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Property profile & analytics
OFF-MARKET
Estimated value
$2,595,000
Office Spaces
2920 Broad St Richmond, VA 23230-5103
Entity Owned
9-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US87-0699352
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
1946
Construction
TYPE NOT SPECIFIED
Total area
26,809 SF
Lot
0.63 ac (27,369 SF)
Zoning code
B-3 GENERAL BUSINESS
APN
N-000-1587-033
UPID
US87-0699352
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
-
Shogun Services HVAC Service General Contractor
-
TribleWork Marketing & Advertising (Bike/Boat/Book/etc) Store
-
The Algernon Advertising Agency Marketing & Advertising
-
Be Kind Coaching | Positive Parenting Coach Life Coach Service Establishment
-
DevSoft Digital Corporate Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.52M
Blend (final)
Blend
$2.60M
Owner & transaction history
Hudson Century LLC · 9 yrs held
Hudson Century LLC
since 2016
1 recorded transaction
Zoning & alternative use
B-3 GENERAL BUSINESS · Richmond, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$4.3M
+58.1%
Warehouse, storage
$4.0M
+46.3%
Retail stores
$3.9M
+41.7%
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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$2,725,000
Current use
APARTMENT HOUSE (5+ UNITS)
$4,310,000
Change: +58% · Conversion: Moderate
WAREHOUSE, STORAGE
$3,985,000
Change: +46% · Conversion: Difficult
RETAIL STORES
$3,860,000
Change: +42% · Conversion: Easy
Blend value · Realmo final
$2.60M
Range $2.34M – $2.85M · ±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 2020Property tax & assessments
Tax year 2020
Tax billed
$20
Tax year 2020
Assessed value
$5,418,000
Assessed 2024
Previous assessed
$4,851,000
+11.7% YoY
Effective rate
0.00%
On assessed value
Assessed land
$1,868,000
Assessed improvement
$3,550,000
Land market value
$1,868,000
Improvement market value
$3,550,000
Total market value
$5,418,000
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
Office Spaces
Use group
OFFICE (GENERAL)
Status
Off-Market
Year built
1946
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
YES
Stories
2
Bathrooms
8
Total area
26,809 SF
Lot
0.63 ac (27,369 SF)
Zoning code
B-3 GENERAL BUSINESS
APN
N-000-1587-033
UPID
US87-0699352
Jurisdiction
RICHMOND CITY
Zoning & alternative use
B-3 GENERAL BUSINESS · Richmond, VA
Zoning B-3 GENERAL BUSINESS · permitted uses
B-3 GENERAL BUSINESS · 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
COMMERCIAL (GENERAL) Current
Est. value
$2.7M
APARTMENT HOUSE (5+ UNITS)
Est. value
$4.3M
WAREHOUSE, STORAGE
Est. value
$4.0M
RETAIL STORES
Est. value
$3.9M
COMMERCIAL (GENERAL) Current
APARTMENT HOUSE (5+ UNITS)
WAREHOUSE, STORAGE
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
1946
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
Yes
Stories
2
Bathrooms
8
Lot
0.63 ac
Current owner
From public records · entity-resolved
Hudson Century LLC
Entity
Mailing address
409 E MAIN ST STE #301, RICHMOND, VA 23219-3845
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2016
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
Jul 26, 2016
—
Hudson Century LLC
—
Trustees Deed
related
$900,000 · Park Sterling Bk
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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