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Property profile & analytics
OFF-MARKET
Estimated value
$710,000
Investment properties
109 College Pl Norfolk, VA 23510-1907
Entity Owned
8-yr Hold
~
Est. High Equity
Property ID
US87-3358689
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1910
Total area
4,788 SF
Lot
0.05 ac (2,256 SF)
Zoning code
D-3
APN
31536100
UPID
US87-3358689
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
-
Ya Ya Asian Gourmet House Restaurant
-
Erie Car Insurance Marketing & Advertising
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$780k
Comparable Approach
Comparable
$761k
Blend (final)
Blend
$710k
Owner & transaction history
Thebc Properties LLC A Virginia Lim · 8 yrs held
Thebc Properties LLC A Virginia Lim
since 2018
2 recorded transactions
Zoning & alternative use
D-3 · Norfolk, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Source
Adopted Zoning Ordinance
Top alternative use upside
Office building
$945,000
+69.8%
Auto repair, garage
$925,000
+66.7%
Retail stores
$790,000
+42.0%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$845,000
6.5%
$780,000
7%
$725,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$555,000
Current use
OFFICE BUILDING
$945,000
Change: +70% · Conversion: Easy
AUTO REPAIR, GARAGE
$925,000
Change: +67% · Conversion: Difficult
RETAIL STORES
$790,000
Change: +42% · Conversion: Easy
WAREHOUSE, STORAGE
$520,000
Change: -6% · Conversion: Difficult
Blend value · Realmo final
$710k
Range $639k – $781k · ±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
$148 / 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
$11,796
Tax year 2024
Assessed value
$836,600
Assessed 2024
Previous assessed
$817,600
+2.3% YoY
Effective rate
1.41%
On assessed value
Assessed land
$167,400
Assessed improvement
$669,200
Land market value
$167,400
Improvement market value
$669,200
Total market value
$836,600
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
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
Off-Market
Year built
1910
Heating
FORCED AIR
Cooling
YES
Stories
2
Total area
4,788 SF
Lot
0.05 ac (2,256 SF)
Zoning code
D-3
APN
31536100
UPID
US87-3358689
Jurisdiction
NORFOLK CITY
Zoning & alternative use
D-3 · Norfolk, VAZoning D-3 · permitted uses
D-3 · Norfolk, VA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Source
Adopted Zoning Ordinance
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$555,000
OFFICE BUILDING
Est. value
$945,000
AUTO REPAIR, GARAGE
Est. value
$925,000
RETAIL STORES
Est. value
$790,000
WAREHOUSE, STORAGE
Est. value
$520,000
COMMERCIAL (GENERAL) Current
OFFICE BUILDING
AUTO REPAIR, GARAGE
RETAIL STORES
WAREHOUSE, STORAGE
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
1910
Heating
FORCED AIR
Cooling
Yes
Stories
2
Lot
0.05 ac
Current owner
From public records · entity-resolved
Thebc Properties LLC A Virginia Lim
Entity
Mailing address
109 COLLEGE PLA, NORFOLK, VA 23510-1907
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 5, 2018
$796,850
Thebc Properties LLC A Virginia Lim
Krm Properties LLC A Virginia Limit
Warranty Deed
$640,000 · Branch Banking & Trust Company
Feb 2, 2007
$489,710
Krm Properties LLC
Real Estate Acquisitions LLC
Deed
$392,000 · The Old Point National Bank Of Phoe
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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