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Property profile & analytics
OFF-MARKET
Estimated value
$5,530,000
Community centers
104 Little Crk Rd Norfolk, VA 23505
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US87-3366530
Property profile
Verified
Property type
Community centers
Use group
MINI-MALL
Year built
1948
Total area
146,946 SF
Lot
4.93 ac (214,838 SF)
Zoning code
C-3
APN
29702400
UPID
US87-3366530
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
$6.66M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$4.25M
Blend (final)
Blend
$5.53M
Owner & transaction history
Times Square Of The South LLC · 2 yrs held
Times Square Of The South LLC
since 2023
Last sale
$5.0M
1 recorded transaction
Zoning & alternative use
C-3 · Norfolk, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$9.2M
+43.1%
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 Norfolk submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Norfolk 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
$6,755,000
ML approach
$6,660,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$6,440,000
Current use
MEDICAL BUILDING
$9,215,000
Change: +43% · Conversion: Difficult
Blend value · Realmo final
$5.53M
Range $4.98M – $6.08M · ±10% · vs last sale $5.00M (Dec 13 2023)
Last sale anchor
$5.00M
Dec 13 2023
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
$38 / 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 2024Property tax & assessments
Tax year 2024
Tax billed
$72,059
Tax year 2024
Assessed value
$5,764,700
Assessed 2024
Previous assessed
$5,689,700
+1.3% YoY
Effective rate
1.25%
On assessed value
Assessed land
$2,900,400
Assessed improvement
$2,864,300
Land market value
$2,900,400
Improvement market value
$2,864,300
Total market value
$5,764,700
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
Community centers
Use group
MINI-MALL
Status
Off-Market
Year built
1948
Heating
FORCED AIR
Cooling
YES
Stories
3
Total area
146,946 SF
Lot
4.93 ac (214,838 SF)
Zoning code
C-3
APN
29702400
UPID
US87-3366530
Jurisdiction
NORFOLK CITY
Zoning & alternative use
C-3 · Norfolk, VA
Zoning C-3 · permitted uses
C-3 · Norfolk, VA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Norfolk. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$6.4M
MEDICAL BUILDING
Est. value
$9.2M
NEIGHBORHOOD: SHOPPING CENTER Current
MEDICAL BUILDING
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
1948
Heating
FORCED AIR
Cooling
Yes
Stories
3
Lot
4.93 ac
Current owner
From public records · entity-resolved
Times Square Of The South LLC
Entity
Mailing address
2106 LLEWELLYN AVE, NORFOLK, VA 23517-2237
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
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 13, 2023
$5,000,000
Times Square Of The South LLC
Midtown Development Corporation
Special Warranty Deed
$5,000,000 · Party III
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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