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Property profile & analytics
OFF-MARKET
Estimated value
$2,220,000
Distribution centers
904 Leigh St Richmond, VA 23220
Entity Owned
12-yr Hold
Free & Clear
Property ID
US87-3896015
Property profile
Verified
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Year built
2006
Construction
TYPE NOT SPECIFIED
Total area
24,043 SF
Lot
1.34 ac (58,283 SF)
Zoning code
M-1 LIGHT INDUSTRIAL
APN
N-000-0390-005
UPID
US87-3896015
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
-
In the Cut Hair Studio Barber Shop
-
Wilson Company General Contractor
-
Blackbird Collective, LLC Coworking & Hybrid Office
-
Sol Locs Hair Salon
-
Trap Cardio Gym & Fitness Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.76M
Blend (final)
Blend
$2.22M
Owner & transaction history
Axtell LLC · 12 yrs held
Axtell LLC
since 2014
3 recorded transactions
Zoning & alternative use
M-1 LIGHT INDUSTRIAL · Richmond, VA
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
WAREHOUSE, STORAGE
$2,370,000
Current use
Blend value · Realmo final
$2.22M
Range $2.00M – $2.44M · ±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
$92 / 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
$2,904,000
Assessed 2024
Previous assessed
$2,904,000
+0.0% YoY
Effective rate
0.00%
On assessed value
Assessed land
$915,000
Assessed improvement
$1,989,000
Land market value
$915,000
Improvement market value
$1,989,000
Total market value
$2,904,000
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
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Status
Off-Market
Year built
2006
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
YES
Stories
1
Rooms
14
Bathrooms
2
Total area
24,043 SF
Lot
1.34 ac (58,283 SF)
Zoning code
M-1 LIGHT INDUSTRIAL
APN
N-000-0390-005
UPID
US87-3896015
Jurisdiction
RICHMOND CITY
Zoning & alternative use
M-1 LIGHT INDUSTRIAL · Richmond, VAZoning M-1 LIGHT INDUSTRIAL · permitted uses
M-1 LIGHT INDUSTRIAL · Richmond, VA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Source
code of ordinances
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$2.4M
WAREHOUSE, STORAGE Current
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
2006
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
Yes
Stories
1
Rooms
14
Bathrooms
2
Lot
1.34 ac
Current owner
From public records · entity-resolved
Axtell LLC
Entity
Free & Clear · 12 yrs held
Mailing address
512 N 3RD ST, RICHMOND, VA 23219-1324
Ownership since
2014
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 22, 2014
$1,650,000
Axtell LLC
Cab Props LLC
Grant Deed
—
Nov 4, 2004
$450,000
Cab Properties LLC
Lewis,george SR & John J
Grant Deed
$350,000 · John J Lewis
—
—
Cab Properties LLC
—
Deed Of Trust
related
$1,200,000 · Suntrust Bk/tallahassee
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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