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Property profile & analytics
OFF-MARKET
Estimated value
$610,000
Industrial properties
11822 Canon Blvd Newport News, VA 23606-2891
Entity Owned
Free & Clear
Property ID
US87-0946851
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
1985
Total area
5,312 SF
Lot
1.64 ac (71,438 SF)
Zoning code
C4
APN
196000203
UPID
US87-0946851
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
-
McGrath Educational Services Training Center
-
Driver Improvement Clinics Training Center Vocational School
-
Hampton Roads Computer Electronics & Wireless Store
-
Venturenet Inc IT Consulting Firm (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$540k
Comparable Approach
Comparable
$675k
Blend (final)
Blend
$610k
Owner & transaction history
Economic Dev Authority Of City Of N
Economic Dev Authority Of City Of N
since 2025
Last sale
$700,000
2 recorded transactions
Zoning & alternative use
C4 · Newport News, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$705,000
+27.2%
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 Newport News submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Newport News 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%
$585,000
6.5%
$540,000
7%
$500,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$550,000
Current use
COMMERCIAL (GENERAL)
$705,000
Change: +27% · Conversion: Difficult
Blend value · Realmo final
$610k
Range $549k – $671k · ±10% · vs last sale $700k (Dec 17 2025)
Last sale anchor
$700k
Dec 17 2025
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
$115 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$8,381
Tax year 2023
Assessed value
$600,600
Assessed 2023
Previous assessed
$600,600
+0.0% YoY
Effective rate
1.40%
On assessed value
Assessed land
$500,600
Assessed improvement
$100,000
Land market value
$500,600
Improvement market value
$100,000
Total market value
$600,600
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
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Status
Off-Market
Year built
1985
Heating
HEAT PUMP
Stories
1
Total area
5,312 SF
Lot
1.64 ac (71,438 SF)
Zoning code
C4
APN
196000203
UPID
US87-0946851
Jurisdiction
NEWPORT NEWS CITY
Zoning & alternative use
C4 · Newport News, VA
Zoning C4 · permitted uses
C4 · Newport News, VA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Newport News. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$550,000
COMMERCIAL (GENERAL)
Est. value
$705,000
INDUSTRIAL (GENERAL) Current
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
1985
Heating
HEAT PUMP
Stories
1
Lot
1.64 ac
Current owner
From public records · entity-resolved
Economic Dev Authority Of City Of N
Entity
Free & Clear · 0 yrs held
Mailing address
11822 CANON BLVD, NEWPORT NEWS, VA 23606-2891
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2025
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
Dec 17, 2025
$700,000
Economic Dev Authority Of City Of N
James M Nichols JR
Bargain & Sale Deed
—
—
—
Bobby L Bowles JR.
—
Deed Of Trust
related
$113,771 · Sib Mortgage Corp
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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