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Property profile & analytics
FOR LEASE
Office buildings
501 N 2Nd St Richmond, VA 23219
Entity Owned
15-yr Hold
Free & Clear
Property ID
US87-1098667
For Lease
1 / 2
$5,080,000
501 N 2Nd St, Richmond, VA 23219
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
PROFESSIONAL BUILDING
Year built
1992
Construction
TYPE NOT SPECIFIED
Total area
57,384 SF
Lot
0.93 ac (40,685 SF)
Zoning code
B-2 COMMUNITY BUSINESS
APN
N-000-0039-026
UPID
US87-1098667
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
-
VCU Health Motivate Clinic at Jackson Center Medical Clinic
-
Jackson Center Medical Clinic
-
VCU Health at Jackson Center: Outpatient Psychiatry Physician Medical Clinic
-
Caitlin E. Martin, MD MPH Physician
-
James Wade, PhD LCP Physician Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$5.53M
Blend (final)
Blend
$5.08M
Owner & transaction history
Jackson Ctr LP · 15 yrs held
Jackson Ctr LP
since 2011
3 recorded transactions
Zoning & alternative use
B-2 COMMUNITY BUSINESS · 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
Alternative Use
Use
Estimation
RETAIL STORES
$8,265,000
Change: -3% · Conversion: Moderate
Blend value · Realmo final
$5.08M
Range $4.57M – $5.59M · ±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
$89 / 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
$6,152,000
Assessed 2024
Previous assessed
$6,152,000
+0.0% YoY
Effective rate
0.00%
On assessed value
Assessed land
$1,301,000
Assessed improvement
$4,851,000
Land market value
$1,301,000
Improvement market value
$4,851,000
Total market value
$6,152,000
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
PROFESSIONAL BUILDING
Status
For Lease
Year built
1992
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
YES
Stories
4
Bathrooms
4
Total area
57,384 SF
Lot
0.93 ac (40,685 SF)
Zoning code
B-2 COMMUNITY BUSINESS
APN
N-000-0039-026
UPID
US87-1098667
Jurisdiction
RICHMOND CITY
Zoning & alternative use
B-2 COMMUNITY BUSINESS · Richmond, VA
Zoning B-2 COMMUNITY BUSINESS · permitted uses
B-2 COMMUNITY 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
RETAIL STORES
Est. value
$8.3M
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
1992
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
Yes
Stories
4
Bathrooms
4
Lot
0.93 ac
Current owner
From public records · entity-resolved
Jackson Ctr LP
Entity
Free & Clear · 15 yrs held
Mailing address
700 N 4TH ST, RICHMOND, VA 23219-1414
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 30, 2011
—
Jackson Ctr LP
City Of Richmond
Quit Claim Deed
related
—
Jun 30, 2011
$2,500,000
United Network Of Organ Sharing
Jackson Ctr LP
Grant Deed
—
—
—
Southside Cmnty Dev & Hsng Corp
—
Deed Of Trust
related
$1,420,828 · Private Individual
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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