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Property profile & analytics
OFF-MARKET
Estimated value
$700,000
Office buildings
3408 Hermitage Rd Richmond, VA 23227-4307
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US87-3973062
Property profile
Verified
Property type
Office buildings
Use group
PROFESSIONAL BUILDING
Year built
1933
Construction
WOOD
Total area
3,168 SF
Lot
0.23 ac (10,001 SF)
Zoning code
R-5 SINGLE FAMILY
APN
N-000-1321-005
UPID
US87-3973062
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
-
Bates Orthodontics - Northside Richmond Dental Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$655k
CAP Approach
CAP
$700k
Comparable Approach
Comparable
$544k
Blend (final)
Blend
$700k
Owner & transaction history
3408 Hermitage Partners LLC · 2 yrs held
3408 Hermitage Partners LLC
since 2023
Last sale
$825,000
7 recorded transactions
Zoning & alternative use
R-5 SINGLE FAMILY · Richmond, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$575,000
+23.2%
Medical building
$530,000
+12.6%
Neighborhood: shopping center
$520,000
+11.1%
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
$650,000
ML approach
$655,000
CAP Approach
CAP Return
Estimation
6%
$755,000
6.5%
$700,000
7%
$650,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$470,000
Current use
AUTO REPAIR, GARAGE
$575,000
Change: +23% · Conversion: Difficult
MEDICAL BUILDING
$530,000
Change: +13% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$520,000
Change: +11% · Conversion: Difficult
COMMERCIAL (GENERAL)
$500,000
Change: +7% · Conversion: Easy
RETAIL STORES
$455,000
Change: -3% · Conversion: Moderate
Blend value · Realmo final
$700k
Range $630k – $770k · ±10% · vs last sale $825k (Sep 8 2023)
Last sale anchor
$825k
Sep 8 2023
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
$221 / 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
$495,000
Assessed 2024
Previous assessed
$541,000
-8.5% YoY
Effective rate
0.00%
On assessed value
Assessed land
$97,000
Assessed improvement
$398,000
Land market value
$97,000
Improvement market value
$398,000
Total market value
$495,000
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
Office buildings
Use group
PROFESSIONAL BUILDING
Status
Off-Market
Year built
1933
Construction
WOOD
Heating
YES
Cooling
YES
Stories
2
Rooms
13
Bathrooms
1
Total area
3,168 SF
Lot
0.23 ac (10,001 SF)
Zoning code
R-5 SINGLE FAMILY
APN
N-000-1321-005
UPID
US87-3973062
Jurisdiction
RICHMOND CITY
Zoning & alternative use
R-5 SINGLE FAMILY · Richmond, VA
Zoning R-5 SINGLE FAMILY · permitted uses
R-5 SINGLE FAMILY · 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
OFFICE BUILDING Current
Est. value
$470,000
AUTO REPAIR, GARAGE
Est. value
$575,000
MEDICAL BUILDING
Est. value
$530,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$520,000
COMMERCIAL (GENERAL)
Est. value
$500,000
RETAIL STORES
Est. value
$455,000
OFFICE BUILDING Current
AUTO REPAIR, GARAGE
MEDICAL BUILDING
NEIGHBORHOOD: SHOPPING CENTER
COMMERCIAL (GENERAL)
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
1933
Construction
WOOD
Heating
YES
Cooling
Yes
Stories
2
Rooms
13
Bathrooms
1
Lot
0.23 ac
Current owner
From public records · entity-resolved
3408 Hermitage Partners LLC
Entity
Mailing address
1204 LABURNUM PARK BLVD, RICHMOND, VA 23227-4402
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 8, 2023
$825,000
3408 Hermitage Partners LLC
3408 Partners LLC
Special Warranty Deed
$701,250 · First Citizens Bank & Trust Company
Jan 21, 2020
$479,000
3408 Ptrs LLC
3408 Hermitage LLC
Warranty Deed
related
$383,200 · Virginia Cu
Feb 20, 2018
—
3408 Hermitage LLC
—
Deed
related
$273,600 · Academy Nat'l Bk NA
Mar 18, 2016
$304,000
3408 Hermitage LLC
Carr,james N JR
Grant Deed
$273,600 · James N JR Carr
Feb 1, 2011
$230,000
Carr,james N JR & Sandra C
Cawthorn Picard Rowe Deskevich
Trustees Deed
related
—
Oct 13, 2005
$295,000
Storehouse LLC
Carr,james N JR
Grant Deed
$265,500 · James N JR & Sandra C Carr
—
—
3408 Hermitage LLC
—
Deed Of Trust
related
$273,600 · Academy Nat'l Bk NA
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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