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Property profile & analytics
OFF-MARKET
Estimated value
$1,635,000
Warehouses
1026 Ruritan Blvd Chesapeake, VA 23324
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US87-1071937
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1987
Total area
6,272 SF
Lot
1.95 ac (84,898 SF)
Zoning code
M1: LIGHT INDUSTRIAL
APN
1290000005690
UPID
US87-1071937
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
$1.62M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.18M
Blend (final)
Blend
$1.64M
Owner & transaction history
1030 Ruritan Boulevard LLC · 4 yrs held
1030 Ruritan Boulevard LLC
since 2022
Last sale
$1.9M
4 recorded transactions
Zoning & alternative use
M1: LIGHT INDUSTRIAL · Chesapeake, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$2.3M
+174.5%
Auto repair, garage
$1.6M
+92.1%
Retail stores
$1.2M
+39.6%
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 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
$1,575,000
ML approach
$1,620,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$2,310,000
Change: +175% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,615,000
Change: +92% · Conversion: Easy
RETAIL STORES
$1,175,000
Change: +40% · Conversion: Moderate
COMMERCIAL (GENERAL)
$1,020,000
Change: +21% · Conversion: Difficult
Blend value · Realmo final
$1.64M
Range $1.47M – $1.80M · ±10% · vs last sale $1.90M (Jun 10 2022)
Last sale anchor
$1.90M
Jun 10 2022
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
$261 / 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
$8,131
Tax year 2019
Assessed value
$1,778,900
Assessed 2023
Previous assessed
$1,058,000
+68.1% YoY
Effective rate
0.46%
On assessed value
Assessed land
$243,600
Assessed improvement
$1,535,300
Land market value
$243,600
Improvement market value
$1,535,300
Total market value
$1,778,900
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
6,272 SF
Lot
1.95 ac (84,898 SF)
Zoning code
M1: LIGHT INDUSTRIAL
APN
1290000005690
UPID
US87-1071937
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
RESTAURANT
Est. value
$2.3M
AUTO REPAIR, GARAGE
Est. value
$1.6M
RETAIL STORES
Est. value
$1.2M
COMMERCIAL (GENERAL)
Est. value
$1.0M
RESTAURANT
AUTO REPAIR, GARAGE
RETAIL STORES
COMMERCIAL (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
1.95 ac
Current owner
From public records · entity-resolved
1030 Ruritan Boulevard LLC
Entity
Mailing address
221 RIV ST STE, HOBOKEN, NJ 07030-5989
Ownership since
2022
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
Oct 17, 2025
—
1030 Ruritan Boulevard LLC
—
Deed
related
$1,740,000 · Woodforest National Bank
Jun 10, 2022
$1,900,000
1030 Ruritan Boulevard LLC
R&d Property Holdings LLC
Special Warranty Deed
—
Nov 1, 2018
—
R&d Property Holdings LLC
—
Deed
related
$577,274 · Union Bank & Trust
Nov 14, 2008
$1,000,000
R And D Property Holdings LLC
Jth Holdings LLC
Warranty Deed
$700,000 · Suntrust 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.
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