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Property profile & analytics
OFF-MARKET
Estimated value
$2,545,000
Apartment buildings
3700 Delmont St Richmond, VA 23222-2066
Entity Owned
Absentee Owner
Free & Clear
Property ID
US87-2371350
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
2006
Construction
WOOD
Total area
24,516 SF
Lot
1.19 ac (51,924 SF)
Zoning code
R-48 MULTI FAMILY
APN
N-000-1650-006
UPID
US87-2371350
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.55M
Owner & transaction history
DELMONT ASSOCIATES
DELMONT ASSOCIATES
Zoning & alternative use
R-48 MULTI FAMILY · Richmond, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$4.1M
+3.6%
Neighborhood: shopping center
$4.0M
+2.2%
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
APARTMENT HOUSE (5+ UNITS)
$3,940,000
Current use
MEDICAL BUILDING
$4,085,000
Change: +4% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$4,030,000
Change: +2% · Conversion: Difficult
COMMERCIAL (GENERAL)
$3,870,000
Change: -2% · Conversion: Moderate
OFFICE BUILDING
$3,625,000
Change: -8% · Conversion: Moderate
RETAIL STORES
$3,530,000
Change: -10% · Conversion: Difficult
Blend value · Realmo final
$2.55M
Range $2.29M – $2.80M · ±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
$104 / 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
$29,328
Tax year 2020
Assessed value
$2,444,000
Assessed 2024
Previous assessed
$2,157,000
+13.3% YoY
Effective rate
1.20%
On assessed value
Assessed land
$173,000
Assessed improvement
$2,271,000
Land market value
$173,000
Improvement market value
$2,271,000
Total market value
$2,444,000
Applied tax rate
3.0000
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
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Status
Off-Market
Year built
2006
Construction
WOOD
Heating
NONE
Stories
2
Units
24
Total area
24,516 SF
Lot
1.19 ac (51,924 SF)
Zoning code
R-48 MULTI FAMILY
APN
N-000-1650-006
UPID
US87-2371350
Jurisdiction
RICHMOND CITY
Zoning & alternative use
R-48 MULTI FAMILY · Richmond, VA
Zoning R-48 MULTI FAMILY · permitted uses
R-48 MULTI FAMILY · 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
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$3.9M
MEDICAL BUILDING
Est. value
$4.1M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$4.0M
COMMERCIAL (GENERAL)
Est. value
$3.9M
OFFICE BUILDING
Est. value
$3.6M
RETAIL STORES
Est. value
$3.5M
APARTMENT HOUSE (5+ UNITS) Current
MEDICAL BUILDING
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
2006
Construction
WOOD
Heating
NONE
Stories
2
Units
24
Lot
1.19 ac
Current owner
From public records · entity-resolved
DELMONT ASSOCIATES
Individual
Free & Clear · 0 yrs held
Mailing address
525 S INDEPENDENCE BLVD STE #200, VIRGINIA BEACH, VA 23452-1189
Mailing matches property
Different — outreach signal
Owner-occupied
No
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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