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Property profile & analytics
OFF-MARKET
Estimated value
$14,820,000
Office buildings
500 10th St Richmond, VA 23219-1518
Entity Owned
Free & Clear
Property ID
US87-0959790
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1954
Construction
STONE
Total area
147,399 SF
Lot
9.04 ac (393,870 SF)
Zoning code
B-4 CENTRAL BUSINESS
APN
E-000-0235-001
UPID
US87-0959790
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
-
Avery-Geter Tracey L Medical Clinic
-
Richmond Nutrition WIC Social Service Agency Charitable Organization
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$19.03M
Blend (final)
Blend
$14.82M
Owner & transaction history
Economic Dev Authority Of City Of R
Economic Dev Authority Of City Of R
since 2026
3 recorded transactions
Zoning & alternative use
B-4 CENTRAL BUSINESS · Richmond, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$24.6M
+12.6%
Neighborhood: shopping center
$24.2M
+11.1%
Apartment house (5+ units)
$23.7M
+8.7%
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
$21,800,000
Current use
MEDICAL BUILDING
$24,555,000
Change: +13% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$24,215,000
Change: +11% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$23,695,000
Change: +9% · Conversion: Easy
RETAIL STORES
$21,235,000
Change: -3% · Conversion: Moderate
Blend value · Realmo final
$14.82M
Range $13.34M – $16.30M · ±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
$101 / 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
$258,300
Tax year 2020
Assessed value
$21,525,000
Assessed 2024
Previous assessed
$21,525,000
+0.0% YoY
Effective rate
1.20%
On assessed value
Assessed land
$8,516,000
Assessed improvement
$13,009,000
Land market value
$8,516,000
Improvement market value
$13,009,000
Total market value
$21,525,000
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
OFFICE BUILDING
Status
Off-Market
Year built
1954
Construction
STONE
Heating
NONE
Buildings
2
Stories
3
Total area
147,399 SF
Lot
9.04 ac (393,870 SF)
Zoning code
B-4 CENTRAL BUSINESS
APN
E-000-0235-001
UPID
US87-0959790
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
$21.8M
MEDICAL BUILDING
Est. value
$24.6M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$24.2M
APARTMENT HOUSE (5+ UNITS)
Est. value
$23.7M
RETAIL STORES
Est. value
$21.2M
OFFICE BUILDING Current
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
1954
Construction
STONE
Heating
NONE
Stories
3
Buildings
2
Lot
9.04 ac
Current owner
From public records · entity-resolved
Economic Dev Authority Of City Of R
Entity
Free & Clear · 0 yrs held
Mailing address
900 E BROAD ST #400, RICHMOND, VA 23219-1907
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
Mar 24, 2026
—
Economic Dev Authority Of City Of R
City Of Richmond Virginia
Quitclaim Deed
related
—
Feb 6, 2023
—
City Of Richmond
Project 10th Street Owner LLC
Deed
—
Jul 16, 2021
—
Project 10th Street Owner LLC
City Of Richmond
Quit Claim Deed
related
$425,875,674 · Umb Bank NA
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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