Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    3338 Arthur Ashe Blvd Richmond, VA 23230-4207

    • Grocery and convenience stores
    • 2,116 SF
    • 0.29 lot acres
    OFF-MARKET
    Value Estimations
    $200,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US87-0817242
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Grocery and convenience stores

    Property Details for 3338 Arthur Ashe Blvd

    Year built
    1988
    Construction
    TYPE NOT SPECIFIED
    Lot size
    0.29 lot acres
    Property size
    2,116 SF
    Zone code
    B-2 COMMUNITY BUSINESS
    Property type
    Grocery and convenience stores
    APN
    N-000-1320-022
    APU
    N0001320022

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $215,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $180,000
      Market price range: $180k - $381k

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Richmond
    County
    Richmond City
    State
    Virginia
    Longitude
    -77.4622
    Latitude
    37.5779
    CBSA code
    40060
    CBSA name
    RICHMOND, VA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2020
    $20
    $116,000
    $258,000
    $374,000
    -
    $116,000
    $258,000
    $374,000

    Comparable in this City

    • Value Estimation
      $225,000
      2,580 SF

      2800 Broad St

      CONVENIENCE STORE (W/FUEL PUMP) • 2,580 SF
      2800 Broad St, Richmond, VA 23230
      View Details
    • Value Estimation
      $250,000
      1,272 SF

      4027 Broad St

      CONVENIENCE STORE (W/FUEL PUMP) • 1,272 SF
      4027 Broad St, Richmond, VA 23230-3915
      View Details
    • Value Estimation
      $250,000
      1,224 SF

      4900 Broad St

      CONVENIENCE STORE (W/FUEL PUMP) • 1,224 SF
      4900 Broad St, Richmond, VA 23230-3110
      View Details
    • Value Estimation
      $260,000
      2,191 SF

      4105 Broad St

      CONVENIENCE STORE (W/FUEL PUMP) • 2,191 SF
      4105 Broad St, Richmond, VA 23230-3301
      View Details
    • Value Estimation
      $280,000
      1,638 SF

      4803 Broad St

      CONVENIENCE STORE (W/FUEL PUMP) • 1,638 SF
      4803 Broad St, Richmond, VA 23230-3102
      View Details
    • Value Estimation
      $705,000
      1,760 SF

      4419 Broad St

      CONVENIENCE STORE (W/FUEL PUMP) • 1,760 SF
      4419 Broad St, Richmond, VA 23230-3201
      View Details

    Similar Nearby for Sale

    • $1,000,000
      2,640 SF

      Richmond 7-Eleven For Sale

      NNN leased 7-Eleven with rental increases in Richmond, Virginia.
      4601 W Broad St, Richmond, VA 23230
      View Details
    • Contact for pricing
      4,176 SF

      Freestanding Building with Drive-Thru Lanes

      4,176 SF building with three drive-thru lanes for sale.
      4101 W Broad St, Richmond, VA 23230
      View Details
    • Contact for pricing
      9,492 SF

      Historic Building in Prime Location

      Creative space with high visibility in a growing area.
      3015 Cutshaw Ave, Richmond, VA 23230
      View Details
    • $3,200,000
      6,400 SF

      801 W Broad St: Mixed-Use Gem

      Prime Richmond location, high-traffic area.
      801 Broad St, Richmond, VA 23230
      View Details
    • Contact for pricing
      3,323 SF

      Restaurant with Drive Thru

      3,323 SF restaurant with drive-thru for sale.
      5816 W Broad St, Richmond, VA 23230
      View Details
    • Contact for pricing
      3.10 Acres

      Richmond Industrial Land - 3 Acres

      Prime Richmond location, M-1 zoning, build-to-suit options.
      4816 Coleman Rd, Richmond, VA 23230
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,393 SF

      Retail Space in Scotts Addition

      Retail space for lease with patio and parking availability.
      1661 Roseneath Rd, Richmond, VA 23230
      View Details
    • Contact for pricing
      3,500 SF

      Retail/Office Space in Growing District

      Retail or office space in Richmond's fastest growing district.
      2001 Dabney Rd, Richmond, VA 23230
      View Details
    • Contact for pricing
      10,788 SF

      Retail Space in Mixed-Use Development

      First floor retail space in emerging Midtown submarket.
      2015 Staples Mill Rd, Richmond, VA 23230
      View Details
    • $14 SF/Yr
      1,500 SF

      Retail Building on Staples Mill

      22,620 SF retail building for lease on 2.9 acres.
      2121-2149 Staples Mill Rd, Richmond, VA 23230
      View Details
    • Contact for pricing
      6,400 SF

      Retail Space in Richmond, VA

      Retail space available for lease in Richmond, Virginia.
      2911-2915 W Moore St, Richmond, VA 23230
      View Details
    • Contact for pricing
      5,271 SF

      Prime Richmond Retail Space

      Two Suites, 5,271 SF Total
      2922-2925 Marshall St, Richmond, VA 23230
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    3338 Arthur Ashe Blvd
    Richmond, VA 23230-4207
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.