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Property profile & analytics
FOR LEASE
Office buildings
7301 Forest Ave Richmond, VA 23226
Entity Owned
8-yr Hold
~
Est. High Equity
Property ID
US87-1081567
For Lease
1 / 2
$5,145,000
7301 Forest Ave, Richmond, VA 23226
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1987
Total area
42,906 SF
Lot
3.55 ac (154,725 SF)
Zoning code
R-6C
APN
763-745-0817
UPID
US87-1081567
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
-
Dr. James L. Combs, MD Ophthalmologist
-
Dr. Henry A. Bowen, MD Physician
-
Catherine Medina, LCSW Psychotherapist
-
Edythe Bouldin, LPC Psychotherapist Mental Health Clinic
-
Dr. JK K. Harris, MD Physician Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$6.79M
Blend (final)
Blend
$5.15M
Owner & transaction history
Rgrm Comb LLC A Delaware Limited Li · 8 yrs held
Rgrm Comb LLC A Delaware Limited Li
since 2018
3 recorded transactions
Zoning & alternative use
R-6C · 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
Alternative Use
Use
Estimation
OFFICE BUILDING
$7,925,000
Current use
AUTO REPAIR, GARAGE
$7,815,000
Change: -1% · Conversion: Difficult
MEDICAL BUILDING
$7,145,000
Change: -10% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$7,050,000
Change: -11% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$6,900,000
Change: -13% · Conversion: Easy
COMMERCIAL (GENERAL)
$6,775,000
Change: -15% · Conversion: Easy
Blend value · Realmo final
$5.15M
Range $4.63M – $5.66M · ±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
$120 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$40,816
Tax year 2023
Assessed value
$4,801,900
Assessed 2024
Previous assessed
$4,801,900
+0.0% YoY
Effective rate
0.85%
On assessed value
Assessed land
$657,600
Assessed improvement
$4,144,300
Land market value
$657,600
Improvement market value
$4,144,300
Total market value
$4,801,900
Applied tax rate
1.0000
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
Office buildings
Use group
OFFICE BUILDING
Status
For Lease
Year built
1987
Heating
NONE
Cooling
AC.PACKAGE
Stories
3
Total area
42,906 SF
Lot
3.55 ac (154,725 SF)
Zoning code
R-6C
APN
763-745-0817
UPID
US87-1081567
Jurisdiction
HENRICO
Zoning & alternative use
R-6C · Richmond, VA
Zoning R-6C · permitted uses
R-6C · 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
OFFICE BUILDING Current
Est. value
$7.9M
AUTO REPAIR, GARAGE
Est. value
$7.8M
MEDICAL BUILDING
Est. value
$7.1M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$7.1M
APARTMENT HOUSE (5+ UNITS)
Est. value
$6.9M
COMMERCIAL (GENERAL)
Est. value
$6.8M
OFFICE BUILDING Current
AUTO REPAIR, GARAGE
MEDICAL BUILDING
NEIGHBORHOOD: SHOPPING CENTER
APARTMENT HOUSE (5+ UNITS)
COMMERCIAL (GENERAL)
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
1987
Heating
NONE
Cooling
Yes
Stories
3
Lot
3.55 ac
Current owner
From public records · entity-resolved
Rgrm Comb LLC A Delaware Limited Li
Entity
Mailing address
9893 GEORGETOWN PIKE STE #520, GREAT FALLS, VA 22066-2617
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 6, 2021
—
Rgrm Cmob LLC
—
Deed
related
$4,809,210 · Valley National Bank
Apr 10, 2018
$4,650,000
Rgrm Comb LLC A Delaware Limited Li
Glen Forest Professional Center Ass
Special Warranty Deed
$5,645,000 · Readycap Commerical LLC
—
—
Glen Forest Professionals
—
Deed Of Trust
related
$850,000 · Suntrust Mortgage INC
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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