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Property profile & analytics
FOR LEASE
Office buildings
6802 Paragon Pl Richmond, VA 23230
Individually Owned
8-yr Hold
Free & Clear
Property ID
US87-1276534
For Lease
1 / 6
Contact for pricing
6802 Paragon Pl, Richmond, VA 23230
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Property summary
AI-generated overview
Two Paragon Place in Richmond, VA, offers exceptional Class A office space within a stunning, modern building (23,230 total square feet) renovated in 2019. This Henrico County location boasts a prestigious campus setting, ideal for businesses seeking a professional image. The property features 350 suites, with a minimum divisible space of 10 square feet and a maximum contiguous space of 1,300 square feet. Currently, 5,970 square feet of space is available. The building offers various office configurations, including executive suites, coworking spaces, and creative office layouts, catering to diverse business needs. Amenities include elevators and an elegant reception area. Enjoy floor-to-ceiling windows offering panoramic views, and benefit from the convenient location near hotels, restaurants, and major interstates (I-95, I-64, and I-195), providing easy access to downtown Richmond. This property is perfect for businesses seeking a sophisticated and well-connected workspace in a thriving area. The building's tenant mix includes government, banking, and legal professionals, reflecting its high-quality environment.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1990
Total area
147,815 SF
Lot
7.53 ac (327,876 SF)
Zoning code
B-2C
APN
769-746-2635
UPID
US87-1276534
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
-
Ektron Marketing & Advertising (Bike/Boat/Book/etc) Store
-
Bryant Stephen A Law Firm
-
Peaden Paula L Law Firm
-
Conway Law Group Law Firm Financial Advisor
-
Peter B. Baruch Law Firm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$17.84M
Blend (final)
Blend
$14.50M
Owner & transaction history
Pfi Vpn Portfolio Fee Owner Ll · 8 yrs held
Pfi Vpn Portfolio Fee Owner Ll
since 2017
2 recorded transactions
Zoning & alternative use
B-2C · Richmond, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Source
code of ordinances
Top alternative use upside
Apartment house (5+ units)
$23.8M
+18.4%
Warehouse, storage
$22.0M
+9.5%
Retail stores
$21.3M
+6.1%
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
OFFICE BUILDING
$20,080,000
Current use
APARTMENT HOUSE (5+ UNITS)
$23,765,000
Change: +18% · Conversion: Easy
WAREHOUSE, STORAGE
$21,985,000
Change: +9% · Conversion: Difficult
RETAIL STORES
$21,295,000
Change: +6% · Conversion: Moderate
Blend value · Realmo final
$14.50M
Range $13.05M – $15.95M · ±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
$98 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$156,484
Tax year 2023
Assessed value
$18,409,900
Assessed 2024
Previous assessed
$18,409,900
+0.0% YoY
Effective rate
0.85%
On assessed value
Assessed land
$1,393,500
Assessed improvement
$17,016,400
Land market value
$1,393,500
Improvement market value
$17,016,400
Total market value
$18,409,900
Applied tax rate
3.0000
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
Office buildings
Use group
OFFICE BUILDING
Status
For Lease
Year built
1990
Heating
FORCED AIR
Cooling
YES
Stories
6
Total area
147,815 SF
Lot
7.53 ac (327,876 SF)
Zoning code
B-2C
APN
769-746-2635
UPID
US87-1276534
Jurisdiction
HENRICO
Zoning & alternative use
B-2C · Richmond, VAZoning B-2C · permitted uses
B-2C · Richmond, VA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Source
code of ordinances
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$20.1M
APARTMENT HOUSE (5+ UNITS)
Est. value
$23.8M
WAREHOUSE, STORAGE
Est. value
$22.0M
RETAIL STORES
Est. value
$21.3M
OFFICE BUILDING Current
APARTMENT HOUSE (5+ UNITS)
WAREHOUSE, STORAGE
RETAIL STORES
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
1990
Heating
FORCED AIR
Cooling
Yes
Stories
6
Lot
7.53 ac
Current owner
From public records · entity-resolved
Pfi Vpn Portfolio Fee Owner Ll
Individual
Free & Clear · 8 yrs held
Mailing address
300 ARBORETUM PL STE #330, NORTH CHESTERFIELD, VA 23236-3412
Ownership since
2017
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
Sep 15, 2017
$12,824,053
Pfi Vpn Portfolio Fee Owner Ll
Map Fee Owner LLC
Grant Deed
—
Feb 17, 2016
$10,469,156
Map Fee Owner LLC
Brandywine Operating Ptshp LP
Grant Deed
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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