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Property profile & analytics
OFF-MARKET
Estimated value
$885,000
Warehouses
1000 Ruritan Blvd Chesapeake, VA 23324-3646
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US87-3991367
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1987
Total area
9,530 SF
Lot
2.15 ac (93,741 SF)
Zoning code
M1: LIGHT INDUSTRIAL
APN
1290000005680
UPID
US87-3991367
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
-
Virginia Storage Systems Construction Company
-
Dan River Co. Electric Utility Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.17M
Comparable Approach
Comparable
$567k
Blend (final)
Blend
$885k
Owner & transaction history
1000 Ruritan LLC · 2 yrs held
1000 Ruritan LLC
since 2023
3 recorded transactions
Zoning & alternative use
M1: LIGHT INDUSTRIAL · Chesapeake, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$1.3M
+4.7%
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 Chesapeake submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Chesapeake 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%
$1,265,000
6.5%
$1,165,000
7%
$1,085,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$1,280,000
Current use
OFFICE BUILDING
$1,340,000
Change: +5% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$1,110,000
Change: -13% · Conversion: Easy
Blend value · Realmo final
$885k
Range $797k – $974k · ±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
$93 / 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 2019Property tax & assessments
Tax year 2019
Tax billed
$8,482
Tax year 2019
Assessed value
$973,200
Assessed 2023
Previous assessed
$920,200
+5.8% YoY
Effective rate
0.87%
On assessed value
Assessed land
$269,000
Assessed improvement
$704,200
Land market value
$269,000
Improvement market value
$704,200
Total market value
$973,200
Applied tax rate
31.0000
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1987
Heating
HEAT PUMP
Stories
1
Units
1
Total area
9,530 SF
Lot
2.15 ac (93,741 SF)
Zoning code
M1: LIGHT INDUSTRIAL
APN
1290000005680
UPID
US87-3991367
Jurisdiction
CHESAPEAKE CITY
Zoning & alternative use
M1: LIGHT INDUSTRIAL · Chesapeake, VA
Zoning M1: LIGHT INDUSTRIAL · permitted uses
M1: LIGHT INDUSTRIAL · Chesapeake, VA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Chesapeake. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$1.3M
OFFICE BUILDING
Est. value
$1.3M
INDUSTRIAL (GENERAL)
Est. value
$1.1M
WAREHOUSE, STORAGE Current
OFFICE BUILDING
INDUSTRIAL (GENERAL)
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
1987
Heating
HEAT PUMP
Stories
1
Units
1
Lot
2.15 ac
Current owner
From public records · entity-resolved
1000 Ruritan LLC
Entity
Mailing address
224 PNE IS QUAY, CHESAPEAKE, VA 23322-7191
Ownership since
2023
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
Jul 27, 2023
—
1000 Ruritan LLC
James W Bryant JR
Deed
—
Jan 28, 2020
—
James W Bryant JR
—
Deed
related
$400,000 · Townebank
Jan 10, 2005
$625,000
James Bryant JR
Whitten Ventures L L C
Warranty Deed
$650,000 · Bank Of Hampton Roads
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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