Back to Search
Property profile & analytics
FOR LEASE
Medical Office Space
9900 Independence Park Dr Richmond, VA 23233
Entity Owned
Free & Clear
Property ID
US87-3930328
For Lease
1 / 5
$1,810,000
9900 Independence Park Dr, Richmond, VA 23233
View Listing →
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2005
Total area
15,559 SF
Lot
2.01 ac (87,556 SF)
Zoning code
M-1
APN
752-756-3770
UPID
US87-3930328
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
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.81M
Owner & transaction history
Wfdf Med I 9900 Richmond Owner LLC
Wfdf Med I 9900 Richmond Owner LLC
since 2025
4 recorded transactions
Zoning & alternative use
M-1 · Henrico, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$2.8M
+9.3%
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
MEDICAL BUILDING
$2,590,000
Current use
AUTO REPAIR, GARAGE
$2,835,000
Change: +9% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$2,555,000
Change: -1% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$2,500,000
Change: -3% · Conversion: Moderate
COMMERCIAL (GENERAL)
$2,455,000
Change: -5% · Conversion: Easy
OFFICE BUILDING
$2,300,000
Change: -11% · Conversion: Easy
RETAIL STORES
$2,240,000
Change: -14% · Conversion: Difficult
Blend value · Realmo final
$1.81M
Range $1.63M – $1.99M · ±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
$116 / 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
$29,671
Tax year 2023
Assessed value
$3,574,800
Assessed 2024
Previous assessed
$3,574,800
+0.0% YoY
Effective rate
0.83%
On assessed value
Assessed land
$394,000
Assessed improvement
$3,180,800
Land market value
$394,000
Improvement market value
$3,180,800
Total market value
$3,574,800
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
For Lease
Year built
2005
Heating
NONE
Cooling
AC.PACKAGE
Stories
1
Total area
15,559 SF
Lot
2.01 ac (87,556 SF)
Zoning code
M-1
APN
752-756-3770
UPID
US87-3930328
Jurisdiction
HENRICO
Zoning & alternative use
M-1 · Henrico, VA
Zoning M-1 · permitted uses
M-1 · 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
MEDICAL BUILDING Current
Est. value
$2.6M
AUTO REPAIR, GARAGE
Est. value
$2.8M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.6M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.5M
COMMERCIAL (GENERAL)
Est. value
$2.5M
OFFICE BUILDING
Est. value
$2.3M
RETAIL STORES
Est. value
$2.2M
MEDICAL BUILDING Current
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
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
2005
Heating
NONE
Cooling
Yes
Stories
1
Lot
2.01 ac
Current owner
From public records · entity-resolved
Wfdf Med I 9900 Richmond Owner LLC
Entity
Free & Clear · 0 yrs held
Mailing address
255 WASHINGTON ST STE #300, NEWTON, MA 02458-1634
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 23, 2025
$2,000,000
Wfdf Med I 9900 Richmond Owner LLC
Snh Independence Park LLC
Special Warranty Deed
—
Nov 29, 2011
—
Shh Independence Park LLC
Independence Park LLC
Quit Claim Deed
related
—
Jul 16, 2007
$4,475,000
Independence Park LLC
Gmh Virginia LLC
Grant Deed
—
Dec 5, 2005
—
Hock Lot 3 Va LLC
—
Deed Of Trust
related
$5,000,000 · Regions Bank
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
