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    Property profile & analytics

    5318 Patterson Ave Richmond, VA 23226-2044

    • Medical offices
    • 8,385 SF
    • 0.48 lot acres
    OFF-MARKET
    Value Estimation
    $1,290,000
    Last Sale
    Feb 01, 2021
    $1,570,000
    Location Intelligence
    Property ID
    US87-1207281
    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

    • Rashida N. Gray, MD / Doctor / Psychiatrist
    • Gray MD Psychiatry, LLC / Psychiatrist
    • Stoudt Melanie / Family Counselor / Psychotherapist
    • Still Point Massage Therapy, LLC / Massage Therapist
    • Sea Glass LLC - EMDR Therapy & EMDR Intensives / Counselor

    Property Details for 5318 Patterson Ave

    Year built
    1998
    Construction
    WOOD
    Lot size
    0.48 lot acres
    Property size
    8,385 SF
    Zone code
    MULTI-ZONING
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    W-020-0076-054
    APU
    W0200076054

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $1,175,000

    • CAP approach

      CAP return
      Estimation
      6%
      $1,685,000
      6.5%
      $1,575,000
      7%
      $1,465,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $1,730,000
      Geo Method
      $1,685,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $1,555,000
      Retail
      $1,370,000
      Mixed-Use
      $1,700,000
      Hospitality
      $1,715,000
      Educational
      $1,335,000
      Residential Income
      $1,490,000
      Energy
      $1,555,000
      Income-Based Land
      $1,700,000
      Food Service
      $1,695,000

    Location Insight

    • Map
    • Local Demand
    City
    Richmond
    County
    Richmond City
    State
    Virginia
    Longitude
    -77.5092
    Latitude
    37.5771
    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
    $820,000
    $1,169,000
    $1,989,000
    -
    $820,000
    $1,169,000
    $1,989,000

    Comparable in this City

    • Value Estimation by Request
      149,848 SF

      5875 Bremo Rd

      MEDICAL BUILDING • 149,848 SF
      5875 Bremo Rd, Richmond, VA 23226-1907
      View Details
    • Value Estimation by Request
      4,916 SF

      4909 Grv Ave

      MEDICAL CLINIC • 4,916 SF
      4909 Grv Ave, Richmond, VA 23226-1649
      View Details
    • Value Estimation by Request
      13,291 SF

      402 Westhampton Sta

      MEDICAL BUILDING • 13,291 SF
      402 Westhampton Sta, Richmond, VA 23226-3330
      View Details
    • Value Estimation by Request
      2,311 SF

      118 Libbie Ave

      MEDICAL CLINIC • 2,311 SF
      118 Libbie Ave, Richmond, VA 23226-2353
      View Details
    • Value Estimation
      $2,465,000
      6,812 SF

      5320 Patterson Ave

      MEDICAL CLINIC • 6,812 SF
      5320 Patterson Ave, Richmond, VA 23226-1536
      View Details
    • Value Estimation
      $310,000
      1,420 SF

      6911 Patterson Ave

      MEDICAL CLINIC • 1,420 SF
      6911 Patterson Ave, Richmond, VA 23226-3627
      View Details

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      View Details
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    5318 Patterson Ave
    Richmond, VA 23226-2044
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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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