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Property profile & analytics
OFF-MARKET
Estimated value
$9,880,000
Retail residential properties
423 18th St Richmond, VA 23223-6321
Entity Owned
15-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US87-0977132
Property profile
Verified
Property type
Retail residential properties
Use group
STORES & APARTMENTS
Year built
2012
Construction
TYPE NOT SPECIFIED
Total area
59,205 SF
Lot
1.03 ac (44,693 SF)
Zoning code
B-5 CENTRAL BUSINESS
APN
E-000-0285-020
UPID
US87-0977132
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
-
Pie314 RVA Restaurant
-
Lower 48 by Malcolm Mitchell Restaurant
-
Global Business Ventures, LLC Business Management Consultant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$11.38M
Comparable Approach
Comparable
$10.63M
Blend (final)
Blend
$9.88M
Owner & transaction history
Cold Storage IV LP · 15 yrs held
Cold Storage IV LP
since 2011
4 recorded transactions
Zoning & alternative use
B-5 CENTRAL BUSINESS · Richmond, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$10.8M
+52.1%
Medical building
$9.9M
+39.1%
Neighborhood: shopping center
$9.7M
+37.2%
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%
$12,320,000
6.5%
$11,375,000
7%
$10,560,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$7,090,000
Current use
AUTO REPAIR, GARAGE
$10,785,000
Change: +52% · Conversion: Difficult
MEDICAL BUILDING
$9,860,000
Change: +39% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$9,725,000
Change: +37% · Conversion: Difficult
OFFICE BUILDING
$8,755,000
Change: +23% · Conversion: Easy
RETAIL STORES
$8,530,000
Change: +20% · Conversion: Easy
INDUSTRIAL (GENERAL)
$6,100,000
Change: -14% · Conversion: Moderate
Blend value · Realmo final
$9.88M
Range $8.89M – $10.87M · ±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
$167 / 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
$12,518,000
Assessed 2024
Previous assessed
$12,518,000
+0.0% YoY
Effective rate
0.00%
On assessed value
Assessed land
$1,317,000
Assessed improvement
$11,201,000
Land market value
$1,317,000
Improvement market value
$11,201,000
Total market value
$12,518,000
Applied tax rate
7.0000
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
Retail residential properties
Use group
STORES & APARTMENTS
Status
Off-Market
Year built
2012
Construction
TYPE NOT SPECIFIED
Heating
YES
Stories
5
Units
85
Bathrooms
3
Total area
59,205 SF
Lot
1.03 ac (44,693 SF)
Zoning code
B-5 CENTRAL BUSINESS
APN
E-000-0285-020
UPID
US87-0977132
Jurisdiction
RICHMOND CITY
Zoning & alternative use
B-5 CENTRAL BUSINESS · Richmond, VA
Zoning B-5 CENTRAL BUSINESS · permitted uses
B-5 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
$7.1M
AUTO REPAIR, GARAGE
Est. value
$10.8M
MEDICAL BUILDING
Est. value
$9.9M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$9.7M
OFFICE BUILDING
Est. value
$8.8M
RETAIL STORES
Est. value
$8.5M
INDUSTRIAL (GENERAL)
Est. value
$6.1M
COMMERCIAL (GENERAL) Current
AUTO REPAIR, GARAGE
MEDICAL BUILDING
NEIGHBORHOOD: SHOPPING CENTER
OFFICE BUILDING
RETAIL STORES
INDUSTRIAL (GENERAL)
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
2012
Construction
TYPE NOT SPECIFIED
Heating
YES
Stories
5
Units
85
Bathrooms
3
Lot
1.03 ac
Current owner
From public records · entity-resolved
Cold Storage IV LP
Entity
Mailing address
1553 E MAIN ST, RICHMOND, VA 23219-3633
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2011
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 28, 2019
—
Grace L Harrison
—
Deed
related
$90,000 · Branch Banking & Tr Co
Jan 20, 2011
—
Cold Storage IV LP
Foundation LLC
Grant Deed
$11,900,000 · Manufacturers Trade & Tr
—
—
Grace L Harrison
—
Deed Of Trust
related
$90,000 · Branch Banking & Tr Co
—
—
Foundation LLC
—
Deed Of Trust
related
$3,700,000 · First Cmnty Bk/las Cruces
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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