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Property profile & analytics
OFF-MARKET
Estimated value
$1,410,000
Medical Office Space
5318 Patterson Ave Richmond, VA 23226-2044
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US87-1207281
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL CLINIC
Year built
1998
Construction
WOOD
Total area
8,385 SF
Lot
0.48 ac (20,952 SF)
Zoning code
MULTI-ZONING
APN
W-020-0076-054
UPID
US87-1207281
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
-
Rashida N. Gray, MD Physician
-
Gray MD Psychiatry, LLC Physician
-
Stoudt Melanie Counselor Family Counselor
-
Still Point Massage Therapy, LLC Alternative Medicine Practice Spa & Massage Center
-
Sea Glass LLC - EMDR Therapy & EMDR Intensives Counselor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.32M
CAP Approach
CAP
$1.85M
Comparable Approach
Comparable
$1.40M
Blend (final)
Blend
$1.41M
Owner & transaction history
5318 Patterson LLC · 5 yrs held
5318 Patterson LLC
since 2021
Last sale
$1.6M
1 recorded transaction
Zoning & alternative use
MULTI-ZONING · Richmond, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$1.6M
+10.9%
Auto repair, garage
$1.5M
+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
$1,175,000
ML approach
$1,320,000
CAP Approach
CAP Return
Estimation
6%
$2,005,000
6.5%
$1,850,000
7%
$1,720,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$1,395,000
Current use
OFFICE BUILDING
$1,550,000
Change: +11% · Conversion: Easy
AUTO REPAIR, GARAGE
$1,525,000
Change: +9% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$1,380,000
Change: -1% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$1,350,000
Change: -3% · Conversion: Moderate
COMMERCIAL (GENERAL)
$1,325,000
Change: -5% · Conversion: Easy
RETAIL STORES
$1,210,000
Change: -14% · Conversion: Difficult
Blend value · Realmo final
$1.41M
Range $1.27M – $1.55M · ±10% · vs last sale $1.57M (Feb 1 2021)
Last sale anchor
$1.57M
Feb 1 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
$168 / 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
$1,989,000
Assessed 2024
Previous assessed
$1,751,000
+13.6% YoY
Effective rate
0.00%
On assessed value
Assessed land
$820,000
Assessed improvement
$1,169,000
Land market value
$820,000
Improvement market value
$1,169,000
Total market value
$1,989,000
Applied tax rate
1.0000
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 CLINIC
Status
Off-Market
Year built
1998
Construction
WOOD
Heating
YES
Cooling
YES
Stories
2
Bathrooms
2
Total area
8,385 SF
Lot
0.48 ac (20,952 SF)
Zoning code
MULTI-ZONING
APN
W-020-0076-054
UPID
US87-1207281
Jurisdiction
RICHMOND CITY
Zoning & alternative use
MULTI-ZONING · Richmond, VA
Zoning MULTI-ZONING · permitted uses
MULTI-ZONING · 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
$1.4M
OFFICE BUILDING
Est. value
$1.6M
AUTO REPAIR, GARAGE
Est. value
$1.5M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.4M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.4M
COMMERCIAL (GENERAL)
Est. value
$1.3M
RETAIL STORES
Est. value
$1.2M
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
1998
Construction
WOOD
Heating
YES
Cooling
Yes
Stories
2
Bathrooms
2
Lot
0.48 ac
Current owner
From public records · entity-resolved
5318 Patterson LLC
Entity
Mailing address
5318 PATTERSON AVE STE B, RICHMOND, VA 23226-2044
Mailing matches property
Yes
Owner-occupied
Yes
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
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 1, 2021
$1,570,000
5318 Patterson LLC
Westhampton Professional Associates
Warranty Deed
$1,250,000 · Townebank
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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