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Property profile & analytics
OFF-MARKET
Estimated value
$1,900,000
Hotels
501 Franklin St Richmond, VA 23219-2309
Entity Owned
8-yr Hold
~
Est. High Equity
Property ID
US87-0986925
Property profile
Verified
Property type
Hotels
Use group
HOTEL
Year built
1916
Construction
TYPE NOT SPECIFIED
Total area
48,000 SF
Lot
0.24 ac (10,566 SF)
Zoning code
B-4 CENTRAL BUSINESS
APN
W-000-0014-022
UPID
US87-0986925
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
-
Partners For Telehealth Solutions Physician
-
The NPI Mission Medical Clinic
-
Joyce L. Hancock, LCSW Counselor Doctor
-
Global Credit Systems LLC Financial Advisor
-
Game On Recruiting Systems Employment Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.77M
Blend (final)
Blend
$1.90M
Owner & transaction history
Economic Dev Auth Of City & Richm
Economic Dev Auth Of City & Richm
1 recorded transaction
Zoning & alternative use
B-4 CENTRAL BUSINESS · Richmond, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Industrial (general)
$3.0M
+206.7%
Medical building
$2.8M
+181.4%
Office building
$2.6M
+160.8%
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
INDUSTRIAL (GENERAL)
$3,000,000
Change: +207% · Conversion: Difficult
MEDICAL BUILDING
$2,755,000
Change: +181% · Conversion: Difficult
OFFICE BUILDING
$2,550,000
Change: +161% · Conversion: Difficult
Blend value · Realmo final
$1.90M
Range $1.71M – $2.09M · ±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
$40 / 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
$18,024,000
Assessed 2024
Previous assessed
$18,024,000
+0.0% YoY
Effective rate
0.00%
On assessed value
Assessed land
$521,000
Assessed improvement
$17,503,000
Land market value
$521,000
Improvement market value
$17,503,000
Total market value
$18,024,000
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
Hotels
Use group
HOTEL
Status
Off-Market
Year built
1916
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
YES
Stories
8
Bathrooms
2
Total area
48,000 SF
Lot
0.24 ac (10,566 SF)
Zoning code
B-4 CENTRAL BUSINESS
APN
W-000-0014-022
UPID
US87-0986925
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
INDUSTRIAL (GENERAL)
Est. value
$3.0M
MEDICAL BUILDING
Est. value
$2.8M
OFFICE BUILDING
Est. value
$2.6M
INDUSTRIAL (GENERAL)
MEDICAL BUILDING
OFFICE BUILDING
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
1916
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
Yes
Stories
8
Bathrooms
2
Lot
0.24 ac
Current owner
From public records · entity-resolved
Economic Dev Auth Of City & Richm
Entity
Mailing address
501 E FRANKLIN ST, RICHMOND, VA 23219-2309
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
—
—
Economic Dev Auth Of City & Richm
—
Deed Of Trust
related
$249,900 · Restauranteur INC
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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