Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    707 12th N Sheppard St Richmond, VA 23221-1713
    Back to Search
    Property profile & analytics

    707 12th N Sheppard St, Richmond, VA 23221-1713

    View on Map
    • Commercial land
    • 0.00 lot acres
    Off-Market
    Last Sale Dec 23, 2020
    $550,000
    Property ID
    US87-0611596
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Atelier Owens / (Bike/Boat/Book/etc) Store
    • R J's Barber Shop / Barber Shop

    Property Details for 707 12th N Sheppard St

    Lot size
    0.00 lot acres
    Zone code
    R-48 MULTI FAMILY
    Property type
    Commercial land
    APN
    W-000-1290-035
    APU
    W0001290035

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Apr 16, 2025 — Culter Museum District LLC Parsons Museum District LLC Deed —
    Dec 23, 2020 $550,000 Parsons Museum District LLC Ararat Land Co Grant Deed —
    Dec 23, 2020 — Cutler Museum District LLC — Deed · related $3.3M · Sevier Cnty Bk
    May 22, 2008 $192,200 Ararat Land Co Atkins Ruth Grant Deed $190k · Atkins Ruth (te)
    — — Ararat Land Co — Deed Of Trust · related $160k · Essex Bk
    — — Cutler Museum District LLC — Deed Of Trust · related $3.3M · Sevier Cnty Bk

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Richmond
    County
    Richmond City
    State
    Virginia
    Longitude
    -77.4734
    Latitude
    37.561
    CBSA code
    40060
    CBSA name
    RICHMOND, VA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2020
    $20
    $4,000
    $0.00
    $4,000
    -
    $4,000
    $0.00
    $4,000

    Comparable in this City

    • Value Estimation by Request
      0.20 Acres

      207 Hamilton St

      VACANT COMMERCIAL LAND
      207 Hamilton St, Richmond, VA 23221-2601
      View Details
    • Value Estimation by Request
      1.99 Acres

      Richmond, VA 23221

      VACANT COMMERCIAL LAND
      Richmond, VA 23221
      View Details
    • Value Estimation by Request
      0.09 Acres

      3008 Idlewood Ave

      VACANT COMMERCIAL LAND
      3008 Idlewood Ave, Richmond, VA 23221-3531
      View Details
    • Value Estimation
      $1,050,000
      0.08 Acres

      1009 Lafayette St

      VACANT COMMERCIAL LAND
      1009 Lafayette St, Richmond, VA 23221-1156
      View Details
    • Value Estimation by Request
      2.68 Acres

      Richmond, VA 23221

      VACANT COMMERCIAL LAND
      Richmond, VA 23221
      View Details
    • Value Estimation by Request
      0.18 Acres

      3800 Douglasdale Rd

      VACANT COMMERCIAL LAND
      3800 Douglasdale Rd, Richmond, VA 23221-3815
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      1,732 SF

      Carytown Retail/Office Building For Sale

      Retail/office building in Carytown with flexible zoning and parking.
      25 S Nansemond St, Richmond, VA 23221
      View Details
    • $439,000
      Pending

      Museum District Duplex For Sale

      1962 duplex in the heart of the Museum District.
      3114 Park Ave, Richmond, VA 23221
      View Details
    • Contact for pricing
      3,560 SF

      Functional Office Space For Sale

      Office or medical space near Libbie & Grove neighborhoods.
      4312 Grove Ave, Richmond, VA 23221
      View Details
    • Contact for pricing
      6,300 SF

      Retail Space on Cary Street

      Highly visible retail space available for sale in Richmond, VA.
      3322 W Cary St, Richmond, VA 23221
      View Details
    • Contact for pricing

      Carytown Retail/Office Building For Sale

      Small retail/office building in Carytown with flexible zoning and parking.
      25 S Nansemond St, Richmond, VA 23221
      View Details
    • Contact for pricing
      Pending

      Spacious Brick Duplex Near Carytown

      Two spacious units near Carytown with separate utilities.
      3553 Grove Ave, Richmond, VA 23221
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,500 SF

      Retail Space on Cary Street

      Retail space with high foot traffic and off-street parking.
      3218-3228 W Cary St, Richmond, VA 23221
      View Details
    • Contact for pricing
      1,520 SF

      Museum District Retail/Office Space

      Retail or office space in walkable Museum District neighborhood.
      606-616 N Sheppard St, Richmond, VA 23221
      View Details
    • Contact for pricing
      2,811 SF

      Retail Space in Carytown Exchange

      Retail space available in Richmond's Carytown Exchange.
      3550 W Cary St, Richmond, VA 23221
      View Details
    • Contact for pricing
      1,520 SF

      Office/Retail Space for Lease

      Available suite ideal for professional or wellness services.
      10 S Crenshaw Ave, Richmond, VA 23221
      View Details
    • Contact for pricing
      764 SF

      Retail Space in Historic Setting

      Renovated retail space with off-street parking in Richmond, VA.
      3120-3158 W Cary St, Richmond, VA 23221
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    707 12th N Sheppard St
    Richmond, VA 23221-1713
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    707 12th N Sheppard St, Richmond, VA, 23221
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!