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Property profile & analytics
FOR LEASE
Office Spaces
419-457 E Main St Richmond, VA 23219
Individually Owned
~
Est. High Equity
Property ID
US87-0288249
For Lease
1 / 2
$2,900,000
419-457 E Main St, Richmond, VA 23219
View Listing →
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
1951
Construction
TYPE NOT SPECIFIED
Total area
15,717 SF
Lot
0.35 ac (15,395 SF)
Zoning code
B-4 CENTRAL BUSINESS
APN
W-000-0022-005
UPID
US87-0288249
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
-
Metro Productions Film Production Television Studio
-
Overcoast: Music + Sound Recording Studio
-
Hearing At Home Mobile Hearing Center Hearing Aid Store Audiologist
-
Mobitech Electronics & Wireless Store Computer & Electronic Repair
-
Bendahl Valley HOA Association / Organization
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$3.02M
Comparable Approach
Comparable
$2.19M
Blend (final)
Blend
$2.90M
Owner & transaction history
Phuong V Nguyen
Phuong V Nguyen
since 2026
Last sale
$3.2M
3 recorded transactions
Zoning & alternative use
B-4 CENTRAL BUSINESS · Richmond, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$4.4M
+138.8%
Auto repair, garage
$2.9M
+54.5%
Medical building
$2.6M
+41.3%
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%
$3,270,000
6.5%
$3,020,000
7%
$2,805,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$1,850,000
Current use
RESTAURANT
$4,425,000
Change: +139% · Conversion: Difficult
AUTO REPAIR, GARAGE
$2,865,000
Change: +55% · Conversion: Difficult
MEDICAL BUILDING
$2,620,000
Change: +41% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$2,580,000
Change: +39% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$2,525,000
Change: +36% · Conversion: Moderate
OFFICE BUILDING
$2,325,000
Change: +25% · Conversion: Easy
RETAIL STORES
$2,265,000
Change: +22% · Conversion: Easy
Blend value · Realmo final
$2.90M
Range $2.61M – $3.19M · ±10% · vs last sale $3.20M (Feb 23 2026)
Last sale anchor
$3.20M
Feb 23 2026
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
$185 / 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
$2,450,000
Assessed 2024
Previous assessed
$2,450,000
+0.0% YoY
Effective rate
0.00%
On assessed value
Assessed land
$687,000
Assessed improvement
$1,763,000
Land market value
$687,000
Improvement market value
$1,763,000
Total market value
$2,450,000
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 Spaces
Use group
OFFICE (GENERAL)
Status
For Lease
Year built
1951
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
YES
Stories
2
Bathrooms
3
Total area
15,717 SF
Lot
0.35 ac (15,395 SF)
Zoning code
B-4 CENTRAL BUSINESS
APN
W-000-0022-005
UPID
US87-0288249
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
COMMERCIAL (GENERAL) Current
Est. value
$1.9M
RESTAURANT
Est. value
$4.4M
AUTO REPAIR, GARAGE
Est. value
$2.9M
MEDICAL BUILDING
Est. value
$2.6M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.6M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.5M
OFFICE BUILDING
Est. value
$2.3M
RETAIL STORES
Est. value
$2.3M
COMMERCIAL (GENERAL) Current
RESTAURANT
AUTO REPAIR, GARAGE
MEDICAL BUILDING
NEIGHBORHOOD: SHOPPING CENTER
APARTMENT HOUSE (5+ UNITS)
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
1951
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
Yes
Stories
2
Bathrooms
3
Lot
0.35 ac
Current owner
From public records · entity-resolved
Phuong V Nguyen
Individual
Mailing address
409 E MAIN ST STE #301, RICHMOND, VA 23219-3845
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2026
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
Feb 23, 2026
$3,195,000
Phuong V Nguyen
Progress Dodson LLC
Special Warranty Deed
$2,445,500 · First Citizens Bank & Trust Co
Oct 29, 2019
—
Progress Dodson LLC
—
Trustees Deed
related
$2,650,000 · Virginia Cu
Aug 16, 2013
$1,020,000
Progress Dodson LLC
Hemner Enterprises INC
Special Warranty Deed
$1,782,000 · Union First 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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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