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Property profile & analytics
FOR LEASE
Medical Office Space
5320 Patterson Ave Richmond, VA 23226
Entity Owned
3-yr Hold
Free & Clear
Property ID
US87-0758866
For Lease
1 / 2
$2,610,000
5320 Patterson Ave, Richmond, VA 23226
View Listing →
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL CLINIC
Year built
1998
Construction
WOOD
Total area
6,812 SF
Lot
0.47 ac (20,343 SF)
Zoning code
R-5 SINGLE FAMILY
APN
W-020-0076-052
UPID
US87-0758866
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
-
Deep V. Patel Physician Medical Clinic
-
Nephrology Specialists Pc Medical Clinic
-
American Renal Associates - Westhampton Dialysis Center Medical Clinic
-
Bethke Robert MD Physician Medical Clinic
-
Dr. Mary T. Mcneer, MD Physician Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.43M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.61M
Owner & transaction history
5320 Patterson Ave LLC · 3 yrs held
5320 Patterson Ave LLC
since 2022
Last sale
$2.8M
3 recorded transactions
Zoning & alternative use
R-5 SINGLE FAMILY · Richmond, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.9M
+68.9%
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
$2,440,000
ML approach
$2,425,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$1,915,000
Change: +69% · Conversion: Difficult
Blend value · Realmo final
$2.61M
Range $2.35M – $2.87M · ±10% · vs last sale $2.79M (Oct 19 2022)
Last sale anchor
$2.79M
Oct 19 2022
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
$383 / 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
$2,039,000
Assessed 2024
Previous assessed
$1,803,000
+13.1% YoY
Effective rate
0.00%
On assessed value
Assessed land
$797,000
Assessed improvement
$1,242,000
Land market value
$797,000
Improvement market value
$1,242,000
Total market value
$2,039,000
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
For Lease
Year built
1998
Construction
WOOD
Heating
YES
Cooling
YES
Stories
2
Rooms
20
Bathrooms
2
Total area
6,812 SF
Lot
0.47 ac (20,343 SF)
Zoning code
R-5 SINGLE FAMILY
APN
W-020-0076-052
UPID
US87-0758866
Jurisdiction
RICHMOND CITY
Zoning & alternative use
R-5 SINGLE FAMILY · Richmond, VA
Zoning R-5 SINGLE FAMILY · permitted uses
R-5 SINGLE FAMILY · 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
RESTAURANT
Est. value
$1.9M
RESTAURANT
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
Rooms
20
Bathrooms
2
Lot
0.47 ac
Current owner
From public records · entity-resolved
5320 Patterson Ave LLC
Entity
Free & Clear · 3 yrs held
Mailing address
5413 PATTERSON AVE STE #200, RICHMOND, VA 23226-2023
Ownership since
2022
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 19, 2022
$2,785,000
5320 Patterson Ave LLC
Dialysis Specialists LLC
Special Warranty Deed
—
Feb 28, 2017
—
Dailysis Specialists LLC
—
Deed
related
$1,175,000 · Union Bk&tr
—
—
Dailysis Specialists LLC
—
Loan Modification
related
$1,175,000 · 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.
Try Rey
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