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Property profile & analytics
FOR LEASE
Medical Office Space
7009 Forest Hill Ave Richmond, VA 23225
Entity Owned
3-yr Hold
Free & Clear
Property ID
US87-1297014
For Lease
1 / 3
$30 SF/Yr
7009 Forest Hill Ave, Richmond, VA 23225
View Listing →
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL CLINIC
Year built
1973
Construction
TYPE NOT SPECIFIED
Total area
6,300 SF
Lot
1.04 ac (45,302 SF)
Zoning code
B-2 COMMUNITY BUSINESS
APN
C-004-0823-024
UPID
US87-1297014
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
-
Kanawha Medical Supply Home Health Care Service Medical Supply Store
-
Micro Management Accounting Firm Tax Preparation
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.23M
CAP Approach
CAP
$1.39M
Comparable Approach
Comparable
$1.36M
Blend (final)
Blend
$1.33M
Owner & transaction history
Sxcw Properties II LLC · 3 yrs held
Sxcw Properties II LLC
since 2022
Last sale
$1.3M
1 recorded transaction
Zoning & alternative use
B-2 COMMUNITY BUSINESS · Richmond, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.8M
+68.9%
Auto repair, garage
$1.1M
+9.3%
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
$1,160,000
ML approach
$1,225,000
CAP Approach
CAP Return
Estimation
6%
$1,505,000
6.5%
$1,390,000
7%
$1,290,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$1,050,000
Current use
RESTAURANT
$1,775,000
Change: +69% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,145,000
Change: +9% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$1,035,000
Change: -1% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$1,015,000
Change: -3% · Conversion: Moderate
COMMERCIAL (GENERAL)
$995,000
Change: -5% · Conversion: Easy
OFFICE BUILDING
$930,000
Change: -11% · Conversion: Easy
RETAIL STORES
$910,000
Change: -14% · Conversion: Difficult
Blend value · Realmo final
$1.33M
Range $1.19M – $1.46M · ±10% · vs last sale $1.33M (Aug 11 2022)
Last sale anchor
$1.33M
Aug 11 2022
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
$210 / 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
$1,211,000
Assessed 2024
Previous assessed
$931,000
+30.1% YoY
Effective rate
0.00%
On assessed value
Assessed land
$678,000
Assessed improvement
$533,000
Land market value
$678,000
Improvement market value
$533,000
Total market value
$1,211,000
Applied tax rate
4.0000
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
Medical Office Space
Use group
MEDICAL CLINIC
Status
For Lease
Year built
1973
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
YES
Stories
1
Bathrooms
3
Total area
6,300 SF
Lot
1.04 ac (45,302 SF)
Zoning code
B-2 COMMUNITY BUSINESS
APN
C-004-0823-024
UPID
US87-1297014
Jurisdiction
RICHMOND CITY
Zoning & alternative use
B-2 COMMUNITY BUSINESS · Richmond, VA
Zoning B-2 COMMUNITY BUSINESS · permitted uses
B-2 COMMUNITY 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
MEDICAL BUILDING Current
Est. value
$1.1M
RESTAURANT
Est. value
$1.8M
AUTO REPAIR, GARAGE
Est. value
$1.1M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.0M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.0M
COMMERCIAL (GENERAL)
Est. value
$995,000
OFFICE BUILDING
Est. value
$930,000
RETAIL STORES
Est. value
$910,000
MEDICAL BUILDING Current
RESTAURANT
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
APARTMENT HOUSE (5+ UNITS)
COMMERCIAL (GENERAL)
OFFICE BUILDING
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
1973
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
Yes
Stories
1
Bathrooms
3
Lot
1.04 ac
Current owner
From public records · entity-resolved
Sxcw Properties II LLC
Entity
Free & Clear · 3 yrs held
Mailing address
7935 COUNCIL PL, MATTHEWS, NC 28105-1006
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 11, 2022
$1,325,000
Sxcw Properties II LLC
William C Pergerson
Warranty Deed
—
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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