Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$1,275,000
Apartment buildings
3117 Meadowbridge Rd Richmond, VA 23222-3140
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US87-1079233
Property summary
AI-generated overview
This exceptional 14-unit apartment building, located at 3117 Meadowbridge Rd in Richmond, VA (zip code 23222), presents a compelling investment opportunity. The property encompasses 11,304 square feet on a 0.322-acre lot and is designated by APN N0001156010. The two-story building features fourteen two-bedroom, one-bathroom garden-style apartments, currently boasting a 90% occupancy rate. Each unit includes a spacious living room and galley kitchen. Residents enjoy the convenience of onsite laundry facilities and approximately 10 off-street parking spaces. The property is zoned RO-2. Situated in Richmond's Northside, this location benefits from a revitalized neighborhood experiencing significant single-family home redevelopment and a resurgence of nearby commercial retail activity. The existing below-market rents offer potential for increased revenue. This property represents a strong investment in a thriving area with significant upside potential. The building consists of one structure.
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1979
Construction
TYPE NOT SPECIFIED
Total area
11,304 SF
Lot
0.32 ac (14,046 SF)
Zoning code
R-02 RESIDENTIAL OFFICE
APN
N-000-1156-010
UPID
US87-1079233
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
$1.23M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.28M
Owner & transaction history
Meadowbridge Investment LLC · 4 yrs held
Meadowbridge Investment LLC
since 2022
Last sale
$1.4M
4 recorded transactions
Zoning & alternative use
R-02 RESIDENTIAL OFFICE · Richmond, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$2.1M
+13.3%
Medical building
$1.9M
+3.6%
Neighborhood: shopping center
$1.9M
+2.2%
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
$1,180,000
ML approach
$1,225,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$1,815,000
Current use
AUTO REPAIR, GARAGE
$2,060,000
Change: +13% · Conversion: Difficult
MEDICAL BUILDING
$1,885,000
Change: +4% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$1,855,000
Change: +2% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,785,000
Change: -2% · Conversion: Moderate
OFFICE BUILDING
$1,670,000
Change: -8% · Conversion: Moderate
RETAIL STORES
$1,630,000
Change: -10% · Conversion: Difficult
Blend value · Realmo final
$1.28M
Range $1.15M – $1.40M · ±10% · vs last sale $1.35M (Jun 1 2022)
Last sale anchor
$1.35M
Jun 1 2022
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
$113 / 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
$1,341,000
Assessed 2024
Previous assessed
$1,183,000
+13.4% YoY
Effective rate
0.00%
On assessed value
Assessed land
$65,000
Assessed improvement
$1,276,000
Land market value
$65,000
Improvement market value
$1,276,000
Total market value
$1,341,000
Applied tax rate
6.0000
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
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Status
Off-Market
Year built
1979
Construction
TYPE NOT SPECIFIED
Heating
YES
Stories
2
Units
14
Rooms
56
Bathrooms
14
Total area
11,304 SF
Lot
0.32 ac (14,046 SF)
Zoning code
R-02 RESIDENTIAL OFFICE
APN
N-000-1156-010
UPID
US87-1079233
Jurisdiction
RICHMOND CITY
Zoning & alternative use
R-02 RESIDENTIAL OFFICE · Richmond, VA
Zoning R-02 RESIDENTIAL OFFICE · permitted uses
R-02 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
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$1.8M
AUTO REPAIR, GARAGE
Est. value
$2.1M
MEDICAL BUILDING
Est. value
$1.9M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.9M
COMMERCIAL (GENERAL)
Est. value
$1.8M
OFFICE BUILDING
Est. value
$1.7M
RETAIL STORES
Est. value
$1.6M
APARTMENT HOUSE (5+ UNITS) Current
AUTO REPAIR, GARAGE
MEDICAL BUILDING
NEIGHBORHOOD: SHOPPING CENTER
COMMERCIAL (GENERAL)
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
1979
Construction
TYPE NOT SPECIFIED
Heating
YES
Stories
2
Units
14
Rooms
56
Bathrooms
14
Lot
0.32 ac
Current owner
From public records · entity-resolved
Meadowbridge Investment LLC
Entity
Mailing address
4914 RADFORD AVE STE #308, RICHMOND, VA 23230-3536
Ownership since
2022
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
Jun 1, 2022
$1,350,000
Meadowbridge Investment LLC
Six Points LLC
Warranty Deed
$1,147,500 · Vcc Bank
Jul 20, 2020
$850,000
Six Points LLC
Tjc Realty Meadowbridge LLC
Warranty Deed
$885,000 · Old Dominion Nat'l Bk
Dec 22, 2016
$418,000
Tjc Rlty Meadowbridge LLC
Meadowbridge Apts LLC
Grant Deed
related
$313,500 · Union Bk&tr
Oct 2, 2015
$315,000
Meadowbridge Apts LLC
3117 Meadowbridge LLC
Grant Deed
related
$185,000 · Capitalist Lending Group LLC
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 3117 Meadowbridge 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.
