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Property profile & analytics
OFF-MARKET
Estimated value
$20,165,000
Commercial land
701 Cary St Richmond, VA 23219-3927
Entity Owned
5-yr Hold
Free & Clear
Property ID
US87-1060968
Property profile
Verified
Property type
Commercial land
Use group
VACANT COMMERCIAL LAND
Year built
1977
Construction
STEEL FRAME
Total area
692,814 SF
Lot
1.94 ac (84,419 SF)
Zoning code
B-4 CENTRAL BUSINESS
APN
W-000-0018-025
UPID
US87-1060968
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
-
Beautiful Balance Hair Salon Nail Salon
-
Beautiful Balance LLC (Bike/Boat/Book/etc) Store Cosmetic Store
-
701 W. Cary Apartment Building
-
One James River Plaza Corporate Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$16.03M
Blend (final)
Blend
$20.17M
Owner & transaction history
De 700 Canal Place LLC · 5 yrs held
De 700 Canal Place LLC
since 2021
1 recorded transaction
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$20.17M
Range $18.15M – $22.18M · ±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
$29 / 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
$10,054,000
Assessed 2024
Previous assessed
$10,054,000
+0.0% YoY
Effective rate
0.00%
On assessed value
Assessed land
$10,054,000
Land market value
$10,054,000
Total market value
$10,054,000
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
Commercial land
Use group
VACANT COMMERCIAL LAND
Status
Off-Market
Year built
1977
Construction
STEEL FRAME
Heating
NONE
Cooling
CENTRAL
Stories
22
Bathrooms
162
Total area
692,814 SF
Lot
1.94 ac (84,419 SF)
Zoning code
B-4 CENTRAL BUSINESS
APN
W-000-0018-025
UPID
US87-1060968
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
1977
Construction
STEEL FRAME
Heating
NONE
Cooling
Yes
Stories
22
Bathrooms
162
Lot
1.94 ac
Current owner
From public records · entity-resolved
De 700 Canal Place LLC
Entity
Free & Clear · 5 yrs held
Mailing address
120 TREDEGAR ST, RICHMOND, VA 23219-4306
Ownership since
2021
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
Jun 21, 2021
—
De 700 Canal Place LLC
Dominion Energy Services INC
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.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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