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Property profile & analytics
OFF-MARKET
Estimated value
$575,000
Medical Office Space
1230 Progressive Dr Chesapeake, VA 23320-0203
Entity Owned
Absentee Owner
Free & Clear
Property ID
US87-1257471
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1996
Total area
10,701 SF
Lot
0.97 ac (42,079 SF)
Zoning code
PUD: PLANNED UNIT DEVELOP
APN
373002000890
UPID
US87-1257471
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
-
Konikoff Bryan M DDS Dental Office
-
Kyung Cheon Min Dental Office
-
Glenn Familant Dental Office
-
Brittany Heather Wood Dental Office
-
Harry Eugene Jenkins Dental Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$445k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$702k
Blend (final)
Blend
$575k
Owner & transaction history
VOLVO PROGRESSIVE PARTNERS L C
VOLVO PROGRESSIVE PARTNERS L C
Zoning & alternative use
PUD: PLANNED UNIT DEVELOP · Chesapeake, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$955,000
+41.5%
Auto repair, garage
$855,000
+26.8%
Restaurant
$855,000
+26.6%
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
by Request
ML approach
$445,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MEDICAL BUILDING
$675,000
Current use
OFFICE BUILDING
$955,000
Change: +41% · Conversion: Easy
AUTO REPAIR, GARAGE
$855,000
Change: +27% · Conversion: Difficult
RESTAURANT
$855,000
Change: +27% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$575,000
Change: -15% · Conversion: Moderate
Blend value · Realmo final
$575k
Range $518k – $633k · ±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
$54 / 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
$24,045
Tax year 2019
Assessed value
$2,200,300
Assessed 2023
Previous assessed
$2,538,300
-13.3% YoY
Effective rate
1.09%
On assessed value
Assessed land
$1,014,300
Assessed improvement
$1,186,000
Land market value
$1,014,300
Improvement market value
$1,186,000
Total market value
$2,200,300
Applied tax rate
43.0000
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1996
Heating
HEAT PUMP
Stories
1
Units
1
Total area
10,701 SF
Lot
0.97 ac (42,079 SF)
Zoning code
PUD: PLANNED UNIT DEVELOP
APN
373002000890
UPID
US87-1257471
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
MEDICAL BUILDING Current
Est. value
$675,000
OFFICE BUILDING
Est. value
$955,000
AUTO REPAIR, GARAGE
Est. value
$855,000
RESTAURANT
Est. value
$855,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$575,000
MEDICAL BUILDING Current
OFFICE BUILDING
AUTO REPAIR, GARAGE
RESTAURANT
APARTMENT HOUSE (5+ UNITS)
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
1996
Heating
HEAT PUMP
Stories
1
Units
1
Lot
0.97 ac
Current owner
From public records · entity-resolved
VOLVO PROGRESSIVE PARTNERS L C
Entity
Free & Clear · 0 yrs held
Mailing address
125 86TH ST, VIRGINIA BEACH, VA 23451-1817
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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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