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Property profile & analytics
OFF-MARKET
Estimated value
$975,000
Office buildings
1157 Military Hwy Ste 101b Chesapeake, VA 23320-2358
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US87-0047708
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1985
Total area
10,003 SF
Lot
0.62 ac (27,007 SF)
Zoning code
B3: HIGHWAY SERVICE
APN
206001000720
UPID
US87-0047708
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
-
CoolSculpting Medical Clinic
-
Slim Weight Loss Clinic Weight Loss Service
-
East Coast Repairs & Fab LLC Auto Repair Shop Vehicle Inspection Center
-
Assure Wellness Group Chesapeake VA Medical Clinic
-
Shattered Pieces Ministries, Inc. Church
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.01M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.12M
Blend (final)
Blend
$975k
Owner & transaction history
R And R Housing LLC · 2 yrs held
R And R Housing LLC
since 2023
Last sale
$975,000
2 recorded transactions
Zoning & alternative use
B3: HIGHWAY SERVICE · Chesapeake, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
$945,000
ML approach
$1,010,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,410,000
Current use
WAREHOUSE, STORAGE
$1,400,000
Change: -1% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$1,165,000
Change: -17% · Conversion: Difficult
Blend value · Realmo final
$975k
Range $878k – $1.07M · ±10% · vs last sale $975k (Jul 13 2023)
Last sale anchor
$975k
Jul 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
$97 / 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
$10,296
Tax year 2019
Assessed value
$1,215,700
Assessed 2023
Previous assessed
$1,271,900
-4.4% YoY
Effective rate
0.85%
On assessed value
Assessed land
$403,000
Assessed improvement
$812,700
Land market value
$403,000
Improvement market value
$812,700
Total market value
$1,215,700
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1985
Heating
HEAT PUMP
Stories
20
Units
1
Total area
10,003 SF
Lot
0.62 ac (27,007 SF)
Zoning code
B3: HIGHWAY SERVICE
APN
206001000720
UPID
US87-0047708
Jurisdiction
CHESAPEAKE CITY
Zoning & alternative use
B3: HIGHWAY SERVICE · Chesapeake, VA
Zoning B3: HIGHWAY SERVICE · permitted uses
B3: HIGHWAY SERVICE · 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
OFFICE BUILDING Current
Est. value
$1.4M
WAREHOUSE, STORAGE
Est. value
$1.4M
INDUSTRIAL (GENERAL)
Est. value
$1.2M
OFFICE BUILDING Current
WAREHOUSE, STORAGE
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
1985
Heating
HEAT PUMP
Stories
20
Units
1
Lot
0.62 ac
Current owner
From public records · entity-resolved
R And R Housing LLC
Entity
Mailing address
1113 BATTLEFIELD BLVD N, CHESAPEAKE, VA 23320-4735
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
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 13, 2023
$975,000
R And R Housing LLC
John T Atkinson
Warranty Deed
$825,000 · Party III
May 11, 2007
$800,000
John T Atkinson
Chesapeake Enterprises
Warranty Deed
$375,000 · B B & T
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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