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Property profile & analytics
OFF-MARKET
Investment properties
506 Broad St Richmond, VA 23220-4223
Entity Owned
Free & Clear
Property ID
US87-0030933
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1920
Construction
TYPE NOT SPECIFIED
Total area
3,052 SF
Lot
0.04 ac (1,529 SF)
Zoning code
B-4 CENTRAL BUSINESS
APN
N-000-0240-020
UPID
US87-0030933
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
-
The Riviere ( The Honey Drizzle ) Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Mill Shop On Broad LLC
Mill Shop On Broad LLC
since 2025
Last sale
$1.4M
7 recorded transactions
Zoning & alternative use
B-4 CENTRAL 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$493,000
Assessed 2024
Previous assessed
$441,000
+11.8% YoY
Effective rate
0.00%
On assessed value
Assessed land
$152,000
Assessed improvement
$341,000
Land market value
$152,000
Improvement market value
$341,000
Total market value
$493,000
Applied tax rate
2.0000
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
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
Off-Market
Year built
1920
Construction
TYPE NOT SPECIFIED
Heating
YES
Stories
2
Rooms
4
Bathrooms
1
Total area
3,052 SF
Lot
0.04 ac (1,529 SF)
Zoning code
B-4 CENTRAL BUSINESS
APN
N-000-0240-020
UPID
US87-0030933
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.
Building & site characteristics
From public records
Year built
1920
Construction
TYPE NOT SPECIFIED
Heating
YES
Stories
2
Rooms
4
Bathrooms
1
Lot
0.04 ac
Current owner
From public records · entity-resolved
Mill Shop On Broad LLC
Entity
Free & Clear · 0 yrs held
Mailing address
1631 MONUMENT AVE, RICHMOND, VA 23220-2906
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 12, 2025
$1,400,000
Mill Shop On Broad LLC
504 West Broad LLC
Deed
—
Mar 15, 2022
—
504 West Broad LLC
—
Deed
related
$543,750 · Truist Bank
Jan 21, 2020
$900,000
504 W Broad LLC
Lee Jun-fan LLC
Warranty Deed
$720,000 · Black Label Cap LLC
Jan 27, 2014
$425,000
Black Label Capital LLC
506 West LLC
Warranty Deed
$225,000 · Eagle Bank
Mar 30, 2007
$159,950
506 West LLC
Gwg LLC
Grant Deed
—
Oct 25, 2004
$100,000
Gwg LLC
M & K Development Advisors LLC
Grant Deed
—
Sep 24, 2004
$55,000
M & K Development Advisors LLC
One Leong Chinese Merchants
Grant Deed
$52,000 · Branch Bk&tr/va
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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