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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    5901 Broad St Richmond, VA 23230-2219

    • Medical offices
    • 16,250 SF
    • 0.70 lot acres
    OFF-MARKET
    Last Sale
    May 11, 2022
    $1,300,000
    Value Estimations
    $1,160,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US87-0331910
    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

    • Integrative Pain Specialists / Pain Management Physician
    • The Feel Better Lounge / Wellness Center / Health Spa
    • Electronic Store / Electronics Store

    Property Details for 5901 Broad St

    Year built
    1970
    Lot size
    0.70 lot acres
    Property size
    16,250 SF
    Zone code
    MIXE
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    770-740-9436
    APU
    7707409436

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,140,000
      ML approach
      $1,015,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,228,000
      Market price range: $300k - $1.62M

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Richmond
    County
    Henrico
    State
    Virginia
    Longitude
    -77.506
    Latitude
    37.5912
    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
    2023
    $24,284
    $606,300
    $3,755,700
    $4,362,000
    -
    $606,300
    $3,755,700
    $4,362,000

    Comparable in this City

    • Value Estimation
      $370,000
      8,048 SF

      4301 Broad St

      MEDICAL CLINIC • 8,048 SF
      4301 Broad St, Richmond, VA 23230-3305
      View Details
    • Value Estimation
      $135,000
      7,973 SF

      3407 Broad St

      MEDICAL CLINIC • 7,973 SF
      3407 Broad St, Richmond, VA 23230-5003
      View Details
    • Value Estimation
      $755,000
      70,980 SF

      6605 Broad St

      MEDICAL BUILDING • 70,980 SF
      6605 Broad St, Richmond, VA 23230-1714
      View Details
    • Value Estimation by Request
      65,772 SF

      6900 Frst Ave

      MEDICAL BUILDING • 65,772 SF
      6900 Frst Ave, Richmond, VA 23230-1729
      View Details
    • Value Estimation
      $870,000
      40,000 SF

      6627 Broad St

      MEDICAL BUILDING • 40,000 SF
      6627 Broad St, Richmond, VA 23230-1732
      View Details
    • Value Estimation
      $850,000
      48,888 SF

      6946 Frst Ave

      MEDICAL BUILDING • 48,888 SF
      6946 Frst Ave, Richmond, VA 23230-1706
      View Details

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      9,492 SF

      Historic Building in Prime Location

      Creative space with high visibility in a growing area.
      3015 Cutshaw Ave, Richmond, VA 23230
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    • $650,000
      1.24 Acres

      Richmond Development Land - 1.2 Acres

      Prime B-3 zoned land, near I-64 & W. Broad.
      6504 Dickens Pl, Richmond, VA 23230
      View Details
    • Contact for pricing
      51,965 SF

      Richmond Redevelopment Opportunity Near Interstates

      5.8 acre site with 51,965 SF buildings near I-95.
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    Similar Nearby for Lease

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      7,411 SF

      Medical Office Space For Lease

      63,000 RSF medical office building in desirable location.
      6605 W Broad St, Richmond, VA 23230
      View Details
    • Contact for pricing
      144,000 SF

      Executive Suites in Richmond, VA

      Class A Office Space Available Now
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      1,495 SF

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      Turnkey office space with parking in a prime location.
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    • $15 SF/Yr
      12,743 SF

      Office Space Sublease Opportunity

      Sublease opportunity with convenient location and ample parking.
      6806 Paragon Pl, Richmond, VA 23230
      View Details
    • Contact for pricing
      9,100 SF

      Modern Office Space Available

      9,100 SF office space with modern finishes for rent.
      1700 Willow Lawn Dr, Richmond, VA 23230
      View Details
    • $18 SF/Yr
      18,313 SF

      Class A Office Space Available

      Class A office building with plug & play space for rent.
      6603 W Broad St, Richmond, VA 23230
      View Details
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    5901 Broad St
    Richmond, VA 23230-2219
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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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