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Property profile & analytics
OFF-MARKET
Estimated value
$39,055,000
Office buildings
9954 Mayland Dr Henrico, VA 23233-1464
Entity Owned
14-yr Hold
Absentee Owner
Free & Clear
Property ID
US87-0116390
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1997
Total area
382,944 SF
Lot
18.17 ac (791,398 SF)
Zoning code
M-1
APN
749-758-7718
UPID
US87-0116390
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
$39.63M
Blend (final)
Blend
$39.06M
Owner & transaction history
Dr III LLC · 14 yrs held
Dr III LLC
since 2011
4 recorded transactions
Zoning & alternative use
M-1 · Henrico, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$63.8M
+12.6%
Neighborhood: shopping center
$62.9M
+11.1%
Apartment house (5+ units)
$61.6M
+8.7%
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
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
OFFICE BUILDING
$56,635,000
Current use
MEDICAL BUILDING
$63,790,000
Change: +13% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$62,915,000
Change: +11% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$61,560,000
Change: +9% · Conversion: Easy
COMMERCIAL (GENERAL)
$60,465,000
Change: +7% · Conversion: Easy
RETAIL STORES
$55,170,000
Change: -3% · Conversion: Moderate
Blend value · Realmo final
$39.06M
Range $35.15M – $42.96M · ±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
$102 / 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
$365,681
Tax year 2023
Assessed value
$44,058,000
Assessed 2024
Previous assessed
$44,058,000
+0.0% YoY
Effective rate
0.83%
On assessed value
Assessed land
$3,561,200
Assessed improvement
$40,496,800
Land market value
$3,561,200
Improvement market value
$40,496,800
Total market value
$44,058,000
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1997
Heating
FORCED AIR
Stories
6
Total area
382,944 SF
Lot
18.17 ac (791,398 SF)
Zoning code
M-1
APN
749-758-7718
UPID
US87-0116390
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
OFFICE BUILDING Current
Est. value
$56.6M
MEDICAL BUILDING
Est. value
$63.8M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$62.9M
APARTMENT HOUSE (5+ UNITS)
Est. value
$61.6M
COMMERCIAL (GENERAL)
Est. value
$60.5M
RETAIL STORES
Est. value
$55.2M
OFFICE BUILDING Current
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
1997
Heating
FORCED AIR
Stories
6
Lot
18.17 ac
Current owner
From public records · entity-resolved
Dr III LLC
Entity
Free & Clear · 14 yrs held
Mailing address
255 WASHINGTON ST STE #300, NEWTON, MA 02458-1634
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2011
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 29, 2011
—
Dr III LLC
—
Deed Of Trust
related
$16,540,000 · Manufacturers Traders & Trust
Oct 17, 2011
$12,402,570
Dr III LLC
Bank Of America
Grant Deed
—
Jan 10, 2011
$31,270,000
Bank Of America NA
Inland Wstn Richmond Mayland L
Grant Deed
related
—
May 11, 2005
$53,000,000
Western Rich May Inland
England Greg L
Grant Deed
—
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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