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Property profile & analytics
OFF-MARKET
Estimated value
$2,655,000
Drug stores
3520 Ellwood Ave, Richmond, VA 23221-2723
Entity Owned
Free & Clear
Property ID
US87-1008419
Property profile
Verified
Property type
Drug stores
Use group
DRUG STORE, PHARMACY
Year built
2005
Construction
TYPE NOT SPECIFIED
Total area
16,563 SF
Lot
1.52 ac (66,342 SF)
Zoning code
B-3 GENERAL BUSINESS
APN
W-000-1598-026
UPID
US87-1008419
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
-
COVID-19 Drive-Thru Testing at Walgreens Pharmacy
-
Cardtronics ATM Atm
-
FedEx Drop Box Postal Service Courier Service
-
Labcorp at Walgreens Drug Testing Service Paternity Testing Service
-
LibertyX Bitcoin ATM Atm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.78M
Comparable Approach
Comparable
$2.86M
Blend (final)
Blend
$2.66M
Owner & transaction history
GOODWYNS SONS H W LLC WALGREENS
GOODWYNS SONS H W LLC WALGREENS
Zoning & alternative use
B-3 GENERAL BUSINESS · Richmond, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$3.0M
+26.4%
Medical building
$2.8M
+15.6%
Neighborhood: shopping center
$2.7M
+14.0%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$3,015,000
6.5%
$2,780,000
7%
$2,580,000
Alternative Use
Use
Estimation
RETAIL STORES
$2,385,000
Current use
AUTO REPAIR, GARAGE
$3,015,000
Change: +26% · Conversion: Difficult
MEDICAL BUILDING
$2,760,000
Change: +16% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$2,720,000
Change: +14% · Conversion: Moderate
APARTMENT HOUSE (5+ UNITS)
$2,665,000
Change: +12% · Conversion: Difficult
COMMERCIAL (GENERAL)
$2,615,000
Change: +10% · Conversion: Easy
OFFICE BUILDING
$2,450,000
Change: +3% · Conversion: Easy
Blend value · Realmo final
$2.66M
Range $2.39M – $2.92M · ±10%
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
$160 / 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
$4,415,000
Assessed 2024
Previous assessed
$4,415,000
+0.0% YoY
Effective rate
0.00%
On assessed value
Assessed land
$2,796,000
Assessed improvement
$1,619,000
Land market value
$2,796,000
Improvement market value
$1,619,000
Total market value
$4,415,000
Applied tax rate
1.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
Drug stores
Use group
DRUG STORE, PHARMACY
Status
Off-Market
Year built
2005
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
YES
Stories
1
Rooms
25
Total area
16,563 SF
Lot
1.52 ac (66,342 SF)
Zoning code
B-3 GENERAL BUSINESS
APN
W-000-1598-026
UPID
US87-1008419
Jurisdiction
RICHMOND CITY
Zoning & alternative use
B-3 GENERAL BUSINESS · Richmond, VA
Zoning B-3 GENERAL BUSINESS · permitted uses
B-3 GENERAL BUSINESS · 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
RETAIL STORES Current
Est. value
$2.4M
AUTO REPAIR, GARAGE
Est. value
$3.0M
MEDICAL BUILDING
Est. value
$2.8M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.7M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.7M
COMMERCIAL (GENERAL)
Est. value
$2.6M
OFFICE BUILDING
Est. value
$2.5M
RETAIL STORES Current
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
2005
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
Yes
Stories
1
Rooms
25
Lot
1.52 ac
Current owner
From public records · entity-resolved
GOODWYNS SONS H W LLC WALGREENS
Entity
Free & Clear · 0 yrs held
Mailing address
PO BOX 1159, DEERFIELD, IL 60015-6002
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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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