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Property profile & analytics
FOR LEASE
Office buildings
501 S 5Th St Richmond, VA 23219
Entity Owned
5-yr Hold
Free & Clear
Property ID
US87-0993054
For Lease
1 / 2
Contact for pricing
501 S 5Th St, Richmond, VA 23219
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Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2008
Construction
STONE
Total area
910,544 SF
Lot
3.16 ac (137,432 SF)
Zoning code
B-4 CENTRAL BUSINESS
APN
W-000-0043-002
UPID
US87-0993054
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
-
Boshinski Thomas Law Firm
-
IronWorks Fitness Gym & Fitness Center
-
Richmond Marathon Finish Gym & Fitness Center
-
CoStar - Richmond Office Real Estate Agency
-
CoStar Group Corporate Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$111.01M
Blend (final)
Blend
$117.13M
Owner & transaction history
Coastar Realty Information INC · 5 yrs held
Coastar Realty Information INC
since 2021
Last sale
$130.0M
3 recorded transactions
Zoning & alternative use
B-4 CENTRAL BUSINESS · Richmond, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$165.8M
+23.2%
Medical building
$151.7M
+12.6%
Neighborhood: shopping center
$149.6M
+11.1%
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
$97,500,000
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
$134,660,000
Current use
AUTO REPAIR, GARAGE
$165,845,000
Change: +23% · Conversion: Difficult
MEDICAL BUILDING
$151,680,000
Change: +13% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$149,595,000
Change: +11% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$146,380,000
Change: +9% · Conversion: Easy
RETAIL STORES
$131,180,000
Change: -3% · Conversion: Moderate
Blend value · Realmo final
$117.13M
Range $105.41M – $128.84M · ±10% · vs last sale $130.00M (Jan 25 2021)
Last sale anchor
$130.00M
Jan 25 2021
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
$129 / 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
$125,573,000
Assessed 2024
Previous assessed
$125,573,000
+0.0% YoY
Effective rate
0.00%
On assessed value
Assessed land
$16,246,000
Assessed improvement
$109,327,000
Land market value
$16,246,000
Improvement market value
$109,327,000
Total market value
$125,573,000
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
For Lease
Year built
2008
Construction
STONE
Heating
NONE
Stories
15
Total area
910,544 SF
Lot
3.16 ac (137,432 SF)
Zoning code
B-4 CENTRAL BUSINESS
APN
W-000-0043-002
UPID
US87-0993054
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
$134.7M
AUTO REPAIR, GARAGE
Est. value
$165.8M
MEDICAL BUILDING
Est. value
$151.7M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$149.6M
APARTMENT HOUSE (5+ UNITS)
Est. value
$146.4M
RETAIL STORES
Est. value
$131.2M
OFFICE BUILDING Current
AUTO REPAIR, GARAGE
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
2008
Construction
STONE
Heating
NONE
Stories
15
Lot
3.16 ac
Current owner
From public records · entity-resolved
Coastar Realty Information INC
Entity
Free & Clear · 5 yrs held
Mailing address
501 S 5TH ST, RICHMOND, VA 23219-0501
Ownership since
2021
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
Jan 25, 2021
$130,000
Coastar Realty Information INC
Sir Props
Grant Deed
—
Jul 2, 2013
$143,600,000
Sir Props Trust
Foundry Pk I LLC
Grant Deed
—
Jan 29, 2010
—
Foundary Park I LLC
—
Grant Deed
related
$68,400,000 · Pb Cap
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
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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