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Property profile & analytics
OFF-MARKET
Estimated value
$2,910,000
Office buildings
909 Franklin St Richmond, VA 23284-9006
Entity Owned
Free & Clear
Property ID
US87-0879185
Property profile
Verified
Property type
Office buildings
Use group
PROFESSIONAL BUILDING
Year built
1900
Construction
TYPE NOT SPECIFIED
Total area
14,128 SF
Lot
0.75 ac (32,887 SF)
Zoning code
R-73 MULTI FAMILY
APN
W-000-0403-007
UPID
US87-0879185
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$3.12M
Comparable Approach
Comparable
$3.28M
Blend (final)
Blend
$2.91M
Owner & transaction history
VIRGINIA COMMONWEALTH UNIV REAL EST SERVICES
VIRGINIA COMMONWEALTH UNIV REAL EST SERVICES
Zoning & alternative use
R-73 MULTI FAMILY · Richmond, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$4.0M
+90.3%
Auto repair, garage
$2.6M
+23.2%
Medical building
$2.4M
+12.6%
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%
$3,375,000
6.5%
$3,115,000
7%
$2,895,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$2,090,000
Current use
RESTAURANT
$3,975,000
Change: +90% · Conversion: Moderate
AUTO REPAIR, GARAGE
$2,575,000
Change: +23% · Conversion: Difficult
MEDICAL BUILDING
$2,355,000
Change: +13% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$2,320,000
Change: +11% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$2,270,000
Change: +9% · Conversion: Easy
COMMERCIAL (GENERAL)
$2,230,000
Change: +7% · Conversion: Easy
RETAIL STORES
$2,035,000
Change: -3% · Conversion: Moderate
Blend value · Realmo final
$2.91M
Range $2.62M – $3.20M · ±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
$206 / 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
$48,864
Tax year 2020
Assessed value
$4,072,000
Assessed 2024
Previous assessed
$3,480,000
+17.0% YoY
Effective rate
1.20%
On assessed value
Assessed land
$1,316,000
Assessed improvement
$2,756,000
Land market value
$1,316,000
Improvement market value
$2,756,000
Total market value
$4,072,000
Applied tax rate
2.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
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
PROFESSIONAL BUILDING
Status
Off-Market
Year built
1900
Construction
TYPE NOT SPECIFIED
Heating
YES
Stories
2
Rooms
30
Bathrooms
7
Total area
14,128 SF
Lot
0.75 ac (32,887 SF)
Zoning code
R-73 MULTI FAMILY
APN
W-000-0403-007
UPID
US87-0879185
Jurisdiction
RICHMOND CITY
Zoning & alternative use
R-73 MULTI FAMILY · Richmond, VA
Zoning R-73 MULTI FAMILY · permitted uses
R-73 MULTI FAMILY · 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
$2.1M
RESTAURANT
Est. value
$4.0M
AUTO REPAIR, GARAGE
Est. value
$2.6M
MEDICAL BUILDING
Est. value
$2.4M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.3M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.3M
COMMERCIAL (GENERAL)
Est. value
$2.2M
RETAIL STORES
Est. value
$2.0M
OFFICE BUILDING Current
RESTAURANT
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
1900
Construction
TYPE NOT SPECIFIED
Heating
YES
Stories
2
Rooms
30
Bathrooms
7
Lot
0.75 ac
Current owner
From public records · entity-resolved
VIRGINIA COMMONWEALTH UNIV REAL EST SERVICES
Individual
Free & Clear · 0 yrs held
Mailing address
PO BOX 843040, RICHMOND, VA 23284-3040
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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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