Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$20,955,000
Warehouses
1090 35th St Norfolk, VA 23508-3013
Entity Owned
17-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US87-3351775
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
2005
Total area
151,284 SF
Lot
1.81 ac (78,887 SF)
Zoning code
I-1
APN
32264400
UPID
US87-3351775
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
-
Public Storage Storage Facility
-
Gio Express Inc Trucking Company
-
Mhi Warehouse Warehouse & Storage
-
Just Right Janitorial Services, LLC General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$20.43M
Comparable Approach
Comparable
$22.11M
Blend (final)
Blend
$20.96M
Owner & transaction history
Msc Norfolk LLC · 17 yrs held
Msc Norfolk LLC
since 2008
1 recorded transaction
Zoning & alternative use
I-1 · Norfolk, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$29.8M
+80.8%
Auto repair, garage
$29.2M
+77.5%
Retail stores
$24.9M
+51.1%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$22,135,000
6.5%
$20,430,000
7%
$18,970,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$16,480,000
Current use
OFFICE BUILDING
$29,790,000
Change: +81% · Conversion: Difficult
AUTO REPAIR, GARAGE
$29,245,000
Change: +77% · Conversion: Easy
RETAIL STORES
$24,905,000
Change: +51% · Conversion: Moderate
INDUSTRIAL (GENERAL)
$19,975,000
Change: +21% · Conversion: Easy
COMMERCIAL (GENERAL)
$17,545,000
Change: +6% · Conversion: Difficult
Blend value · Realmo final
$20.96M
Range $18.86M – $23.05M · ±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
$139 / 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
$181,976
Tax year 2024
Assessed value
$14,558,100
Assessed 2024
Previous assessed
$14,096,600
+3.3% YoY
Effective rate
1.25%
On assessed value
Assessed land
$1,025,500
Assessed improvement
$13,532,600
Land market value
$1,025,500
Improvement market value
$13,532,600
Total market value
$14,558,100
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
MINI-WAREHOUSE, STORAGE
Status
Off-Market
Year built
2005
Heating
FORCED AIR
Cooling
YES
Stories
3
Total area
151,284 SF
Lot
1.81 ac (78,887 SF)
Zoning code
I-1
APN
32264400
UPID
US87-3351775
Jurisdiction
NORFOLK CITY
Zoning & alternative use
I-1 · Norfolk, VA
Zoning I-1 · permitted uses
I-1 · 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
WAREHOUSE, STORAGE Current
Est. value
$16.5M
OFFICE BUILDING
Est. value
$29.8M
AUTO REPAIR, GARAGE
Est. value
$29.2M
RETAIL STORES
Est. value
$24.9M
INDUSTRIAL (GENERAL)
Est. value
$20.0M
COMMERCIAL (GENERAL)
Est. value
$17.5M
WAREHOUSE, STORAGE Current
OFFICE BUILDING
AUTO REPAIR, GARAGE
RETAIL STORES
INDUSTRIAL (GENERAL)
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
2005
Heating
FORCED AIR
Cooling
Yes
Stories
3
Lot
1.81 ac
Current owner
From public records · entity-resolved
Msc Norfolk LLC
Entity
Mailing address
701 WESTERN AVE, GLENDALE, CA 91201-2349
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2008
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
Aug 14, 2008
$8,950,000
Msc Norfolk LLC
Bay Storage LLC
Bargain And Sale Deed
$7,765,000 · Bank Of America NA
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 1090 35th St?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
