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Property profile & analytics
OFF-MARKET
Estimated value
$4,365,000
Manufacturing properties
3703 Carolina Ave Richmond, VA 23222-2201
Entity Owned
Absentee Owner
~
Est. High Equity
Property ID
US87-1150398
Property profile
Verified
Property type
Manufacturing properties
Use group
HEAVY MANUFACTURING
Year built
1968
Total area
49,200 SF
Lot
2.64 ac (115,086 SF)
Zoning code
M-1
APN
797-736-6692
UPID
US87-1150398
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
-
Wholesale Millwork Richmond Big Box & Wholesale Store Building Supply
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$4.80M
Comparable Approach
Comparable
$5.76M
Blend (final)
Blend
$4.37M
Owner & transaction history
1002 Obici Industrial Boulevard LLC
1002 Obici Industrial Boulevard LLC
since 2025
Last sale
$4.1M
5 recorded transactions
Zoning & alternative use
M-1 · Richmond, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
Screening regulations in the M-1 Light Industrial District shall be as follows: (1) Where a side lot line abuts a property in an R district, there shall be a continuous evergreen vegetative screen or opaque structural fence or wall not less than six feet in height erected along such lot line, but not within 15 feet of any street line. Evergreen vegetative ma…
Zone name
Light Industrial District
General category
INDUSTRIAL
Zone area
2,590.31 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$5,200,000
6.5%
$4,800,000
7%
$4,455,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$5,070,000
Current use
Blend value · Realmo final
$4.37M
Range $3.93M – $4.80M · ±10% · vs last sale $4.05M (Dec 23 2025)
Last sale anchor
$4.05M
Dec 23 2025
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
$89 / 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 2024Property tax & assessments
Tax year 2024
Tax billed
$17,999
Tax year 2024
Assessed value
$2,014,800
Assessed 2024
Previous assessed
$2,014,800
+0.0% YoY
Effective rate
0.89%
On assessed value
Assessed land
$158,400
Assessed improvement
$1,856,400
Land market value
$158,400
Improvement market value
$1,856,400
Total market value
$2,014,800
Applied tax rate
4.0000
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
Manufacturing properties
Use group
HEAVY MANUFACTURING
Status
Off-Market
Year built
1968
Heating
SPACE
Cooling
AC.PACKAGE
Stories
1
Total area
49,200 SF
Lot
2.64 ac (115,086 SF)
Zoning code
M-1
APN
797-736-6692
UPID
US87-1150398
Jurisdiction
HENRICO
Zoning & alternative use
M-1 · Richmond, VAZoning M-1 · permitted uses
M-1 · 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 M-1 Light Industrial District shall be as follows: (1) Where a side lot line abuts a property in an R district, there shall be a continuous evergreen vegetative screen or opaque structural fence or wall not less than six 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 of the specified height at the time of installation and shall be planted at such intervals that will result in a continuous visual screen within one year of planting. (2) Screening of parking areas and refuse areas shall be provided as set forth in Sections 30-660 and 30-710.12 . (Code 1993, § 32-452.3; Code 2004, § 114-452.3; Code 2015, § 30-452.3)
Zone name
Light Industrial District
General category
INDUSTRIAL
Zone area
2,590.31 ac
Source
code of ordinances
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$5.1M
INDUSTRIAL (GENERAL) Current
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
1968
Heating
SPACE
Cooling
Yes
Stories
1
Lot
2.64 ac
Current owner
From public records · entity-resolved
1002 Obici Industrial Boulevard LLC
Entity
Mailing address
1752 JEWEL BOX DR, SANIBEL, FL 33957-3416
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2025
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
Dec 23, 2025
$4,050,000
1002 Obici Industrial Boulevard LLC
Teton Sales INC
Deed
$2,460,000 · Atlantic Union Bank
Jun 17, 2025
—
Teton Sales INC
—
Deed
related
$1,500,000 · Fulton Bank NA
Dec 21, 2011
—
Teton Sales INC
—
Deed Of Trust
related
$1,064,800 · Manufacturers Traders & Trust
Nov 17, 2011
$1,040,000
Teton Sales INC
Nam Lc
Grant Deed
—
—
—
Nam LLC
—
Deed Of Trust
related
$825,000 · Branch Banking & Trust Co Va
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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