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Property profile & analytics
OFF-MARKET
Estimated value
$2,295,000
Manufacturing properties
5361 Lewis Rd Sandston, VA 23150-1919
Entity Owned
1-yr Hold
Absentee Owner
Free & Clear
Property ID
US87-0696465
Property profile
Verified
Property type
Manufacturing properties
Use group
HEAVY MANUFACTURING
Year built
1996
Total area
25,854 SF
Lot
3.88 ac (169,143 SF)
Zoning code
M-1
APN
819-713-4101
UPID
US87-0696465
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
-
Reddy Ice Big Box & Wholesale Store Distribution Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.48M
Comparable Approach
Comparable
$2.22M
Blend (final)
Blend
$2.30M
Owner & transaction history
Ice Ice Baby Multi LLC · 1 yrs held
Ice Ice Baby Multi LLC
since 2025
1 recorded transaction
Zoning & alternative use
M-1 · Sandston, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$3.7M
+20.4%
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 Sandston submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Sandston 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%
$2,690,000
6.5%
$2,480,000
7%
$2,305,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$3,105,000
Current use
COMMERCIAL (GENERAL)
$3,740,000
Change: +20% · Conversion: Difficult
Blend value · Realmo final
$2.30M
Range $2.07M – $2.52M · ±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
$89 / 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 2024Property tax & assessments
Tax year 2024
Tax billed
$28,059
Tax year 2024
Assessed value
$3,161,300
Assessed 2024
Previous assessed
$3,161,300
+0.0% YoY
Effective rate
0.89%
On assessed value
Assessed land
$310,600
Assessed improvement
$2,850,700
Land market value
$310,600
Improvement market value
$2,850,700
Total market value
$3,161,300
Applied tax rate
5.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
Manufacturing properties
Use group
HEAVY MANUFACTURING
Status
Off-Market
Year built
1996
Heating
HEAT PUMP
Cooling
YES
Stories
1
Total area
25,854 SF
Lot
3.88 ac (169,143 SF)
Zoning code
M-1
APN
819-713-4101
UPID
US87-0696465
Jurisdiction
HENRICO
Zoning & alternative use
M-1 · Sandston, VA
Zoning M-1 · permitted uses
M-1 · Sandston, VA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Sandston. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$3.1M
COMMERCIAL (GENERAL)
Est. value
$3.7M
INDUSTRIAL (GENERAL) Current
COMMERCIAL (GENERAL)
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
1996
Heating
HEAT PUMP
Cooling
Yes
Stories
1
Lot
3.88 ac
Current owner
From public records · entity-resolved
Ice Ice Baby Multi LLC
Entity
Free & Clear · 1 yrs held
Mailing address
NEW BRAUNFELS, TX 78131
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2025
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
Mar 4, 2025
$3,297
Ice Ice Baby Multi LLC
Reddy Ice LLC
Special Warranty Deed
—
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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