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Property profile & analytics
OFF-MARKET
Estimated value
$6,405,000
Apartment buildings
2902 Arthur Ashe Blvd Richmond, VA 23230-4317
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US87-1096448
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (100+ UNITS)
Year built
2022
Construction
WOOD
Total area
299,820 SF
Lot
3.16 ac (137,432 SF)
Zoning code
M-2 HEAVY INDUSTRIAL
APN
N-000-1605-022
UPID
US87-1096448
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
$6.24M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$6.41M
Owner & transaction history
Cc Scotts Addition LP · 4 yrs held
Cc Scotts Addition LP
since 2022
Last sale
$6.7M
3 recorded transactions
Zoning & alternative use
M-2 HEAVY INDUSTRIAL · 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
$5,900,000
ML approach
$6,240,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$6.41M
Range $5.76M – $7.05M · ±10% · vs last sale $6.74M (May 12 2022)
Last sale anchor
$6.74M
May 12 2022
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
$21 / 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
$34,155,000
Assessed 2024
Previous assessed
$2,752,000
+1,141.1% YoY
Effective rate
0.00%
On assessed value
Assessed land
$2,752,000
Assessed improvement
$31,403,000
Land market value
$2,752,000
Improvement market value
$31,403,000
Total market value
$34,155,000
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
Apartment buildings
Use group
APARTMENT HOUSE (100+ UNITS)
Status
Off-Market
Year built
2022
Construction
WOOD
Heating
YES
Cooling
CENTRAL
Stories
5
Bathrooms
1
Total area
299,820 SF
Lot
3.16 ac (137,432 SF)
Zoning code
M-2 HEAVY INDUSTRIAL
APN
N-000-1605-022
UPID
US87-1096448
Jurisdiction
RICHMOND CITY
Zoning & alternative use
M-2 HEAVY INDUSTRIAL · Richmond, VA
Zoning M-2 HEAVY INDUSTRIAL · permitted uses
M-2 HEAVY INDUSTRIAL · 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
Year built
2022
Construction
WOOD
Heating
YES
Cooling
Yes
Stories
5
Bathrooms
1
Lot
3.16 ac
Current owner
From public records · entity-resolved
Cc Scotts Addition LP
Entity
Mailing address
601 S TRYON ST #800, CHARLOTTE, NC 28202-1841
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 12, 2022
$6,737,500
Cc Scotts Addition LP
Cc Scotts Addition Member Co-gp LLC
Special Warranty Deed
$52,400,000 · Fifth Third Bank National Associati
Dec 18, 2019
$3,750,000
Trp N Blvd LLC
Wesco Real Estate III LLC
Special Warranty Deed
$2,900,000 · Townebank
—
—
Wesco Real Est III LLC
—
Deed Of Trust
related
$1,622,500 · Credit Suisse Ag Cayman Iss Br
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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