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Property profile & analytics
OFF-MARKET
Estimated value
$2,250,000
Office buildings
3435 Leigh St Richmond, VA 23230-4413
Entity Owned
1-yr Hold
Free & Clear
Property ID
US87-3135582
Property profile
Verified
Property type
Office buildings
Use group
PROFESSIONAL BUILDING
Year built
1947
Construction
TYPE NOT SPECIFIED
Total area
10,840 SF
Lot
0.39 ac (16,814 SF)
Zoning code
M-1 LIGHT INDUSTRIAL
APN
N-000-1786-009
UPID
US87-3135582
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
-
Gilbane Building Company Construction Company
-
Continental Underwriters, Inc. Insurance Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.25M
CAP Approach
CAP
$2.39M
Comparable Approach
Comparable
$2.13M
Blend (final)
Blend
$2.25M
Owner & transaction history
Leigh Office Bld LLC · 1 yrs held
Leigh Office Bld LLC
since 2024
Last sale
$2.3M
3 recorded transactions
Zoning & alternative use
M-1 LIGHT INDUSTRIAL · Richmond, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$3.1M
+107.2%
Auto repair, garage
$2.0M
+34.1%
Medical building
$1.8M
+22.6%
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
$2,250,000
ML approach
$2,250,000
CAP Approach
CAP Return
Estimation
6%
$2,590,000
6.5%
$2,390,000
7%
$2,220,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,470,000
Current use
RESTAURANT
$3,050,000
Change: +107% · Conversion: Moderate
AUTO REPAIR, GARAGE
$1,975,000
Change: +34% · Conversion: Difficult
MEDICAL BUILDING
$1,805,000
Change: +23% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$1,780,000
Change: +21% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$1,745,000
Change: +18% · Conversion: Easy
WAREHOUSE, STORAGE
$1,610,000
Change: +9% · Conversion: Difficult
RETAIL STORES
$1,560,000
Change: +6% · Conversion: Moderate
Blend value · Realmo final
$2.25M
Range $2.03M – $2.48M · ±10% · vs last sale $2.25M (Aug 9 2024)
Last sale anchor
$2.25M
Aug 9 2024
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
$208 / 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
$2,567,000
Assessed 2024
Previous assessed
$2,426,000
+5.8% YoY
Effective rate
0.00%
On assessed value
Assessed land
$1,083,000
Assessed improvement
$1,484,000
Land market value
$1,083,000
Improvement market value
$1,484,000
Total market value
$2,567,000
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
1947
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Total area
10,840 SF
Lot
0.39 ac (16,814 SF)
Zoning code
M-1 LIGHT INDUSTRIAL
APN
N-000-1786-009
UPID
US87-3135582
Jurisdiction
RICHMOND CITY
Zoning & alternative use
M-1 LIGHT INDUSTRIAL · Richmond, VA
Zoning M-1 LIGHT INDUSTRIAL · permitted uses
M-1 LIGHT INDUSTRIAL · 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
$1.5M
RESTAURANT
Est. value
$3.1M
AUTO REPAIR, GARAGE
Est. value
$2.0M
MEDICAL BUILDING
Est. value
$1.8M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.8M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.7M
WAREHOUSE, STORAGE
Est. value
$1.6M
RETAIL STORES
Est. value
$1.6M
OFFICE BUILDING Current
RESTAURANT
AUTO REPAIR, GARAGE
MEDICAL BUILDING
NEIGHBORHOOD: SHOPPING CENTER
APARTMENT HOUSE (5+ UNITS)
WAREHOUSE, STORAGE
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
1947
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Lot
0.39 ac
Current owner
From public records · entity-resolved
Leigh Office Bld LLC
Entity
Free & Clear · 1 yrs held
Mailing address
3435 W PO BOX 17644TH ST STE A, RICHMOND, VA 23226-7644
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 9, 2024
$2,250,000
Leigh Office Bld LLC
3435 West Leigh LLC
Special Warranty Deed
—
Dec 20, 2017
—
3435 West Leigh LLC
Roseleigh Partners LLC
Grant Deed
related
—
Jun 21, 2017
—
Roseleigh Partners LLC
—
Loan Modification
related
$4,580,000 · Virginia Cu
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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