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Property profile & analytics
OFF-MARKET
Estimated value
$19,250,000
Parking lots & garages
620 Cary St, Richmond, VA 23219
Entity Owned
~
Est. High Equity
Property ID
US87-0655602
Property profile
Verified
Property type
Parking lots & garages
Use group
PARKING LOT
Year built
1955
Construction
CONCRETE
Total area
38,596 SF
Lot
0.44 ac (19,301 SF)
Zoning code
B-4 CENTRAL BUSINESS
APN
W-000-0012-016
UPID
US87-0655602
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
-
VCU College of Engineering College
-
Lot 26 – 7th & Cary Deck Parking Lot & Garage
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$19.25M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$19.25M
Owner & transaction history
Jemals 620 Garage LLC
Jemals 620 Garage LLC
since 2026
2 recorded transactions
Zoning & alternative use
B-4 CENTRAL BUSINESS · Richmond, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
$19,250,000
ML approach
$19,250,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$19.25M
Range $17.33M – $21.18M · ±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
$499 / 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
$2,520,000
Assessed 2024
Previous assessed
$2,520,000
+0.0% YoY
Effective rate
0.00%
On assessed value
Assessed land
$1,847,000
Assessed improvement
$673,000
Land market value
$1,847,000
Improvement market value
$673,000
Total market value
$2,520,000
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
Parking lots & garages
Use group
PARKING LOT
Status
Off-Market
Year built
1955
Construction
CONCRETE
Heating
YES
Stories
2
Total area
38,596 SF
Lot
0.44 ac (19,301 SF)
Zoning code
B-4 CENTRAL BUSINESS
APN
W-000-0012-016
UPID
US87-0655602
Jurisdiction
RICHMOND CITY
Zoning & alternative use
B-4 CENTRAL BUSINESS · Richmond, VA
Zoning B-4 CENTRAL BUSINESS · permitted uses
B-4 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.
Building & site characteristics
From public records
Year built
1955
Construction
CONCRETE
Heating
YES
Stories
2
Lot
0.44 ac
Current owner
From public records · entity-resolved
Jemals 620 Garage LLC
Entity
Mailing address
PO BOX 27026, RICHMOND, VA 23261-7026
Ownership since
2026
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 2, 2026
—
Jemals 620 Garage LLC
Norman Jemal 2021 Sons Trust
Deed
$1,925,000 · Modern Bank NA
Dec 10, 2024
$19,250,000
Jemals Dominion LLC
Dominion Energy INC
Special Warranty Deed
$19,000,000 · Db Dominion LLC
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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