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Property profile & analytics
OFF-MARKET
Estimated value
$3,440,000
Office buildings
2819 Parham Rd Henrico, VA 23294-4425
Entity Owned
4-yr Hold
Absentee Owner
Free & Clear
Property ID
US87-1329322
Property summary
AI-generated overview
This exceptional two-story Class B medical office building, located at 2819 N Parham Rd, Richmond, VA 23294 (cross streets: Mayland Dr), offers a total of 35,920 square feet of space. The property is zoned O-2 and situated in Henrico County, providing convenient access for patients and staff. Multiple tenancy options are available, with a maximum of 6,000 contiguous square feet currently available for lease. The building boasts ample parking, with 1,000 spaces providing a generous 4.01 parking ratio. This ensures convenient parking for both patients and staff. The property is ideal for a variety of medical practices seeking a well-maintained and accessible location. Its strategic location in Richmond offers excellent visibility and accessibility. Interested parties should inquire about available suite sizes and lease terms. The building's substantial size and ample parking make it a highly desirable location for medical professionals seeking to establish or expand their practice in a thriving community. This is a fantastic opportunity to secure prime medical office space in a highly sought-after area.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1976
Total area
35,860 SF
Lot
2.26 ac (98,576 SF)
Zoning code
O-2
APN
758-753-9840
UPID
US87-1329322
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
-
Isalis (Bike/Boat/Book/etc) Store
-
Party City Party Supply Store (Bike/Boat/Book/etc) Store
-
Skunk Funk Big Box & Wholesale Store
-
Carl's Trading Co Hat Shop
-
Bushka's Kitchen LLC (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.46M
Blend (final)
Blend
$3.44M
Owner & transaction history
NORTH PARHAM REALTY LLC · 6 yrs held
NORTH PARHAM REALTY LLC
since 2020
1 recorded transaction
Zoning & alternative use
O-2 · Henrico, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$5.7M
+6.8%
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 Henrico submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Henrico 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
OFFICE BUILDING
$5,305,000
Current use
COMMERCIAL (GENERAL)
$5,660,000
Change: +7% · Conversion: Easy
RETAIL STORES
$5,165,000
Change: -3% · Conversion: Moderate
Blend value · Realmo final
$3.44M
Range $3.10M – $3.78M · ±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
$96 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$19,518
Tax year 2023
Assessed value
$2,296,200
Assessed 2024
Previous assessed
$2,296,200
+0.0% YoY
Effective rate
0.85%
On assessed value
Assessed land
$468,200
Assessed improvement
$1,828,000
Land market value
$468,200
Improvement market value
$1,828,000
Total market value
$2,296,200
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1976
Heating
NONE
Cooling
AC.PACKAGE
Stories
2
Total area
35,860 SF
Lot
2.26 ac (98,576 SF)
Zoning code
O-2
APN
758-753-9840
UPID
US87-1329322
Jurisdiction
HENRICO
Zoning & alternative use
O-2 · Henrico, VA
Zoning O-2 · permitted uses
O-2 · Henrico, VA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Henrico. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$5.3M
COMMERCIAL (GENERAL)
Est. value
$5.7M
RETAIL STORES
Est. value
$5.2M
OFFICE BUILDING Current
COMMERCIAL (GENERAL)
RETAIL STORES
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
1976
Heating
NONE
Cooling
Yes
Stories
2
Lot
2.26 ac
Current owner
From public records · entity-resolved
NORTH PARHAM REALTY LLC
Entity
Free & Clear · 6 yrs held
Mailing address
3 SMT DR, HENRICO, VA 23229-8008
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2020
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
Mar 23, 2020
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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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