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Property profile & analytics
OFF-MARKET
Estimated value
$670,000
Investment properties
2929 Cary St Richmond, VA 23221-3515
Entity Owned
7-yr Hold
Free & Clear
Property ID
US87-0611608
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
2020
Construction
WOOD
Total area
5,300 SF
Lot
0.08 ac (3,600 SF)
Zoning code
UB-PO2 PARKING OVERLAY
APN
W-000-1281-003
UPID
US87-0611608
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
-
Lolita's Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$918k
Blend (final)
Blend
$670k
Owner & transaction history
2929 W Cary St LLC · 7 yrs held
2929 W Cary St LLC
since 2018
5 recorded transactions
Zoning & alternative use
UB-PO2 PARKING OVERLAY · Richmond, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$965,000
+15.4%
Medical building
$885,000
+5.5%
Neighborhood: shopping center
$870,000
+4.1%
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)
$835,000
Current use
AUTO REPAIR, GARAGE
$965,000
Change: +15% · Conversion: Difficult
MEDICAL BUILDING
$885,000
Change: +6% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$870,000
Change: +4% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$850,000
Change: +2% · Conversion: Moderate
OFFICE BUILDING
$785,000
Change: -6% · Conversion: Easy
RETAIL STORES
$765,000
Change: -9% · Conversion: Easy
Blend value · Realmo final
$670k
Range $603k – $737k · ±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
$126 / 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
$1,208,000
Assessed 2024
Previous assessed
$1,208,000
+0.0% YoY
Effective rate
0.00%
On assessed value
Assessed land
$290,000
Assessed improvement
$918,000
Land market value
$290,000
Improvement market value
$918,000
Total market value
$1,208,000
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
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
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
Off-Market
Year built
2020
Construction
WOOD
Heating
YES
Cooling
YES
Stories
2
Rooms
8
Bathrooms
1
Total area
5,300 SF
Lot
0.08 ac (3,600 SF)
Zoning code
UB-PO2 PARKING OVERLAY
APN
W-000-1281-003
UPID
US87-0611608
Jurisdiction
RICHMOND CITY
Zoning & alternative use
UB-PO2 PARKING OVERLAY · Richmond, VA
Zoning UB-PO2 PARKING OVERLAY · permitted uses
UB-PO2 PARKING OVERLAY · 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
$835,000
AUTO REPAIR, GARAGE
Est. value
$965,000
MEDICAL BUILDING
Est. value
$885,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$870,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$850,000
OFFICE BUILDING
Est. value
$785,000
RETAIL STORES
Est. value
$765,000
COMMERCIAL (GENERAL) Current
AUTO REPAIR, GARAGE
MEDICAL BUILDING
NEIGHBORHOOD: SHOPPING CENTER
APARTMENT HOUSE (5+ UNITS)
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
2020
Construction
WOOD
Heating
YES
Cooling
Yes
Stories
2
Rooms
8
Bathrooms
1
Lot
0.08 ac
Current owner
From public records · entity-resolved
2929 W Cary St LLC
Entity
Free & Clear · 7 yrs held
Mailing address
PO BOX 8301, RICHMOND, VA 23226-0301
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 25, 2019
—
2929 W Cary St LLC
—
Deed
related
$1,130,000 · Virginia Cu
Sep 5, 2018
$725,000
2929 W Cary St LLC
Trevor B Reid
Foreclosure
—
Aug 14, 2018
$725,000
2929 W Cary St LLC
Trevor B Reid
Foreclosure
$375,000 · Private Individual
—
—
2929 W Cary St LLC
—
Deed Of Trust
related
$1,130,000 · Virginia Cu
—
—
Balboa,max
—
Deed Of Trust
related
$450,000 · James River Inv
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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