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Property profile & analytics
OFF-MARKET
Estimated value
$1,525,000
Office buildings
8401 Mayland Dr, Henrico, VA 23294-4648
Entity Owned
2-yr Hold
Free & Clear
Property ID
US87-0931410
Property summary
AI-generated overview
This exceptional 12,178 square foot office building, located at 8401 Mayland Drive in Richmond, Virginia's Parham South submarket, presents a compelling leasing opportunity. Built in 1977, this two-story Class C building features traditional office space ideal for multiple tenants. The property boasts convenient access to Parham Road and I-64, offering seamless commutes for employees and clients. The zoning is O-2, and the APN is 7587520352. While there are no elevators, the building's design facilitates easy access to the first-floor office space. This full-service lease allows businesses to focus on operations, minimizing administrative burdens. The central location provides easy access to all areas of Richmond, making it an attractive option for businesses seeking a professional and accessible environment. The building's footprint reflects a floor area ratio (FAR) of 0.29. This property offers a strategic location for businesses seeking a well-situated office space in a thriving Richmond submarket. The address is 8401 Mayland Dr, Henrico, VA 23294.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1977
Total area
12,178 SF
Lot
0.96 ac (41,992 SF)
Zoning code
O-2
APN
758-752-0352
UPID
US87-0931410
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
-
Isalis (Bike/Boat/Book/etc) Store
-
Party City Party Supply Store (Bike/Boat/Book/etc) Store
-
Skunk Funk Big Box & Wholesale Store
-
Carl's Trading Co Hat Shop
-
Bushka's Kitchen LLC (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.51M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.17M
Blend (final)
Blend
$1.53M
Owner & transaction history
That Building Off Jims Road LLC · 2 yrs held
That Building Off Jims Road LLC
since 2023
Last sale
$1.6M
3 recorded transactions
Zoning & alternative use
O-2 · Henrico, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$2.2M
+23.2%
Medical building
$2.0M
+12.6%
Neighborhood: shopping center
$2.0M
+11.1%
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 Henrico submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Henrico 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
$1,385,000
ML approach
$1,510,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,800,000
Current use
AUTO REPAIR, GARAGE
$2,220,000
Change: +23% · Conversion: Difficult
MEDICAL BUILDING
$2,030,000
Change: +13% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$2,000,000
Change: +11% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$1,960,000
Change: +9% · Conversion: Easy
COMMERCIAL (GENERAL)
$1,925,000
Change: +7% · Conversion: Easy
RETAIL STORES
$1,755,000
Change: -3% · Conversion: Moderate
Blend value · Realmo final
$1.53M
Range $1.37M – $1.68M · ±10% · vs last sale $1.60M (Oct 23 2023)
Last sale anchor
$1.60M
Oct 23 2023
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
$125 / 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
$4,540
Tax year 2023
Assessed value
$534,100
Assessed 2024
Previous assessed
$534,100
+0.0% YoY
Effective rate
0.85%
On assessed value
Assessed land
$174,300
Assessed improvement
$359,800
Land market value
$174,300
Improvement market value
$359,800
Total market value
$534,100
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1977
Heating
FORCED AIR
Cooling
YES
Stories
2
Total area
12,178 SF
Lot
0.96 ac (41,992 SF)
Zoning code
O-2
APN
758-752-0352
UPID
US87-0931410
Jurisdiction
HENRICO
Zoning & alternative use
O-2 · Henrico, VA
Zoning O-2 · permitted uses
O-2 · Henrico, VA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Henrico. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$1.8M
AUTO REPAIR, GARAGE
Est. value
$2.2M
MEDICAL BUILDING
Est. value
$2.0M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.0M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.0M
COMMERCIAL (GENERAL)
Est. value
$1.9M
RETAIL STORES
Est. value
$1.8M
OFFICE BUILDING Current
AUTO REPAIR, GARAGE
MEDICAL BUILDING
NEIGHBORHOOD: SHOPPING CENTER
APARTMENT HOUSE (5+ UNITS)
COMMERCIAL (GENERAL)
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
1977
Heating
FORCED AIR
Cooling
Yes
Stories
2
Lot
0.96 ac
Current owner
From public records · entity-resolved
That Building Off Jims Road LLC
Entity
Free & Clear · 2 yrs held
Mailing address
8401 MAYLAND DR STE A, HENRICO, VA 23294-4648
Ownership since
2023
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
Oct 23, 2023
$1,600,000
That Building Off Jims Road LLC
Jps Development Co
Warranty Deed
—
Nov 7, 2001
$163,000
George Ellis IV
The Boyd Group
Grant Deed
$160,000 · First Union National Bank
—
—
Jps Dev Co
—
Deed Of Trust
related
$435,000 · First Cmnty Bk
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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