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Property profile & analytics
OFF-MARKET
Estimated value
$10,755,000
Warehouses
3501 Cox Rd, Henrico, VA 23233-1301
Entity Owned
4-yr Hold
Absentee Owner
Free & Clear
Property ID
US87-2411611
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
2016
Total area
61,100 SF
Lot
1.83 ac (79,802 SF)
Zoning code
B-2C
APN
747-758-9463
UPID
US87-2411611
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
-
Isalis (Bike/Boat/Book/etc) Store
-
Party City Party Supply Store (Bike/Boat/Book/etc) Store
-
Skunk Funk Big Box & Wholesale Store
-
Carl's Trading Co Hat Shop
-
Bushka's Kitchen LLC (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$10.41M
CAP Approach
CAP
$10.02M
Comparable Approach
Comparable
$11.13M
Blend (final)
Blend
$10.76M
Owner & transaction history
Life Storage LP · 4 yrs held
Life Storage LP
since 2021
Last sale
$10.8M
3 recorded transactions
Zoning & alternative use
B-2C · Henrico, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$17.2M
+185.6%
Auto repair, garage
$11.1M
+84.9%
Medical building
$10.2M
+69.1%
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 Henrico submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Henrico 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
$11,370,000
ML approach
$10,405,000
CAP Approach
CAP Return
Estimation
6%
$10,855,000
6.5%
$10,020,000
7%
$9,305,000
Alternative Use
Use
Estimation
RESTAURANT
$17,195,000
Change: +186% · Conversion: Difficult
AUTO REPAIR, GARAGE
$11,130,000
Change: +85% · Conversion: Easy
MEDICAL BUILDING
$10,180,000
Change: +69% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$10,040,000
Change: +67% · Conversion: Moderate
APARTMENT HOUSE (5+ UNITS)
$9,820,000
Change: +63% · Conversion: Difficult
COMMERCIAL (GENERAL)
$9,650,000
Change: +60% · Conversion: Difficult
OFFICE BUILDING
$9,035,000
Change: +50% · Conversion: Difficult
Blend value · Realmo final
$10.76M
Range $9.68M – $11.83M · ±10% · vs last sale $10.80M (Nov 17 2021)
Last sale anchor
$10.80M
Nov 17 2021
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
$176 / 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 2024Property tax & assessments
Tax year 2024
Tax billed
$107,158
Tax year 2024
Assessed value
$10,187,800
Assessed 2024
Previous assessed
$10,187,800
+0.0% YoY
Effective rate
1.05%
On assessed value
Assessed land
$713,500
Assessed improvement
$9,474,300
Land market value
$713,500
Improvement market value
$9,474,300
Total market value
$10,187,800
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
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Status
Off-Market
Year built
2016
Heating
NONE
Cooling
AC.PACKAGE
Stories
3
Total area
61,100 SF
Lot
1.83 ac (79,802 SF)
Zoning code
B-2C
APN
747-758-9463
UPID
US87-2411611
Jurisdiction
HENRICO
Zoning & alternative use
B-2C · Henrico, VA
Zoning B-2C · permitted uses
B-2C · Henrico, VA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Henrico. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT
Est. value
$17.2M
AUTO REPAIR, GARAGE
Est. value
$11.1M
MEDICAL BUILDING
Est. value
$10.2M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$10.0M
APARTMENT HOUSE (5+ UNITS)
Est. value
$9.8M
COMMERCIAL (GENERAL)
Est. value
$9.7M
OFFICE BUILDING
Est. value
$9.0M
RESTAURANT
AUTO REPAIR, GARAGE
MEDICAL BUILDING
NEIGHBORHOOD: SHOPPING CENTER
APARTMENT HOUSE (5+ UNITS)
COMMERCIAL (GENERAL)
OFFICE BUILDING
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
2016
Heating
NONE
Cooling
Yes
Stories
3
Lot
1.83 ac
Current owner
From public records · entity-resolved
Life Storage LP
Entity
Free & Clear · 4 yrs held
Mailing address
2121 OLD GATESBURG RD STE #200, STATE COLLEGE, PA 16803-2290
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2021
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
Nov 17, 2021
$10,796,637
Life Storage LP
Cox Road Storage LLC
Special Warranty Deed
—
Apr 21, 2015
—
Cox Road Storage LLC
—
Grant Deed
related
$6,000,000 · Branch Bk&tr
Aug 25, 2009
—
County Of Henrico Virginia
Cox Road Storage LLC
Grant Deed
related
—
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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