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Property profile & analytics
OFF-MARKET
Estimated value
$4,130,000
Industrial properties
3601 Saunders Ave Richmond, VA 23227-4354
Entity Owned
2-yr Hold
Free & Clear
Property ID
US87-1046401
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
1984
Construction
TYPE NOT SPECIFIED
Total area
32,790 SF
Lot
6.4 ac (278,784 SF)
Zoning code
M-1 LIGHT INDUSTRIAL
APN
N-017-0655-006
UPID
US87-1046401
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
-
ABC Health Care Home Health Care Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$3.20M
Comparable Approach
Comparable
$5.28M
Blend (final)
Blend
$4.13M
Owner & transaction history
Ibp LP · 2 yrs held
Ibp LP
since 2024
3 recorded transactions
Zoning & alternative use
M-1 LIGHT INDUSTRIAL · Richmond, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Source
code of ordinances
Top alternative use upside
Auto repair, garage
$6.0M
+76.8%
Medical building
$5.5M
+61.7%
Neighborhood: shopping center
$5.4M
+59.4%
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%
$3,465,000
6.5%
$3,200,000
7%
$2,970,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$3,380,000
Current use
AUTO REPAIR, GARAGE
$5,970,000
Change: +77% · Conversion: Easy
MEDICAL BUILDING
$5,460,000
Change: +62% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$5,385,000
Change: +59% · Conversion: Difficult
COMMERCIAL (GENERAL)
$5,180,000
Change: +53% · Conversion: Difficult
OFFICE BUILDING
$4,850,000
Change: +44% · Conversion: Difficult
Blend value · Realmo final
$4.13M
Range $3.72M – $4.54M · ±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
$126 / 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
$8,529,000
Assessed 2024
Previous assessed
$8,011,000
+6.5% YoY
Effective rate
0.00%
On assessed value
Assessed land
$5,368,000
Assessed improvement
$3,161,000
Land market value
$5,368,000
Improvement market value
$3,161,000
Total market value
$8,529,000
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
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Status
Off-Market
Year built
1984
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
CENTRAL
Buildings
2
Stories
1
Total area
32,790 SF
Lot
6.4 ac (278,784 SF)
Zoning code
M-1 LIGHT INDUSTRIAL
APN
N-017-0655-006
UPID
US87-1046401
Jurisdiction
RICHMOND CITY
Zoning & alternative use
M-1 LIGHT INDUSTRIAL · Richmond, VAZoning 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
Source
code of ordinances
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$3.4M
AUTO REPAIR, GARAGE
Est. value
$6.0M
MEDICAL BUILDING
Est. value
$5.5M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$5.4M
COMMERCIAL (GENERAL)
Est. value
$5.2M
OFFICE BUILDING
Est. value
$4.9M
INDUSTRIAL (GENERAL) Current
AUTO REPAIR, GARAGE
MEDICAL BUILDING
NEIGHBORHOOD: SHOPPING CENTER
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
1984
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
Yes
Stories
1
Buildings
2
Lot
6.4 ac
Current owner
From public records · entity-resolved
Ibp LP
Entity
Free & Clear · 2 yrs held
Mailing address
8229 HERMITAGE RD, RICHMOND, VA 23228-3031
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
Jan 2, 2024
—
Ibp LP
Sherman Hubert Company LLC
Deed
—
Apr 29, 2021
$7,700,000
Sherman Hubert Company LLC
Ibp Property LLC
Special Warranty Deed
$6,545,000 · Townebank
Jan 16, 2018
$4,850,000
Ibp Property LLC A Virginia Limited
I B P Lc A Virginia Limited Liabili
Warranty Deed
$4,500,000 · Langley Federal Credit Union
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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