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Property profile & analytics
OFF-MARKET
Estimated value
$10,210,000
Hotels
3950 Westerre Pkwy Henrico, VA 23233-1303
Entity Owned
3-yr Hold
Free & Clear
Property ID
US87-1328636
Property profile
Verified
Property type
Hotels
Use group
HOTEL/MOTEL
Year built
1998
Total area
81,950 SF
Lot
3.11 ac (135,297 SF)
Zoning code
B-2C
APN
750-759-1977
UPID
US87-1328636
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
-
Isalis (Bike/Boat/Book/etc) Store
-
Party City Party Supply Store (Bike/Boat/Book/etc) Store
-
Skunk Funk Big Box & Wholesale Store
-
Carl's Trading Co Hat Shop
-
Bushka's Kitchen LLC (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$8.62M
CAP Approach
CAP
$6.43M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$10.21M
Owner & transaction history
Westerre Hotel LLC · 3 yrs held
Westerre Hotel LLC
since 2023
Last sale
$11.3M
2 recorded transactions
Zoning & alternative use
B-2C · Henrico, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$9.5M
+471.0%
Industrial (general)
$8.6M
+413.9%
Restaurant
$8.4M
+402.7%
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 Henrico submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Henrico 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
$9,730,000
ML approach
$8,615,000
CAP Approach
CAP Return
Estimation
6%
$6,960,000
6.5%
$6,425,000
7%
$5,965,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$9,535,000
Change: +471% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$8,585,000
Change: +414% · Conversion: Difficult
RESTAURANT
$8,395,000
Change: +403% · Conversion: Difficult
AUTO REPAIR, GARAGE
$7,190,000
Change: +331% · Conversion: Difficult
Blend value · Realmo final
$10.21M
Range $9.19M – $11.23M · ±10% · vs last sale $11.25M (Mar 27 2023)
Last sale anchor
$11.25M
Mar 27 2023
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
$125 / 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
$57,265
Tax year 2023
Assessed value
$6,737,100
Assessed 2024
Previous assessed
$6,737,100
+0.0% YoY
Effective rate
0.85%
On assessed value
Assessed land
$947,000
Assessed improvement
$5,790,100
Land market value
$947,000
Improvement market value
$5,790,100
Total market value
$6,737,100
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
Hotels
Use group
HOTEL/MOTEL
Status
Off-Market
Year built
1998
Heating
HEAT PUMP
Stories
4
Total area
81,950 SF
Lot
3.11 ac (135,297 SF)
Zoning code
B-2C
APN
750-759-1977
UPID
US87-1328636
Jurisdiction
HENRICO
Zoning & alternative use
B-2C · Henrico, VA
Zoning B-2C · permitted uses
B-2C · Henrico, VA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Henrico. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING
Est. value
$9.5M
INDUSTRIAL (GENERAL)
Est. value
$8.6M
RESTAURANT
Est. value
$8.4M
AUTO REPAIR, GARAGE
Est. value
$7.2M
OFFICE BUILDING
INDUSTRIAL (GENERAL)
RESTAURANT
AUTO REPAIR, GARAGE
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
1998
Heating
HEAT PUMP
Stories
4
Lot
3.11 ac
Current owner
From public records · entity-resolved
Westerre Hotel LLC
Entity
Free & Clear · 3 yrs held
Mailing address
SAN ANTONIO, TX 78269
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 27, 2023
$11,250,000
Westerre Hotel LLC
Sb Hcp Henrico I LLC
Special Warranty Deed
—
Mar 7, 2023
$10,000,000
Sb-hcp Henrico I LLC
Hptmi Properties Trust
Special Warranty Deed
—
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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