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Property profile & analytics
OFF-MARKET
Estimated value
$835,000
Retail space
1153 Military Hwy Norfolk, VA 23502-2459
Entity Owned
12-yr Hold
~
Est. High Equity
Property ID
US87-3367536
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2002
Total area
5,092 SF
Lot
1.13 ac (49,397 SF)
Zoning code
C-2
APN
5414
UPID
US87-3367536
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
-
Jimmy John's Take-out & Catering Catering Service
-
Tropical Smoothie Cafe Restaurant
-
Stanton Optical (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$890k
Comparable Approach
Comparable
$702k
Blend (final)
Blend
$835k
Owner & transaction history
Michael LLC · 12 yrs held
Michael LLC
since 2013
4 recorded transactions
Zoning & alternative use
C-2 · Norfolk, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$1.0M
+19.6%
Auto repair, garage
$985,000
+17.4%
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%
$965,000
6.5%
$890,000
7%
$825,000
Alternative Use
Use
Estimation
RETAIL STORES
$840,000
Current use
OFFICE BUILDING
$1,005,000
Change: +20% · Conversion: Easy
AUTO REPAIR, GARAGE
$985,000
Change: +17% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$670,000
Change: -20% · Conversion: Difficult
Blend value · Realmo final
$835k
Range $752k – $919k · ±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
$164 / 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
$16,410
Tax year 2024
Assessed value
$1,312,800
Assessed 2024
Previous assessed
$1,296,800
+1.2% YoY
Effective rate
1.25%
On assessed value
Assessed land
$716,100
Assessed improvement
$596,700
Land market value
$716,100
Improvement market value
$596,700
Total market value
$1,312,800
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
2002
Heating
FORCED AIR
Cooling
YES
Stories
1
Total area
5,092 SF
Lot
1.13 ac (49,397 SF)
Zoning code
C-2
APN
5414
UPID
US87-3367536
Jurisdiction
NORFOLK CITY
Zoning & alternative use
C-2 · Norfolk, VA
Zoning C-2 · permitted uses
C-2 · 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
RETAIL STORES Current
Est. value
$840,000
OFFICE BUILDING
Est. value
$1.0M
AUTO REPAIR, GARAGE
Est. value
$985,000
INDUSTRIAL (GENERAL)
Est. value
$670,000
RETAIL STORES Current
OFFICE BUILDING
AUTO REPAIR, GARAGE
INDUSTRIAL (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
2002
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
1.13 ac
Current owner
From public records · entity-resolved
Michael LLC
Entity
Mailing address
900 GRANBY ST STE #101, NORFOLK, VA 23510-2531
Ownership since
2013
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
Nov 15, 2018
—
Michael LLC
—
Deed
related
$1,650,000 · Newport News Shipbuilding Employees Cred
Jul 22, 2013
—
Michael LLC
Natalie LLC
Gift Deed
related
$1,844,542 · The Old Point National Bank Of Phoe
May 6, 2008
$2,400,000
Natalie LLC
Millennium Crossing LLC
Bargain And Sale Deed
$1,920,000 · State Farm Bank Fsb
Oct 13, 2005
$1,250,000
D & R Hotels LLC
Millennium Crossing LLC
Deed
$955,500 · First Federal Savings Bank Of Va
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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