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Property profile & analytics
OFF-MARKET
Estimated value
$1,215,000
Apartment buildings
2822 Floyd Ave Richmond, VA 23221-3032
Entity Owned
1-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US87-0052058
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1923
Construction
BRICK
Total area
5,652 SF
Lot
0.06 ac (2,720 SF)
Zoning code
R-6 SINGLE FAMILY ATTACHE
APN
W-000-1245-020
UPID
US87-0052058
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
by Request
CAP Approach
CAP
$1.08M
Comparable Approach
Comparable
$884k
Blend (final)
Blend
$1.22M
Owner & transaction history
2413 Lamb Ave LLC · 1 yrs held
2413 Lamb Ave LLC
since 2025
Last sale
$1.5M
2 recorded transactions
Zoning & alternative use
R-6 SINGLE FAMILY ATTACHE · Richmond, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.6M
+75.0%
Auto repair, garage
$1.0M
+13.3%
Medical building
$940,000
+3.6%
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%
$1,165,000
6.5%
$1,075,000
7%
$1,000,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$910,000
Current use
RESTAURANT
$1,590,000
Change: +75% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,030,000
Change: +13% · Conversion: Difficult
MEDICAL BUILDING
$940,000
Change: +4% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$930,000
Change: +2% · Conversion: Difficult
COMMERCIAL (GENERAL)
$890,000
Change: -2% · Conversion: Moderate
OFFICE BUILDING
$835,000
Change: -8% · Conversion: Moderate
RETAIL STORES
$815,000
Change: -10% · Conversion: Difficult
Blend value · Realmo final
$1.22M
Range $1.09M – $1.34M · ±10% · vs last sale $1.45M (Nov 21 2024)
Last sale anchor
$1.45M
Nov 21 2024
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
$215 / 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
$998,000
Assessed 2024
Previous assessed
$998,000
+0.0% YoY
Effective rate
0.00%
On assessed value
Assessed land
$163,000
Assessed improvement
$835,000
Land market value
$163,000
Improvement market value
$835,000
Total market value
$998,000
Applied tax rate
1.0000
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
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Status
Off-Market
Year built
1923
Construction
BRICK
Heating
HEAT PUMP
Cooling
CENTRAL
Stories
3
Units
6
Rooms
33
Bathrooms
6
Total area
5,652 SF
Lot
0.06 ac (2,720 SF)
Zoning code
R-6 SINGLE FAMILY ATTACHE
APN
W-000-1245-020
UPID
US87-0052058
Jurisdiction
RICHMOND CITY
Zoning & alternative use
R-6 SINGLE FAMILY ATTACHE · Richmond, VA
Zoning R-6 SINGLE FAMILY ATTACHE · permitted uses
R-6 SINGLE FAMILY ATTACHE · 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
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$910,000
RESTAURANT
Est. value
$1.6M
AUTO REPAIR, GARAGE
Est. value
$1.0M
MEDICAL BUILDING
Est. value
$940,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$930,000
COMMERCIAL (GENERAL)
Est. value
$890,000
OFFICE BUILDING
Est. value
$835,000
RETAIL STORES
Est. value
$815,000
APARTMENT HOUSE (5+ UNITS) Current
RESTAURANT
AUTO REPAIR, GARAGE
MEDICAL BUILDING
NEIGHBORHOOD: SHOPPING CENTER
COMMERCIAL (GENERAL)
OFFICE BUILDING
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
1923
Construction
BRICK
Heating
HEAT PUMP
Cooling
Yes
Stories
3
Units
6
Rooms
33
Bathrooms
6
Lot
0.06 ac
Current owner
From public records · entity-resolved
2413 Lamb Ave LLC
Entity
Mailing address
1014 SHARON LN, RICHMOND, VA 23229-6529
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2025
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
Feb 21, 2025
$1,450,000
2413 Lamb Ave LLC
2822 Floyd LLC
Warranty Deed
$1,160,000 · Virginia National Bank
Aug 17, 2006
$585,000
David Neely
Linda Mays
Warranty Deed
$345,000 · Wachovia Bank N A
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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