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Property profile & analytics
OFF-MARKET
Estimated value
$2,700,000
Retail space
117 21st St Norfolk, VA 23517-2246
Entity Owned
3-yr Hold
Free & Clear
Property ID
US87-3368369
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1952
Total area
5,472 SF
Lot
0.25 ac (10,803 SF)
Zoning code
C-2
APN
7965000
UPID
US87-3368369
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
-
Virginia Massage Co Alternative Medicine Practice Spa & Massage Center
-
Pixel 210 Wedding Service Photography Service
-
Refuge Foster Care Service Social Service Agency
-
LabelsNLuv Fashion & Selfie Studio Clothing & Fashion Store
-
Labels N Luv Fashion Studio/ Boutique Clothing & Fashion Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.67M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.42M
Blend (final)
Blend
$2.70M
Owner & transaction history
Res Ferebee LLC · 3 yrs held
Res Ferebee LLC
since 2023
Last sale
$2.0M
2 recorded transactions
Zoning & alternative use
C-2 · Norfolk, VA
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
$2,700,000
ML approach
$2,670,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$2.70M
Range $2.43M – $2.97M · ±10% · vs last sale $2.00M (Apr 21 2023)
Last sale anchor
$2.00M
Apr 21 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
$493 / 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
$16,396
Tax year 2024
Assessed value
$1,311,700
Assessed 2024
Previous assessed
$1,175,000
+11.6% YoY
Effective rate
1.25%
On assessed value
Assessed land
$302,500
Assessed improvement
$1,009,200
Land market value
$302,500
Improvement market value
$1,009,200
Total market value
$1,311,700
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
1952
Heating
FORCED AIR
Cooling
YES
Buildings
2
Stories
2
Total area
5,472 SF
Lot
0.25 ac (10,803 SF)
Zoning code
C-2
APN
7965000
UPID
US87-3368369
Jurisdiction
NORFOLK CITY
Zoning & alternative use
C-2 · Norfolk, VAZoning 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
Source
Adopted Zoning Ordinance
Building & site characteristics
From public records
Year built
1952
Heating
FORCED AIR
Cooling
Yes
Stories
2
Buildings
2
Lot
0.25 ac
Current owner
From public records · entity-resolved
Res Ferebee LLC
Entity
Free & Clear · 3 yrs held
Mailing address
841 45TH ST, NORFOLK, VA 23508-2007
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
Apr 21, 2023
$2,000,000
Res Ferebee LLC
George A Christie
Warranty Deed
—
Apr 5, 2023
—
George A Christie
Angelo And Jack Company LLC
Deed
—
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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