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Property profile & analytics
OFF-MARKET
Estimated value
$1,545,000
Shopping centers
7415 Midlothian Tpke North Chesterfield, VA 23225-6411
Entity Owned
11-yr Hold
~
Est. High Equity
Property ID
US87-1786444
Property profile
Verified
Property type
Shopping centers
Use group
SHOPPING CENTER COMMON AREA
Year built
1982
Total area
10,050 SF
Lot
15.38 ac (670,083 SF)
Zoning code
C5 - GEN BUSINESS DIST
APN
763-70-62-64-100-000
UPID
US87-1786444
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
-
New Grand Mart Grocery & Convenience Store Food Market
-
Noodles & Friends Restaurant
-
Chippenham Square Shopping Center & Mall
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.01M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.55M
Owner & transaction history
Redco Properties LLC · 11 yrs held
Redco Properties LLC
since 2015
5 recorded transactions
Zoning & alternative use
C5 - GEN BUSINESS DIST · North Chesterfield, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.8M
+10.9%
Medical building
$1.7M
+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 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%
$2,175,000
6.5%
$2,005,000
7%
$1,865,000
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$1,650,000
Current use
AUTO REPAIR, GARAGE
$1,830,000
Change: +11% · Conversion: Difficult
MEDICAL BUILDING
$1,675,000
Change: +1% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$1,615,000
Change: -2% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,585,000
Change: -4% · Conversion: Easy
OFFICE BUILDING
$1,485,000
Change: -10% · Conversion: Moderate
RETAIL STORES
$1,450,000
Change: -12% · Conversion: Easy
Blend value · Realmo final
$1.55M
Range $1.39M – $1.70M · ±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
$154 / 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
$81,287
Tax year 2024
Assessed value
$8,364,200
Assessed 2024
Previous assessed
$5,439,600
+53.8% YoY
Effective rate
0.97%
On assessed value
Assessed land
$3,685,500
Assessed improvement
$4,678,700
Land market value
$3,685,500
Improvement market value
$4,678,700
Total market value
$8,364,200
Applied tax rate
5.0000
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
Shopping centers
Use group
SHOPPING CENTER COMMON AREA
Status
Off-Market
Year built
1982
Heating
NONE
Stories
1
Total area
10,050 SF
Lot
15.38 ac (670,083 SF)
Zoning code
C5 - GEN BUSINESS DIST
APN
763-70-62-64-100-000
UPID
US87-1786444
Jurisdiction
CHESTERFIELD
Zoning & alternative use
C5 - GEN BUSINESS DIST · North Chesterfield, VA
Zoning C5 - GEN BUSINESS DIST · permitted uses
C5 - GEN BUSINESS DIST · North Chesterfield, VA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
North Chesterfield. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$1.7M
AUTO REPAIR, GARAGE
Est. value
$1.8M
MEDICAL BUILDING
Est. value
$1.7M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.6M
COMMERCIAL (GENERAL)
Est. value
$1.6M
OFFICE BUILDING
Est. value
$1.5M
RETAIL STORES
Est. value
$1.5M
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
1982
Heating
NONE
Stories
1
Lot
15.38 ac
Current owner
From public records · entity-resolved
Redco Properties LLC
Entity
Mailing address
PO BOX 13470, RICHMOND, VA 23225-8470
Ownership since
2015
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 24, 2015
$700,000
Redco Properties LLC
Chippenham Square LLC
Grant Deed
$1,700,000 · Branch Bk&tr
Dec 17, 2012
—
East Coast Waffles INC
Waffle House INC
Quit Claim Deed
related
—
Dec 17, 2012
$295,000
Waffle House INC
Chippenham Square LLC
Grant Deed
—
—
—
Chippenham Square LLC
—
Deed Of Trust
related
$5,590,000 · First Va Cmnty Bk
—
—
Chippenham Square LLC
—
Deed Of Trust
related
$6,000,000 · * Other Institutional Lenders
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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