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Property profile & analytics
OFF-MARKET
Estimated value
$15,210,000
Office buildings
912 Grace St Richmond, VA 23284-9065
Individually Owned
13-yr Hold
Free & Clear
Property ID
US87-1061053
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2014
Construction
STONE
Total area
78,995 SF
Lot
0.21 ac (9,148 SF)
Zoning code
B-4 CENTRAL BUSINESS
APN
W-000-0480-038
UPID
US87-1061053
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
-
Grace Street Center (VCU) High School
-
VCU Globe building Apartment Building
-
Ram City Market Grocery & Convenience Store Food Market
-
Global Education Office School District Office
-
Virginia Commonwealth University Global Student Success Program Graduate School
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$17.43M
Comparable Approach
Comparable
$16.47M
Blend (final)
Blend
$15.21M
Owner & transaction history
Virginia Commonwealth Universi · 13 yrs held
Virginia Commonwealth Universi
since 2013
3 recorded transactions
Zoning & alternative use
B-4 CENTRAL BUSINESS · Richmond, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$22.2M
+90.3%
Auto repair, garage
$14.4M
+23.2%
Medical building
$13.2M
+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%
$18,880,000
6.5%
$17,430,000
7%
$16,185,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$11,685,000
Current use
RESTAURANT
$22,230,000
Change: +90% · Conversion: Moderate
AUTO REPAIR, GARAGE
$14,390,000
Change: +23% · Conversion: Difficult
MEDICAL BUILDING
$13,160,000
Change: +13% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$12,980,000
Change: +11% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$12,700,000
Change: +9% · Conversion: Easy
COMMERCIAL (GENERAL)
$12,475,000
Change: +7% · Conversion: Easy
RETAIL STORES
$11,380,000
Change: -3% · Conversion: Moderate
Blend value · Realmo final
$15.21M
Range $13.69M – $16.73M · ±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
$193 / 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
$199,680
Tax year 2020
Assessed value
$16,640,000
Assessed 2024
Previous assessed
$16,664,000
-0.1% YoY
Effective rate
1.20%
On assessed value
Assessed land
$1,011,000
Assessed improvement
$15,629,000
Land market value
$1,011,000
Improvement market value
$15,629,000
Total market value
$16,640,000
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
OFFICE BUILDING
Status
Off-Market
Year built
2014
Construction
STONE
Heating
YES
Cooling
YES
Stories
7
Rooms
4
Bathrooms
1
Total area
78,995 SF
Lot
0.21 ac (9,148 SF)
Zoning code
B-4 CENTRAL BUSINESS
APN
W-000-0480-038
UPID
US87-1061053
Jurisdiction
RICHMOND CITY
Zoning & alternative use
B-4 CENTRAL BUSINESS · Richmond, VA
Zoning B-4 CENTRAL BUSINESS · permitted uses
B-4 CENTRAL BUSINESS · 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
$11.7M
RESTAURANT
Est. value
$22.2M
AUTO REPAIR, GARAGE
Est. value
$14.4M
MEDICAL BUILDING
Est. value
$13.2M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$13.0M
APARTMENT HOUSE (5+ UNITS)
Est. value
$12.7M
COMMERCIAL (GENERAL)
Est. value
$12.5M
RETAIL STORES
Est. value
$11.4M
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
2014
Construction
STONE
Heating
YES
Cooling
Yes
Stories
7
Rooms
4
Bathrooms
1
Lot
0.21 ac
Current owner
From public records · entity-resolved
Virginia Commonwealth Universi
Individual
Free & Clear · 13 yrs held
Mailing address
PO BOX 843040, RICHMOND, VA 23284-3040
Ownership since
2013
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
Feb 15, 2013
—
Virginia Commonwealth Universi
Commonwealth Of Va
Quit Claim Deed
—
May 6, 2011
—
Commonwealth Of Va
Grace Dev Co
Grant Deed
related
—
Apr 6, 2011
—
Commonwealth Of Virginia
Grace Dev Co
Grant Deed
related
—
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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