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Property profile & analytics
OFF-MARKET
Estimated value
$580,000
Medical Office Space
3603 Grv Ave Richmond, VA 23221-2201
Entity Owned
9-yr Hold
~
Est. High Equity
Property ID
US87-1011073
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL CLINIC
Year built
1955
Construction
TYPE NOT SPECIFIED
Total area
4,239 SF
Lot
0.32 ac (13,859 SF)
Zoning code
R-02 RESIDENTIAL OFFICE
APN
W-000-1655-001
UPID
US87-1011073
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
-
Dentists on Grove Avenue Dental Office
-
Dr. James R. Heywood, MD Pediatrician Medical Clinic
-
Dr. Mary E. Harrison, MD Pediatrician Medical Clinic
-
Paul Sunghoon Chung Dental Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$580k
Owner & transaction history
Rva Landing LLC · 9 yrs held
Rva Landing LLC
since 2017
5 recorded transactions
Zoning & alternative use
R-02 RESIDENTIAL OFFICE · Richmond, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$770,000
+9.3%
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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MEDICAL BUILDING
$705,000
Current use
AUTO REPAIR, GARAGE
$770,000
Change: +9% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$695,000
Change: -1% · Conversion: Difficult
COMMERCIAL (GENERAL)
$670,000
Change: -5% · Conversion: Easy
OFFICE BUILDING
$625,000
Change: -11% · Conversion: Easy
RETAIL STORES
$610,000
Change: -14% · Conversion: Difficult
Blend value · Realmo final
$580k
Range $522k – $638k · ±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
$137 / 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
$1,039,000
Assessed 2024
Previous assessed
$909,000
+14.3% YoY
Effective rate
0.00%
On assessed value
Assessed land
$650,000
Assessed improvement
$389,000
Land market value
$650,000
Improvement market value
$389,000
Total market value
$1,039,000
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
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
Medical Office Space
Use group
MEDICAL CLINIC
Status
Off-Market
Year built
1955
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
YES
Stories
1
Total area
4,239 SF
Lot
0.32 ac (13,859 SF)
Zoning code
R-02 RESIDENTIAL OFFICE
APN
W-000-1655-001
UPID
US87-1011073
Jurisdiction
RICHMOND CITY
Zoning & alternative use
R-02 RESIDENTIAL OFFICE · Richmond, VA
Zoning R-02 RESIDENTIAL OFFICE · permitted uses
R-02 RESIDENTIAL OFFICE · 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
MEDICAL BUILDING Current
Est. value
$705,000
AUTO REPAIR, GARAGE
Est. value
$770,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$695,000
COMMERCIAL (GENERAL)
Est. value
$670,000
OFFICE BUILDING
Est. value
$625,000
RETAIL STORES
Est. value
$610,000
MEDICAL BUILDING Current
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
COMMERCIAL (GENERAL)
OFFICE BUILDING
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
1955
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
Yes
Stories
1
Lot
0.32 ac
Current owner
From public records · entity-resolved
Rva Landing LLC
Entity
Mailing address
12210 FAIRFAX TOWNE CTR #45, FAIRFAX, VA 22033-2877
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 14, 2020
—
Mopar LLC
—
Deed
related
$2,047,700 · Virginia Nat'l Bk
Nov 3, 2017
—
Rva Landing LLC
—
Deed
related
$866,000 · Fidelity Bk
Jun 21, 2017
$600,000
Rva Landing LLC
Earle,jaent B L
Grant Deed
$480,000 · Towne Bk
—
—
Mopar LLC
—
Deed Of Trust
related
$2,047,700 · Virginia Nat'l Bk
—
—
Rva Landing LLC
—
Deed Of Trust
related
$866,000 · Fidelity Bk
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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