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Property profile & analytics
OFF-MARKET
Estimated value
$1,195,000
Industrial properties
701 Johnston Willis Dr North Chesterfield, VA 23236-3953
Entity Owned
17-yr Hold
Free & Clear
Property ID
US87-3755144
Property profile
Verified
Property type
Industrial properties
Use group
MIXED USE (COMMERCIAL/INDUSTRIAL)
Year built
1989
Total area
5,434 SF
Lot
2 ac (87,120 SF)
Zoning code
I1 - LT INDUSTRIAL DIST
APN
746-70-75-59-600-000
UPID
US87-3755144
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
-
WEWIN University University
-
International Christian Ministries, Inc. Church Mosque
-
OC Brown Ministries Church
-
New Jerusalem ICM Church
-
Prophet Joel V. Brown Church
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.05M
Comparable Approach
Comparable
$1.12M
Blend (final)
Blend
$1.20M
Owner & transaction history
Millmar Holdings LLC · 17 yrs held
Millmar Holdings LLC
since 2008
1 recorded transaction
Zoning & alternative use
I1 - LT INDUSTRIAL DIST · North Chesterfield, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$1.8M
+35.3%
Restaurant
$1.5M
+15.5%
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 North Chesterfield submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs North Chesterfield 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%
$1,130,000
6.5%
$1,045,000
7%
$970,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$1,325,000
Current use
OFFICE BUILDING
$1,790,000
Change: +35% · Conversion: Easy
RESTAURANT
$1,530,000
Change: +15% · Conversion: Difficult
Blend value · Realmo final
$1.20M
Range $1.08M – $1.31M · ±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
$220 / 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 2024Property tax & assessments
Tax year 2024
Tax billed
$21,456
Tax year 2024
Assessed value
$2,264,200
Assessed 2024
Previous assessed
$1,870,700
+21.0% YoY
Effective rate
0.95%
On assessed value
Assessed land
$357,200
Assessed improvement
$1,907,000
Land market value
$357,200
Improvement market value
$1,907,000
Total market value
$2,264,200
Applied tax rate
2.0000
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
Industrial properties
Use group
MIXED USE (COMMERCIAL/INDUSTRIAL)
Status
Off-Market
Year built
1989
Heating
NONE
Buildings
2
Stories
1
Total area
5,434 SF
Lot
2 ac (87,120 SF)
Zoning code
I1 - LT INDUSTRIAL DIST
APN
746-70-75-59-600-000
UPID
US87-3755144
Jurisdiction
CHESTERFIELD
Zoning & alternative use
I1 - LT INDUSTRIAL DIST · North Chesterfield, VAZoning I1 - LT INDUSTRIAL DIST · permitted uses
I1 - LT INDUSTRIAL DIST · North Chesterfield, VA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$1.3M
OFFICE BUILDING
Est. value
$1.8M
RESTAURANT
Est. value
$1.5M
COMMERCIAL (GENERAL) Current
OFFICE BUILDING
RESTAURANT
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
1989
Heating
NONE
Stories
1
Buildings
2
Lot
2 ac
Current owner
From public records · entity-resolved
Millmar Holdings LLC
Entity
Free & Clear · 17 yrs held
Mailing address
14000 PRINCESS MARY RD, CHESTERFIELD, VA 23838-2157
Ownership since
2008
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
Sep 25, 2008
$2,170,750
Millmar Holdings LLC
Wisteria Properties Lc
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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