Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    2814 3rd Ave Richmond, VA 23222

    • Parking lots & garages
    • 0.16 lot acres
    OFF-MARKET
    Value Estimations
    $255,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US87-0881443
    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

    • Parking lots & garages

    Property Details for 2814 3rd Ave

    Year built
    1990
    Lot size
    0.16 lot acres
    Zone code
    R-6 SINGLE FAMILY ATTACHE
    Property type
    Parking lots & garages
    APN
    N-000-0808-003
    APU
    N0000808003

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $255,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Richmond
    County
    Richmond City
    State
    Virginia
    Longitude
    -77.4188
    Latitude
    37.5677
    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
    $804
    $61,000
    $6,000
    $67,000
    -
    $61,000
    $6,000
    $67,000

    Comparable in this City

    • Value Estimation
      $195,000
      0.32 Acres

      2705 Garland Ave

      PARKING LOT • 0.32 Acres
      2705 Garland Ave, Richmond, VA 23222
      View Details
    • Value Estimation
      $390,000
      1.30 Acres

      1529 Call St

      PARKING LOT • 1.30 Acres
      1529 Call St, Richmond, VA 23222
      View Details
    • Value Estimation
      $255,000
      0.22 Acres

      2821 Fendall Ave

      PARKING LOT • 0.22 Acres
      2821 Fendall Ave, Richmond, VA 23222-3622
      View Details
    • Value Estimation
      $210,000
      1,516 SF

      2708 Hanes Ave

      PARKING LOT • 1,516 SF
      2708 Hanes Ave, Richmond, VA 23222-3633
      View Details
    • Value Estimation
      $80,000
      0.16 Acres

      2927 2nd Ave

      PARKING LOT • 0.16 Acres
      2927 2nd Ave, Richmond, VA 23222
      View Details
    • Value Estimation
      $245,000
      0.07 Acres

      2602 Chamberlayne Ave, Unit A

      PARKING LOT • 0.07 Acres
      2602 Chamberlayne Ave, Richmond, VA 23222-3502
      View Details

    Similar Nearby for Sale

    • $2,300,000
      3,025 SF

      Retail Property on Laburnum Avenue

      Retail property available for sale on Laburnum Avenue.
      2200 E Laburnum Ave, Richmond, VA 23222
      View Details
    • $695,000

      Richmond Commercial Land For Sale

      Commercial land available in Richmond, Virginia.
      2921 Griffin Ave, Richmond, VA 23222
      View Details
    • Contact for pricing
      3,520 SF

      Richmond Office Space For Sale

      Office space available for sale in Richmond, Virginia.
      1307 E Brookland Park Blvd, Richmond, VA 23222
      View Details
    • $2,125,000
      20,363 SF

      Richmond Warehouse: Prime Industrial Space

      20,363 SF Warehouse, Ideal for Owner/User
      1606 Magnolia St, Richmond, VA 23222
      View Details
    • $415,000

      Richmond Specialty Property For Sale

      Specialty property available for purchase in Richmond, Virginia.
      2815 3Rd Ave, Richmond, VA 23222
      View Details
    • $250,000

      Versatile Duplex Home For Sale

      Single-family home set up as a duplex for flexible living.
      3504 1St Ave, Richmond, VA 23222
      View Details

    Similar Nearby for Lease

    • $5,800 /Mo
      16,988 SF

      Versatile Commercial Building in Richmond, VA

      Functional space with redevelopment potential in a growing area.
      2700 North Ave, Richmond, VA 23222
      View Details
    • Contact for pricing
      7,624 SF

      Glen Lea Centre: Richmond Retail Space

      Prime Richmond retail space, multiple units available.
      3808 Mechanicsville Tpke, Richmond, VA 23222
      View Details
    • $675,000
      3,000 SF

      Prime Retail Space Available

      Retail property for rent with 112.7' frontage.
      2425 Chamberlayne Ave, Richmond, VA 23222
      View Details
    • Contact for pricing
      2,294 SF

      Retail/Office Space with Patio

      4,203 SF retail/office space with outdoor patio.
      2900 Chamberlayne Ave, Richmond, VA 23222
      View Details
    • Contact for pricing
      514,500 SF

      Richmond Industrial Build-to-Suit Opportunity

      514,500 SF build-to-suit opportunity near major transportation routes.
      Richmond Henrico Tpke, Richmond, VA 23222
      View Details
    • Contact for pricing
      23,000 SF

      Richmond Industrial Space For Rent

      Industrial property available for rent in Richmond, Virginia.
      3905-3911 Carolina Ave, Richmond, VA 23222
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2814 3rd Ave
    Richmond, VA 23222
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.