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Property profile & analytics
FOR LEASE
Strip malls
7017 Forest Hill Ave Richmond, VA 23225
Entity Owned
20-yr Hold
~
Est. High Equity
Property ID
US87-0011715
For Lease
1 / 3
$845,000
7017 Forest Hill Ave, Richmond, VA 23225
View Listing →
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
2005
Construction
TYPE NOT SPECIFIED
Total area
5,545 SF
Lot
1.97 ac (85,726 SF)
Zoning code
B-2 COMMUNITY BUSINESS
APN
C-004-0823-068
UPID
US87-0011715
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
-
GameStop Arcade & Gaming Center Electronics & Wireless Store
-
Five Guys Restaurant Take-out & Catering
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.11M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$845k
Owner & transaction history
Chippenham North Assoc LLC · 20 yrs held
Chippenham North Assoc LLC
since 2006
2 recorded transactions
Zoning & alternative use
B-2 COMMUNITY BUSINESS · Richmond, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.0M
+10.9%
Medical building
$925,000
+1.4%
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%
$1,200,000
6.5%
$1,105,000
7%
$1,030,000
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$910,000
Current use
AUTO REPAIR, GARAGE
$1,010,000
Change: +11% · Conversion: Difficult
MEDICAL BUILDING
$925,000
Change: +1% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$890,000
Change: -2% · Conversion: Difficult
COMMERCIAL (GENERAL)
$875,000
Change: -4% · Conversion: Easy
OFFICE BUILDING
$820,000
Change: -10% · Conversion: Moderate
RETAIL STORES
$800,000
Change: -12% · Conversion: Easy
Blend value · Realmo final
$845k
Range $761k – $930k · ±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
$152 / 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
$1,928,000
Assessed 2024
Previous assessed
$1,928,000
+0.0% YoY
Effective rate
0.00%
On assessed value
Assessed land
$1,195,000
Assessed improvement
$733,000
Land market value
$1,195,000
Improvement market value
$733,000
Total market value
$1,928,000
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
For Lease
Year built
2005
Construction
TYPE NOT SPECIFIED
Heating
NONE
Buildings
2
Stories
1
Total area
5,545 SF
Lot
1.97 ac (85,726 SF)
Zoning code
B-2 COMMUNITY BUSINESS
APN
C-004-0823-068
UPID
US87-0011715
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
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$910,000
AUTO REPAIR, GARAGE
Est. value
$1.0M
MEDICAL BUILDING
Est. value
$925,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$890,000
COMMERCIAL (GENERAL)
Est. value
$875,000
OFFICE BUILDING
Est. value
$820,000
RETAIL STORES
Est. value
$800,000
NEIGHBORHOOD: SHOPPING CENTER Current
AUTO REPAIR, GARAGE
MEDICAL BUILDING
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
2005
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Buildings
2
Lot
1.97 ac
Current owner
From public records · entity-resolved
Chippenham North Assoc LLC
Entity
Mailing address
5607 GRV AVE, RICHMOND, VA 23226-2101
Ownership since
2006
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 17, 2006
—
Chippenham North Assoc LLC
Chippenham North LLC
Quit Claim Deed
$4,160,000 · Principal Com'l Fndg
Dec 30, 2004
$1,100,000
Chippenham North LLC
Woody Real Estate Investment LLC
Grant 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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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