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Property profile & analytics
OFF-MARKET
Estimated value
$6,015,000
Retail space
1116 Volvo Pkwy Ste 100 Chesapeake, VA 23320-2803
Entity Owned
6-yr Hold
~
Est. High Equity
Property ID
US87-1968633
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2018
Total area
19,399 SF
Lot
2.32 ac (101,016 SF)
Zoning code
PUD: PLANNED UNIT DEVELOP
APN
280000001023
UPID
US87-1968633
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
$5.49M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$5.43M
Blend (final)
Blend
$6.02M
Owner & transaction history
Bond Street Fund 22 LLC · 6 yrs held
Bond Street Fund 22 LLC
since 2020
Last sale
$6.6M
2 recorded transactions
Zoning & alternative use
PUD: PLANNED UNIT DEVELOP · Chesapeake, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$8.6M
+137.2%
Restaurant
$7.1M
+96.6%
Auto repair, garage
$5.4M
+48.5%
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
$5,965,000
ML approach
$5,485,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$3,635,000
Current use
APARTMENT HOUSE (5+ UNITS)
$8,620,000
Change: +137% · Conversion: Difficult
RESTAURANT
$7,145,000
Change: +97% · Conversion: Easy
AUTO REPAIR, GARAGE
$5,395,000
Change: +48% · Conversion: Difficult
Blend value · Realmo final
$6.02M
Range $5.41M – $6.62M · ±10% · vs last sale $6.60M (Jan 22 2020)
Last sale anchor
$6.60M
Jan 22 2020
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
$310 / 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
$39,213
Tax year 2019
Assessed value
$6,391,400
Assessed 2023
Previous assessed
$6,125,400
+4.3% YoY
Effective rate
0.61%
On assessed value
Assessed land
$1,507,400
Assessed improvement
$4,884,000
Land market value
$1,507,400
Improvement market value
$4,884,000
Total market value
$6,391,400
Applied tax rate
42.0000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
2018
Heating
NONE
Stories
1
Units
1
Total area
19,399 SF
Lot
2.32 ac (101,016 SF)
Zoning code
PUD: PLANNED UNIT DEVELOP
APN
280000001023
UPID
US87-1968633
Jurisdiction
CHESAPEAKE CITY
Zoning & alternative use
PUD: PLANNED UNIT DEVELOP · Chesapeake, VA
Zoning PUD: PLANNED UNIT DEVELOP · permitted uses
PUD: PLANNED UNIT DEVELOP · 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
RETAIL STORES Current
Est. value
$3.6M
APARTMENT HOUSE (5+ UNITS)
Est. value
$8.6M
RESTAURANT
Est. value
$7.1M
AUTO REPAIR, GARAGE
Est. value
$5.4M
RETAIL STORES Current
APARTMENT HOUSE (5+ UNITS)
RESTAURANT
AUTO REPAIR, GARAGE
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
2018
Heating
NONE
Stories
1
Units
1
Lot
2.32 ac
Current owner
From public records · entity-resolved
Bond Street Fund 22 LLC
Entity
Mailing address
2727 LYNDON B JOHNSON FWY STE #806, DALLAS, TX 75234-7334
Ownership since
2020
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
Jan 22, 2020
$6,600,000
Bond Street Fund 22 LLC
Volvo Commons LLC
Special Warranty Deed
$4,760,000 · Morgan Stanley Bank NA
Dec 27, 2017
—
Volvo Commons LLC
—
Deed
related
$4,210,000 · Townebank
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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