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7 E 16Th St, Richmond, VA 23224
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Estimated value (blended)
$885k
Range $797k – $974k (±10%)
Property ID
US87-3977891
Property summary
AI-generated overview
This exceptional 8,779-square-foot retail property, located at 7 E 16th St in Richmond, VA, presents a unique investment opportunity. Built in 1939 and renovated in 2004, this single-story, freestanding building boasts a classic design and excellent visibility with 132 feet of frontage on E 16th St. The property sits on a 0.586-acre lot (25,506.13 sq ft), zoned B-5 - Business (Central Business), offering significant potential for land development. The building features approximately 45 parking spaces, a significant advantage in a busy commercial district. Previously occupied by a long-term tenant, this space is now available for lease, providing a turnkey opportunity for a variety of retail uses. The property's location in Richmond's vibrant commercial submarket ensures high traffic and excellent exposure. This is a rare chance to acquire a well-maintained, established retail space with substantial expansion potential. The property's history of successful tenancy demonstrates its strong market appeal. The ample parking and convenient location make this an ideal space for businesses seeking high visibility and accessibility. This property is ready for immediate occupancy.
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1900
Construction
TYPE NOT SPECIFIED
Total area
8,395 SF
Lot
0.59 ac (25,506 SF)
Zoning code
MULTIPLE ZONING
APN
S-000-0196-011
UPID
US87-3977891
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Discount Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$798k
Blend (final)
Blend
$885k
Owner & transaction history
since 2025
Last sale
$950,000
4 recorded transactions
Zoning & alternative use
MULTIPLE ZONING · Richmond, VA
Top alternative use upside
Medical building
$1.4M
+119.2%
Neighborhood: shopping center
$1.4M
+116.2%
Office building
$1.2M
+94.6%
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
17% off on annual
Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
Full NOI build-up · 6 steps
7 alternative uses screened
Sensitivity value band
Source audit · 10 inputs
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Summary
1
Valuation conclusion
Included free
Estimated market value
$885k
Value range
$797k – $974k
±10% around blend
Estimated value / SF
$105 / SF
Confidence
None
1 county-verified comps
Property data
88
Market benchmarks
100
Comparable evidence
10
Income certainty
100
$797k
blend $885k
$974k
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
8,395 SF
Lot area
0.59 ac
Year built
1900
Stories
1
APN
S-000-0196-011
Assessed value
$973,000
Annual tax
$20
3
Income approach: direct capitalization
Partial preview
Estimated Stabilized NOI, derived from market rent, vacancy and expense benchmarks. Actual property income not reported.
Estimated market rent / SF
Potential gross income
Vacancy allowance
Effective gross income
Benchmark operating expenses
Stabilized NOI
Property tax
$20
Selected cap rate
4
Sales comparison
Partial preview
Sales approach indication
$798k
Weighted, 0 comps · none confidence
Evidence
1 found
County-verified recorded sales
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$885k
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
ZIP 27 sales
$76
+39%
Submarket 175 sales
$144
-27%
County 116 sales
$135
-22%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $105/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Medical Building
Gross theoretical uplift
+119%
vs current-use indication
Neighborhood: Shopping Center
Office Building
Commercial (general)
Industrial (general)
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
8
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
Not available
Operating expenses
Modeled
Market rent
Market benchmark
Actual rent roll
Not available
Tenant leases
Not available
Physical condition
Not inspected
Conversion costs
Not available
Not analyzed due to unavailable source data: tenant leases, physical condition and capital
requirements were not available for this desktop analysis. Cost Approach excluded due to
availability of income evidence.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
17% off on annual
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 1 sales
NOI build-up · 9 steps
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Overview
Selected market yield
958,150.00%
Selected cap rate for this retail space
Derived from the Richmond market rent, vacancy and expense benchmarks for this use type.
NOI (est.)
$96k *
Last sale · Jun 2025
$950k
* derived from a real price signal at a 7% cap
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$10
Move the market yield to see immediate price impact.
Value / SF
$0
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
958,149.50%958,150.00%958,150.50%
$86k
$9
$9
$9
$96k
$10
$10
$9
$105k
$11
$11
$11
NOI sensitivity ±10% across the selected-rate band (±0.5 pp) — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
1 found
None confidence · county-verified
Property tax & assessments
Tax year 2020Property tax & assessments
Tax year 2020
Tax billed
$20
Tax year 2020
Assessed value
$973,000
Assessed 2024
Previous assessed
$950,000
+2.4% YoY
Effective rate
0.00%
On assessed value
Assessed land
$436,000
Assessed improvement
$537,000
Land market value
$436,000
Improvement market value
$537,000
Total market value
$973,000
Applied tax rate
8.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
For Lease
Year built
1900
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
YES
Stories
1
Rooms
5
Bathrooms
1
Total area
8,395 SF
Lot
0.59 ac (25,506 SF)
Zoning code
MULTIPLE ZONING
APN
S-000-0196-011
UPID
US87-3977891
Jurisdiction
RICHMOND CITY
Zoning & alternative use
MULTIPLE ZONING · Richmond, VAZoning MULTIPLE ZONING · permitted uses
MULTIPLE ZONING · Richmond, VA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1900
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
Yes
Stories
1
Rooms
5
Bathrooms
1
Lot
0.59 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
MULTIPLE ZONING
Jurisdiction
Richmond, VA
Recorded code
MULTIPLE ZONING
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for MULTIPLE ZONING in Richmond, VA.
What opens after registration
Zoning profile
2 official documentsVerified municipal sources with file download
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
Registration is required before the official district profile is shown.
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Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
One complete report on every paid plan · 5 · 30 · 100 reports per month.
Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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