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Property profile & analytics
OFF-MARKET
Estimated value
$1,395,000
Warehouses
610 Decatur St Richmond, VA 23224
Entity Owned
Free & Clear
Property ID
US87-0833863
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1948
Construction
STONE
Total area
16,484 SF
Lot
0.98 ac (42,671 SF)
Zoning code
B-7 CENTRAL BUSINESS
APN
S-000-0110-003
UPID
US87-0833863
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.80M
Blend (final)
Blend
$1.40M
Owner & transaction history
Manchester Square Townhome Assn INC
Manchester Square Townhome Assn INC
since 2025
4 recorded transactions
Zoning & alternative use
B-7 CENTRAL BUSINESS · Richmond, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.8M
+61.9%
Industrial (general)
$1.7M
+55.3%
Auto repair, garage
$1.6M
+49.0%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$1,095,000
Current use
COMMERCIAL (GENERAL)
$1,770,000
Change: +62% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$1,700,000
Change: +55% · Conversion: Easy
AUTO REPAIR, GARAGE
$1,630,000
Change: +49% · Conversion: Easy
Blend value · Realmo final
$1.40M
Range $1.26M – $1.53M · ±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
$85 / 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
$2,041,000
Assessed 2024
Previous assessed
$1,231,000
+65.8% YoY
Effective rate
0.00%
On assessed value
Assessed land
$1,843,000
Assessed improvement
$198,000
Land market value
$1,843,000
Improvement market value
$198,000
Total market value
$2,041,000
Applied tax rate
6.0000
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1948
Construction
STONE
Heating
YES
Stories
1
Bathrooms
1
Total area
16,484 SF
Lot
0.98 ac (42,671 SF)
Zoning code
B-7 CENTRAL BUSINESS
APN
S-000-0110-003
UPID
US87-0833863
Jurisdiction
RICHMOND CITY
Zoning & alternative use
B-7 CENTRAL BUSINESS · Richmond, VA
Zoning B-7 CENTRAL BUSINESS · permitted uses
B-7 CENTRAL BUSINESS · 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
WAREHOUSE, STORAGE Current
Est. value
$1.1M
COMMERCIAL (GENERAL)
Est. value
$1.8M
INDUSTRIAL (GENERAL)
Est. value
$1.7M
AUTO REPAIR, GARAGE
Est. value
$1.6M
WAREHOUSE, STORAGE Current
COMMERCIAL (GENERAL)
INDUSTRIAL (GENERAL)
AUTO REPAIR, GARAGE
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
1948
Construction
STONE
Heating
YES
Stories
1
Bathrooms
1
Lot
0.98 ac
Current owner
From public records · entity-resolved
Manchester Square Townhome Assn INC
Entity
Free & Clear · 0 yrs held
Mailing address
7 E 2ND ST, RICHMOND, VA 23224-4253
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 3, 2026
—
Benjamin Lee Axman
—
Deed
related
$346,492 · Cmg Mortgage INC
Nov 13, 2025
—
Manchester Square Townhome Assn INC
Decatur Affair LLC
Deed
—
Apr 13, 2023
—
Decatur Affair LLC
The Last Will And Testament Of Elai
Quit Claim Deed
related
—
Jan 31, 2022
—
Decatur Affair LLC
Decatur Affair LLC
Intrafamily Transfer
related
—
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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