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Property profile & analytics
OFF-MARKET
Estimated value
$860,000
Medical Office Space
5224 Monument Ave Richmond, VA 23226-1405
Entity Owned
14-yr Hold
~
Est. High Equity
Property ID
US87-0863374
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1961
Total area
6,193 SF
Lot
1.86 ac (81,109 SF)
Zoning code
O-1
APN
771-736-5348
UPID
US87-0863374
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
-
Niamtu III Joseph DDS Physician Medical Clinic
-
Keeney Kanyon R DDS Dental Office
-
Virginia Oral & Facial Surgery: Bryan P. Wheeler, DMD Dental Office
-
Dr. Mauricio Herrera Dental Office
-
Watson D Omar DDS Dental Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$860k
Owner & transaction history
Monument Avenue Investors LLC · 14 yrs held
Monument Avenue Investors LLC
since 2012
3 recorded transactions
Zoning & alternative use
O-1 · Richmond, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$1.1M
+10.9%
Auto repair, garage
$1.1M
+9.3%
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
MEDICAL BUILDING
$1,030,000
Current use
OFFICE BUILDING
$1,145,000
Change: +11% · Conversion: Easy
AUTO REPAIR, GARAGE
$1,130,000
Change: +9% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$1,015,000
Change: -1% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$995,000
Change: -3% · Conversion: Moderate
COMMERCIAL (GENERAL)
$980,000
Change: -5% · Conversion: Easy
RETAIL STORES
$890,000
Change: -14% · Conversion: Difficult
Blend value · Realmo final
$860k
Range $774k – $946k · ±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
$139 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$16,364
Tax year 2023
Assessed value
$1,925,200
Assessed 2024
Previous assessed
$1,925,200
+0.0% YoY
Effective rate
0.85%
On assessed value
Assessed land
$385,200
Assessed improvement
$1,540,000
Land market value
$385,200
Improvement market value
$1,540,000
Total market value
$1,925,200
Applied tax rate
3.0000
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1961
Heating
HEAT PUMP
Stories
1
Total area
6,193 SF
Lot
1.86 ac (81,109 SF)
Zoning code
O-1
APN
771-736-5348
UPID
US87-0863374
Jurisdiction
HENRICO
Zoning & alternative use
O-1 · Richmond, VA
Zoning O-1 · permitted uses
O-1 · 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
MEDICAL BUILDING Current
Est. value
$1.0M
OFFICE BUILDING
Est. value
$1.1M
AUTO REPAIR, GARAGE
Est. value
$1.1M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.0M
APARTMENT HOUSE (5+ UNITS)
Est. value
$995,000
COMMERCIAL (GENERAL)
Est. value
$980,000
RETAIL STORES
Est. value
$890,000
MEDICAL BUILDING Current
OFFICE BUILDING
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
APARTMENT HOUSE (5+ UNITS)
COMMERCIAL (GENERAL)
RETAIL STORES
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
1961
Heating
HEAT PUMP
Stories
1
Lot
1.86 ac
Current owner
From public records · entity-resolved
Monument Avenue Investors LLC
Entity
Mailing address
11545 NUCKOLS RD STE A, GLEN ALLEN, VA 23059-5666
Ownership since
2012
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
Oct 17, 2018
—
Monument Ave Invtrs LLC
—
Deed
related
$1,719,000 · Union Bk&tr
Jan 17, 2012
$1,000,000
Monument Avenue Investors LLC
Med Atlantic INC
Trustees Deed
$1,119,337 · Wfb NA
—
—
Monument Ave Invtrs LLC
—
Deed Of Trust
related
$1,719,000 · Union Bk&tr
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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