Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$1,095,000
Investment properties
304 Adams St Richmond, VA 23220-4261
Entity Owned
Free & Clear
Property ID
US87-1181642
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1912
Construction
TYPE NOT SPECIFIED
Total area
7,124 SF
Lot
0.1 ac (4,168 SF)
Zoning code
B-4 CENTRAL BUSINESS
APN
N-000-0119-020
UPID
US87-1181642
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
$920k
CAP Approach
CAP
$1.37M
Comparable Approach
Comparable
$1.04M
Blend (final)
Blend
$1.10M
Owner & transaction history
Mgp Estate LLC
Mgp Estate LLC
since 2025
Last sale
$1.5M
4 recorded transactions
Zoning & alternative use
B-4 CENTRAL BUSINESS · Richmond, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$1.8M
+36.4%
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
$930,000
ML approach
$920,000
CAP Approach
CAP Return
Estimation
6%
$1,485,000
6.5%
$1,370,000
7%
$1,270,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$1,315,000
Current use
RETAIL STORES
$1,790,000
Change: +36% · Conversion: Easy
AUTO REPAIR, GARAGE
$1,300,000
Change: -1% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$1,230,000
Change: -6% · Conversion: Moderate
MEDICAL BUILDING
$1,185,000
Change: -10% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$1,170,000
Change: -11% · Conversion: Difficult
Blend value · Realmo final
$1.10M
Range $986k – $1.20M · ±10% · vs last sale $1.45M (Apr 30 2025)
Last sale anchor
$1.45M
Apr 30 2025
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
$154 / 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
$1,084,000
Assessed 2024
Previous assessed
$934,000
+16.1% YoY
Effective rate
0.00%
On assessed value
Assessed land
$447,000
Assessed improvement
$637,000
Land market value
$447,000
Improvement market value
$637,000
Total market value
$1,084,000
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
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
Off-Market
Year built
1912
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
YES
Stories
2
Rooms
15
Bathrooms
4
Total area
7,124 SF
Lot
0.1 ac (4,168 SF)
Zoning code
B-4 CENTRAL BUSINESS
APN
N-000-0119-020
UPID
US87-1181642
Jurisdiction
RICHMOND CITY
Zoning & alternative use
B-4 CENTRAL BUSINESS · Richmond, VA
Zoning B-4 CENTRAL BUSINESS · permitted uses
B-4 CENTRAL 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
$1.3M
RETAIL STORES
Est. value
$1.8M
AUTO REPAIR, GARAGE
Est. value
$1.3M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.2M
MEDICAL BUILDING
Est. value
$1.2M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.2M
COMMERCIAL (GENERAL) Current
RETAIL STORES
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
MEDICAL BUILDING
NEIGHBORHOOD: SHOPPING CENTER
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
1912
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
Yes
Stories
2
Rooms
15
Bathrooms
4
Lot
0.1 ac
Current owner
From public records · entity-resolved
Mgp Estate LLC
Entity
Free & Clear · 0 yrs held
Mailing address
11401 WILLOW GATE DR, GLEN ALLEN, VA 23060-6128
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 6, 2026
—
Mgp Estate LLC
—
Deed
related
$634,874 · Atlantic Union Bank
Dec 19, 2025
—
Mgp Estate LLC
Harsha R Panchasara
Deed
related
—
Apr 30, 2025
—
Mgp Estate LLC
Mgp Estate LLC
Deed
related
—
Jul 23, 2014
$1,450,000
Mgp Estate LLC
Broad Adams LLC
Special Warranty Deed
$1,160,000 · Union First Market 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 304 Adams St?
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.
