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Property profile & analytics
OFF-MARKET
Estimated value
$12,205,000
Warehouses
5050 Midlothian Tpke, Richmond, VA 23225-6209
Entity Owned
4-yr Hold
Free & Clear
Property ID
US87-0977898
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
2019
Construction
TYPE NOT SPECIFIED
Total area
71,500 SF
Lot
6.93 ac (301,871 SF)
Zoning code
B-3 GENERAL BUSINESS
APN
C-005-1045-012
UPID
US87-0977898
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
-
Quench USA - Richmond Big Box & Wholesale Store
-
Extra Space Storage Storage Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$7.99M
CAP Approach
CAP
$11.73M
Comparable Approach
Comparable
$7.95M
Blend (final)
Blend
$12.21M
Owner & transaction history
Extra Space Properties Two LLC · 4 yrs held
Extra Space Properties Two LLC
since 2021
Last sale
$16.6M
3 recorded transactions
Zoning & alternative use
B-3 GENERAL BUSINESS · Richmond, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$20.1M
+185.6%
Auto repair, garage
$13.0M
+84.9%
Medical building
$11.9M
+69.1%
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
$12,425,000
ML approach
$7,985,000
CAP Approach
CAP Return
Estimation
6%
$12,705,000
6.5%
$11,725,000
7%
$10,890,000
Alternative Use
Use
Estimation
RESTAURANT
$20,120,000
Change: +186% · Conversion: Difficult
AUTO REPAIR, GARAGE
$13,025,000
Change: +85% · Conversion: Easy
MEDICAL BUILDING
$11,910,000
Change: +69% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$11,745,000
Change: +67% · Conversion: Moderate
APARTMENT HOUSE (5+ UNITS)
$11,495,000
Change: +63% · Conversion: Difficult
COMMERCIAL (GENERAL)
$11,290,000
Change: +60% · Conversion: Difficult
OFFICE BUILDING
$10,575,000
Change: +50% · Conversion: Difficult
Blend value · Realmo final
$12.21M
Range $10.98M – $13.43M · ±10% · vs last sale $16.57M (Nov 29 2021)
Last sale anchor
$16.57M
Nov 29 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
$171 / 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
$5,281,000
Assessed 2024
Previous assessed
$5,065,000
+4.3% YoY
Effective rate
0.00%
On assessed value
Assessed land
$830,000
Assessed improvement
$4,451,000
Land market value
$830,000
Improvement market value
$4,451,000
Total market value
$5,281,000
Applied tax rate
8.0000
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
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Status
Off-Market
Year built
2019
Construction
TYPE NOT SPECIFIED
Heating
YES
Buildings
3
Stories
2
Rooms
101
Bathrooms
3
Total area
71,500 SF
Lot
6.93 ac (301,871 SF)
Zoning code
B-3 GENERAL BUSINESS
APN
C-005-1045-012
UPID
US87-0977898
Jurisdiction
RICHMOND CITY
Zoning & alternative use
B-3 GENERAL BUSINESS · Richmond, VA
Zoning B-3 GENERAL BUSINESS · permitted uses
B-3 GENERAL 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
RESTAURANT
Est. value
$20.1M
AUTO REPAIR, GARAGE
Est. value
$13.0M
MEDICAL BUILDING
Est. value
$11.9M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$11.7M
APARTMENT HOUSE (5+ UNITS)
Est. value
$11.5M
COMMERCIAL (GENERAL)
Est. value
$11.3M
OFFICE BUILDING
Est. value
$10.6M
RESTAURANT
AUTO REPAIR, GARAGE
MEDICAL BUILDING
NEIGHBORHOOD: SHOPPING CENTER
APARTMENT HOUSE (5+ UNITS)
COMMERCIAL (GENERAL)
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
2019
Construction
TYPE NOT SPECIFIED
Heating
YES
Stories
2
Buildings
3
Rooms
101
Bathrooms
3
Lot
6.93 ac
Current owner
From public records · entity-resolved
Extra Space Properties Two LLC
Entity
Free & Clear · 4 yrs held
Mailing address
2795 E COTTONWOOD PKWY STE #400, SALT LAKE CITY, UT 84121-7033
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
Nov 29, 2021
$16,565,000
Extra Space Properties Two LLC
Psc Cubit LLC
Special Warranty Deed
—
Jun 14, 2018
—
Psc Cubit LLC
—
Trustees Deed
related
$5,014,000 · Revere Bk
Jul 25, 2016
$1,250,000
Psc Cubit LLC
5050 Midlothian LLC
Grant Deed
$815,000 · Revere Bk
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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