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    Property profile & analytics

    4231 Park Pl Ct Glen Allen, VA 23060-3315

    • Hotels
    • 52,861 SF
    • 2.79 lot acres
    OFF-MARKET
    Last Sale
    Nov 23, 2020
    $3,386,459
    Value Estimations
    $3,595,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US87-1294346
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Extended Stay America - Richmond - Glen Allen - Short Pump / Hotel & Motel / Vacation Rental
    • 4231 Park Place Court Parking / Parking Lot & Garage

    Property Details for 4231 Park Pl Ct

    Year built
    1999
    Lot size
    2.79 lot acres
    Property size
    52,861 SF
    Zone code
    O-3C
    Property type
    Hotels
    Property subtype
    Motels
    APN
    749-762-7563
    APU
    7497627563

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $3,680,000
      ML approach
      $3,930,000

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $4,955,000
      RESTAURANT
      $4,590,000
      AUTO REPAIR, GARAGE
      $4,100,000
      INDUSTRIAL (GENERAL)
      $3,740,000
      MEDICAL BUILDING
      $2,350,000
      NEIGHBORHOOD: SHOPPING CENTER
      $2,300,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Glen Allen
    County
    Henrico
    State
    Virginia
    Longitude
    -77.5782
    Latitude
    37.6529
    CBSA code
    40060
    CBSA name
    RICHMOND, VA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $37,577
    $637,100
    $3,890,300
    $4,527,400
    -
    $637,100
    $3,890,300
    $4,527,400

    Comparable in this City

    • Value Estimation
      $1,455,000
      95,863 SF

      4050 Cox Rd

      HOTEL/MOTEL • 95,863 SF
      4050 Cox Rd, Glen Allen, VA 23060-3396
      View Details
    • Value Estimation
      $11,755,000
      71,580 SF

      4100 Cox Rd

      HOTEL/MOTEL • 71,580 SF
      4100 Cox Rd, Glen Allen, VA 23060-3316
      View Details
    • Value Estimation
      $6,225,000
      35,955 SF

      8607 Telegraph Rd

      HOTEL/MOTEL • 35,955 SF
      8607 Telegraph Rd, Glen Allen, VA 23060
      View Details
    • Value Estimation
      $1,130,000
      73,232 SF

      4051 Innslake Dr

      HOTEL/MOTEL • 73,232 SF
      4051 Innslake Dr, Glen Allen, VA 23060-3343
      View Details
    • Value Estimation
      $1,010,000
      70,403 SF

      10800 Broad St

      HOTEL/MOTEL • 70,403 SF
      10800 Broad St, Glen Allen, VA 23060-3366
      View Details
    • Value Estimation
      $2,340,000
      154,014 SF

      4240 Dominion Blvd

      HOTEL/MOTEL • 154,014 SF
      4240 Dominion Blvd, Glen Allen, VA 23060-3391
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      85,820 SF

      Manufacturing Warehouse with Crane Access

      44,015 SF manufacturing warehouse with cranes and outside storage.
      10780 Old Washington Hwy, Glen Allen, VA 23060
      View Details
    • New
      $185,000
      0.43 Acres

      Vacant Lot in Mountain Run

      Corner lot with sheds and paved driveway, no HOA.
      2137 Mountain Run Dr, Henrico, VA 23060
      View Details
    • Contact for pricing
      19,355 SF

      Innsbrook Corporate Park Office Building

      19,355 SF office building in Innsbrook Corporate Park.
      4194-4196 Innslake Dr, Glen Allen, VA 23060
      View Details
    • $575,000
      3.68 Acres

      Glen Allen Commercial Land Available

      3.67 acres of commercial land for sale in Glen Allen.
      3002 Mountain Rd, Glen Allen, VA 23060
      View Details
    • $1,200,000
      1.25 Acres

      Short Pump Retail Land Investment

      1.25-Acre Developable Retail Tract
      4260 Pouncey Tract Rd, Glen Allen, VA 23060
      View Details
    • Contact for pricing
      0.12 Acres

      Residential Lot in Glen Allen

      0.12 acre lot zoned R-2A in Glen Allen, VA
      10628 W Broad St, Glen Allen, VA 23060
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,410 SF

      Glen Allen Office Space Available

      Office space in Innsbrook Corporate Center with lakeside views.
      4991 Lake Brook Dr, Glen Allen, VA 23060
      View Details
    • Contact for pricing
      2,029 SF

      Freestanding Office Building For Rent

      Single-story Class A office building with convenient parking and signage.
      4202 Park Place Ct, Glen Allen, VA 23060
      View Details
    • Contact for pricing
      12,493 SF

      Glen Allen Office Space Available

      Office space for rent in Glen Allen, Virginia.
      4200 Innslake Dr, Glen Allen, VA 23060
      View Details
    • Contact for pricing
      5,000 SF

      Office/Medical Build-To-Suit Opportunity

      5,000 SF office/medical space for rent, build-to-suit.
      Brook Rd, Glen Allen, VA 23060
      View Details
    • Contact for pricing
      5,673 SF

      Retail Space in Glen Allen

      Retail space available in a Publix-anchored shopping center.
      10208-10238 Staples Mill Rd, Glen Allen, VA 23060
      View Details
    • Contact for pricing
      3,227 SF

      Glen Allen Office Space Available

      Office space available for rent in Glen Allen, Virginia.
      9007 Brook Rd, Glen Allen, VA 23060
      View Details
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    Glen Allen, VA 23060-3315
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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