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Property profile & analytics
OFF-MARKET
Estimated value
$830,000
Office buildings
404 Grace St Richmond, VA 23219-1838
Entity Owned
11-yr Hold
~
Est. High Equity
Property ID
US87-1257738
Property summary
AI-generated overview
This exceptional 2,000-square-foot creative office space is located in Richmond, Virginia's vibrant Arts District at 404 E Grace St, zip code 23219. Situated on the second floor of a three-story building (APN: W0000025022), this single-tenant space is move-in ready. The property is zoned B-4 and offers a unique blend of historic charm and modern functionality. Large windows flood the space with natural light, creating an inspiring and collaborative environment perfect for creative businesses or startups. The meticulously renovated interior features multiple areas designed to foster teamwork and innovation. This is an excellent opportunity to establish a presence in a thriving arts community. The building itself is historically significant, adding character and appeal to this already impressive workspace. Don't miss this chance to secure a prime location in the heart of Richmond's artistic hub. This is a single-tenant occupancy in a one-building complex.
Property profile
Verified
Property type
Office buildings
Use group
PROFESSIONAL BUILDING
Year built
1922
Construction
TYPE NOT SPECIFIED
Total area
6,264 SF
Lot
0.05 ac (2,086 SF)
Zoning code
B-4 CENTRAL BUSINESS
APN
W-000-0025-022
UPID
US87-1257738
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
-
Visual Chefs Marketing & Advertising (Bike/Boat/Book/etc) Store
-
Foster Made (Bike/Boat/Book/etc) Store Corporate Office
-
TMI Portfolio Holding Company Service Establishment
-
TMI Consulting, Inc. Service Establishment Consultant
-
Loom Technologies (Bike/Boat/Book/etc) Store Corporate 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
$830k
Owner & transaction history
Maida Ents LLC · 11 yrs held
Maida Ents LLC
since 2014
1 recorded transaction
Zoning & alternative use
B-4 CENTRAL BUSINESS · Richmond, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.1M
+23.2%
Medical building
$1.0M
+12.6%
Neighborhood: shopping center
$1.0M
+11.1%
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
OFFICE BUILDING
$925,000
Current use
AUTO REPAIR, GARAGE
$1,140,000
Change: +23% · Conversion: Difficult
MEDICAL BUILDING
$1,045,000
Change: +13% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$1,030,000
Change: +11% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$1,005,000
Change: +9% · Conversion: Easy
RETAIL STORES
$900,000
Change: -3% · Conversion: Moderate
Blend value · Realmo final
$830k
Range $747k – $913k · ±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
$133 / 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
$1,450,000
Assessed 2024
Previous assessed
$1,450,000
+0.0% YoY
Effective rate
0.00%
On assessed value
Assessed land
$142,000
Assessed improvement
$1,308,000
Land market value
$142,000
Improvement market value
$1,308,000
Total market value
$1,450,000
Applied tax rate
6.0000
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
Office buildings
Use group
PROFESSIONAL BUILDING
Status
Off-Market
Year built
1922
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
YES
Stories
3
Bathrooms
1
Total area
6,264 SF
Lot
0.05 ac (2,086 SF)
Zoning code
B-4 CENTRAL BUSINESS
APN
W-000-0025-022
UPID
US87-1257738
Jurisdiction
RICHMOND CITY
Zoning & alternative use
B-4 CENTRAL BUSINESS · Richmond, VA
Zoning B-4 CENTRAL BUSINESS · permitted uses
B-4 CENTRAL BUSINESS · 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
OFFICE BUILDING Current
Est. value
$925,000
AUTO REPAIR, GARAGE
Est. value
$1.1M
MEDICAL BUILDING
Est. value
$1.0M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.0M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.0M
RETAIL STORES
Est. value
$900,000
OFFICE BUILDING Current
AUTO REPAIR, GARAGE
MEDICAL BUILDING
NEIGHBORHOOD: SHOPPING CENTER
APARTMENT HOUSE (5+ UNITS)
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
1922
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
Yes
Stories
3
Bathrooms
1
Lot
0.05 ac
Current owner
From public records · entity-resolved
Maida Ents LLC
Entity
Mailing address
1206 N 23RD ST, RICHMOND, VA 23223-5134
Ownership since
2014
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 8, 2014
$242,500
Maida Ents LLC
Richmond Ents INC
Grant Deed
$579,700 · Branch Bk&tr
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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