New search
Property profile & analytics
OFF-MARKET
Estimated value
$23,810,000
Office buildings
3011 Hungary Spg Rd, Henrico, VA 23228-2429
Entity Owned
21-yr Hold
~
Est. High Equity
Property ID
US87-1271125
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1973
Total area
226,708 SF
Lot
28.06 ac (1,222,076 SF)
Zoning code
O-3
APN
766-752-5952
UPID
US87-1271125
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
by Request
Comparable Approach
Comparable
$26.90M
Blend (final)
Blend
$23.81M
Owner & transaction history
Wilton Development Corp · 21 yrs held
Wilton Development Corp
since 2005
1 recorded transaction
Zoning & alternative use
O-3 · Henrico, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$37.8M
+18.4%
Neighborhood: shopping center
$37.2M
+16.8%
Apartment house (5+ units)
$36.4M
+14.3%
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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$31,885,000
Current use
MEDICAL BUILDING
$37,765,000
Change: +18% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$37,245,000
Change: +17% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$36,445,000
Change: +14% · Conversion: Easy
RETAIL STORES
$32,660,000
Change: +2% · Conversion: Moderate
COMMERCIAL (GENERAL)
$31,880,000
Change: 0% · Conversion: Easy
Blend value · Realmo final
$23.81M
Range $21.43M – $26.19M · ±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
$105 / 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 2023Property tax & assessments
Tax year 2023
Assessed value
$25,408,100
Assessed 2024
Previous assessed
$25,408,100
+0.0% YoY
Assessed land
$5,047,200
Assessed improvement
$20,360,900
Land market value
$5,047,200
Improvement market value
$20,360,900
Total market value
$25,408,100
Applied tax rate
3.0000
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 buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1973
Heating
HOT WATER
Cooling
AC.CHILLED WATER
Stories
4
Total area
226,708 SF
Lot
28.06 ac (1,222,076 SF)
Zoning code
O-3
APN
766-752-5952
UPID
US87-1271125
Jurisdiction
HENRICO
Zoning & alternative use
O-3 · Henrico, VA
Zoning O-3 · permitted uses
O-3 · Henrico, VA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Henrico. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$31.9M
MEDICAL BUILDING
Est. value
$37.8M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$37.2M
APARTMENT HOUSE (5+ UNITS)
Est. value
$36.4M
RETAIL STORES
Est. value
$32.7M
COMMERCIAL (GENERAL)
Est. value
$31.9M
OFFICE BUILDING Current
MEDICAL BUILDING
NEIGHBORHOOD: SHOPPING CENTER
APARTMENT HOUSE (5+ UNITS)
RETAIL STORES
COMMERCIAL (GENERAL)
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
1973
Heating
HOT WATER
Cooling
Yes
Stories
4
Lot
28.06 ac
Current owner
From public records · entity-resolved
Wilton Development Corp
Entity
Mailing address
3011 HUNGARY SPG RD, HENRICO, VA 23228-2429
Ownership since
2005
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
Feb 24, 2005
$1,074,500
Wilton Development Corp
Verizon Va INC
Grant Deed
$3,642,000 · First Community Bank
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 3011 Hungary Spg Rd?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
