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Property profile & analytics
OFF-MARKET
Estimated value
$995,000
Office buildings
408 Franklin St Richmond, VA 23220-4906
Individually Owned
13-yr Hold
Free & Clear
Property ID
US87-0078914
Property profile
Verified
Property type
Office buildings
Use group
PROFESSIONAL BUILDING
Year built
1900
Construction
TYPE NOT SPECIFIED
Total area
8,814 SF
Lot
0.15 ac (6,416 SF)
Zoning code
R-03 RESIDENTIAL OFFICE
APN
W-000-0214-022
UPID
US87-0078914
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
-
CXI Corporation Engineering Consultant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$680k
Blend (final)
Blend
$995k
Owner & transaction history
Commonwealth Of Va · 13 yrs held
Commonwealth Of Va
since 2012
3 recorded transactions
Zoning & alternative use
R-03 RESIDENTIAL OFFICE · Richmond, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
Blend value · Realmo final
$995k
Range $896k – $1.09M · ±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
$113 / 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
$18,492
Tax year 2020
Assessed value
$1,541,000
Assessed 2024
Previous assessed
$1,541,000
+0.0% YoY
Effective rate
1.20%
On assessed value
Assessed land
$354,000
Assessed improvement
$1,187,000
Land market value
$354,000
Improvement market value
$1,187,000
Total market value
$1,541,000
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
Office buildings
Use group
PROFESSIONAL BUILDING
Status
Off-Market
Year built
1900
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
YES
Stories
3
Rooms
42
Bathrooms
4
Total area
8,814 SF
Lot
0.15 ac (6,416 SF)
Zoning code
R-03 RESIDENTIAL OFFICE
APN
W-000-0214-022
UPID
US87-0078914
Jurisdiction
RICHMOND CITY
Zoning & alternative use
R-03 RESIDENTIAL OFFICE · Richmond, VA
Zoning R-03 RESIDENTIAL OFFICE · permitted uses
R-03 RESIDENTIAL OFFICE · 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.
Building & site characteristics
From public records
Year built
1900
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
Yes
Stories
3
Rooms
42
Bathrooms
4
Lot
0.15 ac
Current owner
From public records · entity-resolved
Commonwealth Of Va
Individual
Free & Clear · 13 yrs held
Mailing address
PO BOX 843040, RICHMOND, VA 23284-3040
Ownership since
2012
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
Nov 7, 2012
$1,067,500
Commonwealth Of Va
Jrs Properties LLC
Grant Deed
—
Oct 19, 2005
$950,000
J R S Properties
B & G Holdings
Warranty Deed
$950,000 · Bank Of America
Jul 25, 2003
$525,000
B Holdings
Charles Bice Mtg Svcs In
Grant Deed
related
$637,000 · 1st Market Bank
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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