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    Property profile & analytics

    7 Cowardin Ave Richmond, VA 23224

    • Automotive properties
    • 1,528 SF
    • 0.33 lot acres
    For Sale
    View listing
    Value Estimation
    Last Sale
    Dec 23, 2024
    $730,000
    Location Intelligence
    Property ID
    US87-1315378
    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

    • Automotive properties

    Property Details for 7 Cowardin Ave

    Year built
    1975
    Construction
    TYPE NOT SPECIFIED
    Lot size
    0.33 lot acres
    Property size
    1,528 SF
    Zone code
    B-3 GENERAL BUSINESS
    Property type
    Automotive properties
    APN
    S-000-0197-042
    APU
    S0000197042

    Description

    This exceptional 0.33-acre commercial property located at 7 Cowardin Ave, Richmond, VA 23224 presents a compelling investment opportunity. The 1,528 square foot retail building, constructed in 1975, sits on a corner lot at the intersection of Cowardin Avenue and Bainbridge Street, offering excellent visibility and accessibility. The property is zoned B-3, allowing for a variety of potential uses and redevelopment options. Its strategic location within a designated Opportunity Zone further enhances its investment appeal, providing potential tax advantages. The existing structure provides a solid foundation for immediate income generation or a complete redevelopment project, catering to the evolving needs of the vibrant Manchester neighborhood. The property's size and zoning provide significant flexibility for future development, making it an attractive proposition for investors seeking a prime location with substantial upside potential. This is a rare chance to acquire a well-situated commercial property in a rapidly growing area of Richmond. The 0.33-acre lot offers ample space for expansion or redevelopment, aligning perfectly with the dynamic commercial landscape of the city. This property is ready for its next chapter.

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $730,000

    • CAP approach

      CAP return
      Estimation
      6%
      $720,000
      6.5%
      $655,000
      7%
      $735,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $635,000
      Geo Method
      $600,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $865,000
      Retail
      $775,000
      Mixed-Use
      $825,000
      Hospitality
      $745,000
      Educational
      $675,000
      Residential Income
      $720,000
      Energy
      $645,000
      Income-Based Land
      $790,000
      Food Service
      $770,000

    Location Insight

    • Map
    • Local Demand
    City
    Richmond
    County
    Richmond City
    State
    Virginia
    Longitude
    -77.4487
    Latitude
    37.519
    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
    2020
    $20
    $300,000
    $53,000
    $353,000
    -
    $300,000
    $53,000
    $353,000

    Comparable in this City

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    • Value Estimation
      $180,000
      961 SF

      206 Cowardin Ave

      VEHICLE SALES, RENTALS • 961 SF
      206 Cowardin Ave, Richmond, VA 23224-2022
      View Details

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    7 Cowardin Ave
    Richmond, VA 23224
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    Realmo Value Estimation

    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.

    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.

    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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