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Property profile & analytics
OFF-MARKET
Estimated value
$3,805,000
Hotels
301 Franklin St Richmond, VA 23220-4903
Entity Owned
11-yr Hold
~
Est. High Equity
Property ID
US87-0653505
Property profile
Verified
Property type
Hotels
Use group
HOTEL
Year built
1969
Construction
CONCRETE
Total area
170,690 SF
Lot
0.42 ac (18,382 SF)
Zoning code
R-03 RESIDENTIAL OFFICE
APN
W-000-0173-009
UPID
US87-0653505
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
-
Graduate Richmond Hotel & Motel
-
Byrd House Restaurant
-
Brookfield Restaurant
-
Mystery Dinner Playhouse - Richmond Theater & Performing Art Venue
-
Tesla Destination Charger Electric Vehicle Charging Station
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.81M
Blend (final)
Blend
$3.81M
Owner & transaction history
Raaj Richmond Owner LLC · 11 yrs held
Raaj Richmond Owner LLC
since 2015
7 recorded transactions
Zoning & alternative use
R-03 RESIDENTIAL OFFICE · 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
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
HOTEL/MOTEL
$3,480,000
Current use
Blend value · Realmo final
$3.81M
Range $3.42M – $4.19M · ±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
$22 / 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
$19,298,000
Assessed 2024
Previous assessed
$14,972,000
+28.9% YoY
Effective rate
0.00%
On assessed value
Assessed land
$765,000
Assessed improvement
$18,533,000
Land market value
$765,000
Improvement market value
$18,533,000
Total market value
$19,298,000
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
Hotels
Use group
HOTEL
Status
Off-Market
Year built
1969
Construction
CONCRETE
Heating
YES
Cooling
YES
Stories
15
Rooms
30
Bathrooms
2
Total area
170,690 SF
Lot
0.42 ac (18,382 SF)
Zoning code
R-03 RESIDENTIAL OFFICE
APN
W-000-0173-009
UPID
US87-0653505
Jurisdiction
RICHMOND CITY
Zoning & alternative use
R-03 RESIDENTIAL OFFICE · Richmond, VA
Zoning R-03 RESIDENTIAL OFFICE · permitted uses
R-03 RESIDENTIAL OFFICE · 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
HOTEL/MOTEL Current
Est. value
$3.5M
HOTEL/MOTEL Current
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
1969
Construction
CONCRETE
Heating
YES
Cooling
Yes
Stories
15
Rooms
30
Bathrooms
2
Lot
0.42 ac
Current owner
From public records · entity-resolved
Raaj Richmond Owner LLC
Entity
Mailing address
133 N JEFFERSON ST FL, CHICAGO, IL 60661-2336
Ownership since
2015
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 4, 2026
—
Raaj Richmond Owner LLC
—
Deed
related
$406,000,000 · Tcg Re Agent LLC
Jun 15, 2017
—
Raaj Richmond Owner LLC
—
Deed
related
$211,538,462 · Breds III Mtg Corp
Mar 4, 2015
$9,849,000
Raaj Richmond Owner LLC
Richmond Hotel Partners LP
Special Warranty Deed
related
$75,000 · United Overseas Bank Limited
Aug 4, 2006
$9,500,000
Richmond Hotel Partners
Historic Richmond Hotel LLC
Grant Deed
related
$15,000,000 · Merrill Lynch Cap
—
—
Richmond Hotel Partners LP
—
Loan Modification
related
$15,000,000 · Ge Busn Fin'l Svcs INC
—
—
Raaj Richmond Owner LLC
—
Deed Of Trust
related
$75,000,000 · United Overseas Bk
—
—
Raaj Richmond Owner LLC
—
Loan Modification
related
$75,000,000 · United Overseas Bk
—
—
Raaj Richmond Owner LLC
—
Deed Of Trust
related
$211,538,462 · Breds III Mtg Corp
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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