Owner & transaction history
2811 Rady LLC · 3 yrs held
2811 Rady LLC
since 2023
Last sale
$725,000
1 recorded transaction
Zoning & alternative use
MULTIPLE ZONING · Richmond, 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 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
$570,000
ML approach
$595,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$655k
Range $590k – $721k · ±10% · vs last sale $725k (May 23 2023)
Last sale anchor
$725k
May 23 2023
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
—
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
$765,000
Assessed 2024
Previous assessed
$1,020,000
-25.0% YoY
Effective rate
0.00%
On assessed value
Assessed land
$765,000
Land market value
$765,000
Total market value
$765,000
Applied tax rate
6.0000
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
Industrial land
Use group
INDUSTRIAL - VACANT LAND
Status
For Sale
Heating
NONE
Lot
22.87 ac (996,217 SF)
Zoning code
MULTIPLE ZONING
APN
N-000-0720-017
UPID
US87-0706205
Jurisdiction
RICHMOND CITY
Zoning & alternative use
MULTIPLE ZONING · Richmond, VA
Zoning MULTIPLE ZONING · permitted uses
MULTIPLE ZONING · 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.
Building & site characteristics
From public records
Heating
NONE
Lot
22.87 ac
Current owner
From public records · entity-resolved
2811 Rady LLC
Entity
Free & Clear · 3 yrs held
Mailing address
10411 HALL INDUSTRIAL DR, FREDERICKSBURG, VA 22408-8761
Ownership since
2023
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
May 23, 2023
$725,000
2811 Rady LLC
Magnolia Development LLC
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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