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Property profile & analytics
OFF-MARKET
Estimated value
$9,200,000
Manufacturing properties
2840 Sprouse Dr Henrico, VA 23231-6039
Entity Owned
8-yr Hold
Absentee Owner
Free & Clear
Property ID
US87-0665450
Property profile
Verified
Property type
Manufacturing properties
Use group
HEAVY MANUFACTURING
Year built
1981
Total area
95,304 SF
Lot
10.24 ac (446,098 SF)
Zoning code
MIXE
APN
818-706-4015
UPID
US87-0665450
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
$9.30M
Comparable Approach
Comparable
$9.41M
Blend (final)
Blend
$9.20M
Owner & transaction history
Sprouse Drive LLC · 8 yrs held
Sprouse Drive LLC
since 2017
4 recorded transactions
Zoning & alternative use
MIXE · Henrico, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$15.3M
+56.0%
Commercial (general)
$15.1M
+53.2%
Office building
$14.1M
+43.5%
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%
$10,070,000
6.5%
$9,295,000
7%
$8,630,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$9,820,000
Current use
APARTMENT HOUSE (5+ UNITS)
$15,320,000
Change: +56% · Conversion: Difficult
COMMERCIAL (GENERAL)
$15,050,000
Change: +53% · Conversion: Difficult
OFFICE BUILDING
$14,095,000
Change: +44% · Conversion: Difficult
Blend value · Realmo final
$9.20M
Range $8.28M – $10.12M · ±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
$97 / 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 2024Property tax & assessments
Tax year 2024
Tax billed
$65,262
Tax year 2024
Assessed value
$7,353,400
Assessed 2024
Previous assessed
$7,353,400
+0.0% YoY
Effective rate
0.89%
On assessed value
Assessed land
$665,600
Assessed improvement
$6,687,800
Land market value
$665,600
Improvement market value
$6,687,800
Total market value
$7,353,400
Applied tax rate
5.0000
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
Manufacturing properties
Use group
HEAVY MANUFACTURING
Status
Off-Market
Year built
1981
Heating
YES
Cooling
AC.PACKAGE
Stories
1
Total area
95,304 SF
Lot
10.24 ac (446,098 SF)
Zoning code
MIXE
APN
818-706-4015
UPID
US87-0665450
Jurisdiction
HENRICO
Zoning & alternative use
MIXE · Henrico, VAZoning MIXE · permitted uses
MIXE · Henrico, VA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$9.8M
APARTMENT HOUSE (5+ UNITS)
Est. value
$15.3M
COMMERCIAL (GENERAL)
Est. value
$15.1M
OFFICE BUILDING
Est. value
$14.1M
INDUSTRIAL (GENERAL) Current
APARTMENT HOUSE (5+ UNITS)
COMMERCIAL (GENERAL)
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
1981
Heating
YES
Cooling
Yes
Stories
1
Lot
10.24 ac
Current owner
From public records · entity-resolved
Sprouse Drive LLC
Entity
Free & Clear · 8 yrs held
Mailing address
10320 CHEROKEE RD, RICHMOND, VA 23235-1110
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 22, 2017
—
Sprouse Drive LLC
Theodore H Butz
Grant Deed
—
Mar 1, 2016
$4,900,000
Theodore H Butz
Samuel L Peters LLC
Grant Deed
—
Dec 6, 2010
—
Samuel L Peters LLC
Peters,samuel L
Quit Claim Deed
related
—
—
—
Samuel L Peters
—
Deed Of Trust
related
$31,950 · National City Mortgage Co
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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