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    Property profile & analytics

    508 Libbie Ave Richmond, VA 23226-2618

    • Office buildings
    • 2,408 SF
    • 0.22 lot acres
    OFF-MARKET
    Value Estimation
    $1,760,000
    Last Sale
    Jun 01, 2023
    $2,050,000
    Location Intelligence
    Property ID
    US87-2404566
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Falls III William F DDS / Dentist
    • Dr. Jill A. Gasper / Child Psychologist
    • Jill Allison Ferrante Gasper / Child Psychologist
    • Active & Connected Family Therapy, Richmond / Mental Health Service
    • Sandra H Henderson, PhD, Tuckahoe Child Psychology, PLLC / Child Psychologist

    Property Details for 508 Libbie Ave

    Year built
    2012
    Construction
    WOOD
    Lot size
    0.22 lot acres
    Property size
    2,408 SF
    Zone code
    R-4 SINGLE FAMILY
    Property type
    Office buildings
    APN
    W-021-0261-023
    APU
    W0210261023

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $1,615,000

    • CAP approach

      CAP return
      Estimation
      6%
      $2,200,000
      6.5%
      $1,820,000
      7%
      $1,960,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $2,075,000
      Geo Method
      $2,010,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $2,185,000
      Retail
      $2,070,000
      Mixed-Use
      $2,185,000
      Hospitality
      $2,240,000
      Educational
      $2,085,000
      Residential Income
      $1,810,000
      Energy
      $2,285,000
      Income-Based Land
      $2,260,000
      Food Service
      $1,930,000

    Location Insight

    • Map
    • Local Demand
    City
    Richmond
    County
    Richmond City
    State
    Virginia
    Longitude
    -77.5174
    Latitude
    37.5767
    CBSA code
    40060
    CBSA name
    RICHMOND, VA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2020
    $20
    $1,038,000
    $323,000
    $1,361,000
    -
    $1,038,000
    $323,000
    $1,361,000

    Comparable in this City

    • Value Estimation by Request
      7,680 SF

      5701 Patterson Ave

      PROFESSIONAL BUILDING • 7,680 SF
      5701 Patterson Ave, Richmond, VA 23226-2009
      View Details
    • Value Estimation by Request
      1,463 SF

      5604 Grv Ave

      PROFESSIONAL BUILDING • 1,463 SF
      5604 Grv Ave, Richmond, VA 23226-2102
      View Details
    • Value Estimation by Request
      2,200 SF

      122 Granite Ave

      PROFESSIONAL BUILDING • 2,200 SF
      122 Granite Ave, Richmond, VA 23226-2322
      View Details
    • Value Estimation
      $6,215,000
      33,059 SF

      7110 Frst Ave

      OFFICE BUILDING • 33,059 SF
      7110 Frst Ave, Richmond, VA 23226-3786
      View Details
    • Value Estimation
      $305,000
      2,114 SF

      6318 Rigsby Rd

      OFFICE BUILDING • 2,114 SF
      6318 Rigsby Rd, Richmond, VA 23226-2915
      View Details
    • Value Estimation by Request
      9,122 SF

      5501 Patterson Ave

      PROFESSIONAL BUILDING • 9,122 SF
      5501 Patterson Ave, Richmond, VA 23226-2025
      View Details

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    • Contact for pricing
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    Similar Nearby for Lease

    • $19 SF/Yr
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      West Broad Street Office Building

      Three-story office building at West Broad Street and Libbie Avenue.
      2008 Libbie Ave, Richmond, VA 23226
      View Details
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      Class A office building with suites available for lease.
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      Office space with modern finishes and convenient highway access.
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      Office space for lease in Richmond, Virginia.
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      Class A Medical & Creative Office Suites Available
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    • Contact for pricing
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      Office space with convenient access to amenities and major routes.
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      View Details
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    508 Libbie Ave
    Richmond, VA 23226-2618
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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