Property profile

508 Cary St Richmond, VA 23219

OFF-MARKET
Office buildings
Property ID
US87-1064286
5,160 SF 0.25 ac lot Built 1844
Entity Owned 1-yr Hold ~ Est. High Equity
Saved · see the list in your Dashboard

Property summary

AI-generated overview

Situated on the corner of 5th and E Cary Street in Richmond’s Monroe Ward, adjacent to the Central Business District, the property includes a historic brick building constructed in 1844 with a stucco overlay. The main structure provides approximately 6,348 square feet across three floors and features high ceilings, winding staircases, large rooms, and expansive windows, with many original architectural elements preserved. The building layout is suitable for professional office use, including attorneys’ offices, financial planning/family office functions, or architectural firms. A two-story carriage house on the property adds approximately 1,650 square feet and can function as a separate business space or guest accommodations, with the associated layout supporting independent use from the main building.

Property profile

Verified
Property type Office buildings
Use group PROFESSIONAL BUILDING
Year built 1844
Construction TYPE NOT SPECIFIED
Total area 5,160 SF
Lot 0.25 ac (10,716 SF)
Zoning code B-4 CENTRAL BUSINESS
APN W-000-0013-025
UPID US87-1064286

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Insurance Agency

Location

508 Cary St Richmond, VA 23219-3818
Richmond metro Census 30502 RICHMOND, VA METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$755k

Owner & transaction history

since 2025
5 recorded transactions
2025
$1.3M
2019
$1.2M
2008
$1.4M
1969
Price N/A
1969
Price N/A

Zoning & alternative use

B-4 CENTRAL BUSINESS · Richmond, VA
Top alternative use upside
Auto repair, garage $940,000 +23.2%
Medical building $860,000 +12.6%
Neighborhood: shopping center $850,000 +11.1%

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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?”
You own 508 Cary St?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
More about this property
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Please enter message