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Property profile & analytics
OFF-MARKET
Estimated value
$2,550,000
Grocery and convenience stores
3606 9th Mile Rd Richmond, VA 23223-4812
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US87-3964657
Property profile
Verified
Property type
Grocery and convenience stores
Use group
CONVENIENCE STORE
Year built
1990
Total area
3,040 SF
Lot
1.4 ac (60,984 SF)
Zoning code
B-2
APN
804-723-9656
UPID
US87-3964657
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
-
bp Gas Station
-
Subway Take-out & Catering Catering Service
-
Exxon Nine Mile Gas Station
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.55M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.55M
Owner & transaction history
Richmond Petroleum Ventures LLC · 2 yrs held
Richmond Petroleum Ventures LLC
since 2024
Last sale
$2.6M
3 recorded transactions
Zoning & alternative use
B-2 · Richmond, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
Screening regulations in the B-2 Community Business District shall be as follows: (1) Where a side lot line abuts property in an R district, there shall be a continuous evergreen vegetative screen not less than 31⁄2 feet in height at the time of installation or opaque structural fence or wall not less than four feet in height erected along such lot line, but…
Zone name
Community Business District
General category
COMMERCIAL
Zone area
425.37 ac
Source
code of ordinances
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
$2,550,000
ML approach
$2,550,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$2.55M
Range $2.30M – $2.81M · ±10% · vs last sale $2.55M (Apr 18 2024)
Last sale anchor
$2.55M
Apr 18 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
$839 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$5,419
Tax year 2023
Assessed value
$637,500
Assessed 2024
Previous assessed
$637,500
+0.0% YoY
Effective rate
0.85%
On assessed value
Assessed land
$183,000
Assessed improvement
$454,500
Land market value
$183,000
Improvement market value
$454,500
Total market value
$637,500
Applied tax rate
5.0000
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
Grocery and convenience stores
Use group
CONVENIENCE STORE
Status
Off-Market
Year built
1990
Heating
HEAT PUMP
Stories
1
Total area
3,040 SF
Lot
1.4 ac (60,984 SF)
Zoning code
B-2
APN
804-723-9656
UPID
US87-3964657
Jurisdiction
HENRICO
Zoning & alternative use
B-2 · Richmond, VAZoning B-2 · permitted uses
B-2 · Richmond, VA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
Screening regulations in the B-2 Community Business District shall be as follows: (1) Where a side lot line abuts property in an R district, there shall be a continuous evergreen vegetative screen not less than 31⁄2 feet in height at the time of installation or opaque structural fence or wall not less than four feet in height erected along such lot line, but not within 15 feet of any street line. Evergreen vegetative material intended to satisfy this subsection shall be planted at such intervals that will result in a continuous visual screen within one year of planting. (2) Where a use prohibited on a transitional site is situated across an alley from the side lot line of property in an R district, there shall be an opaque structural fence or wall not less than four feet in height erected along the alley line, but not within 15 feet of any street line. (3) Screening of parking areas and refuse areas shall be provided as set forth in Sections 30-660 and 30-710.12 . (Code 1993, § 32-436.4; Code 2004, § 114-436.4; Code 2015, § 30-436.4)
Zone name
Community Business District
General category
COMMERCIAL
Zone area
425.37 ac
Source
code of ordinances
Building & site characteristics
From public records
Year built
1990
Heating
HEAT PUMP
Stories
1
Lot
1.4 ac
Current owner
From public records · entity-resolved
Richmond Petroleum Ventures LLC
Entity
Mailing address
3606 9TH MILE RD, RICHMOND, VA 23223-4812
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
Apr 18, 2024
$2,550,000
Richmond Petroleum Ventures LLC
Shree Hari Investments LLC
Warranty Deed
$1,954,236 · Chesapeake Bank
Jan 10, 2006
$1,500,000
Shree Hari Invest LLC
Prasham LLC
Grant Deed
$1,125,000 · Bank Of America
—
—
Prasham LLC
—
Deed Of Trust
related
$65,000 · Woodfin Heating INC
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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