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Property profile & analytics
OFF-MARKET
Estimated value
$535,000
Medical Office Space
1239 Cedar Rd Chesapeake, VA 23322-7103
Entity Owned
9-yr Hold
Free & Clear
Property ID
US87-1200344
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1998
Total area
6,954 SF
Lot
1.01 ac (44,170 SF)
Zoning code
B2: GENERAL BUSINESS
APN
460000001450
UPID
US87-1200344
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
-
Cade Cinnamond Physician
-
Parker April L Medical Clinic
-
Dumlao Aldo C MD Physician
-
Patient First: Stabley Robert C MD Physician
-
Dr. Billie Y. Blair-Taylor, MD Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$345k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$728k
Blend (final)
Blend
$535k
Owner & transaction history
National Retail Properties LP A Del · 9 yrs held
National Retail Properties LP A Del
since 2017
1 recorded transaction
Zoning & alternative use
B2: GENERAL BUSINESS · Chesapeake, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$860,000
+87.1%
Auto repair, garage
$635,000
+38.4%
Apartment house (5+ units)
$460,000
+0.4%
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 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
$345,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MEDICAL BUILDING
$460,000
Current use
OFFICE BUILDING
$860,000
Change: +87% · Conversion: Easy
AUTO REPAIR, GARAGE
$635,000
Change: +38% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$460,000
Change: +0% · Conversion: Moderate
Blend value · Realmo final
$535k
Range $482k – $589k · ±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
$77 / 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
$23,025
Tax year 2019
Assessed value
$2,440,200
Assessed 2023
Previous assessed
$1,717,700
+42.1% YoY
Effective rate
0.94%
On assessed value
Assessed land
$709,800
Assessed improvement
$1,730,400
Land market value
$709,800
Improvement market value
$1,730,400
Total market value
$2,440,200
Applied tax rate
23.0000
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
1998
Heating
PACKAGE
Cooling
AC.PACKAGE
Stories
1
Units
1
Total area
6,954 SF
Lot
1.01 ac (44,170 SF)
Zoning code
B2: GENERAL BUSINESS
APN
460000001450
UPID
US87-1200344
Jurisdiction
CHESAPEAKE CITY
Zoning & alternative use
B2: GENERAL BUSINESS · Chesapeake, VA
Zoning B2: GENERAL BUSINESS · permitted uses
B2: GENERAL BUSINESS · 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
$460,000
OFFICE BUILDING
Est. value
$860,000
AUTO REPAIR, GARAGE
Est. value
$635,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$460,000
MEDICAL BUILDING Current
OFFICE BUILDING
AUTO REPAIR, GARAGE
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
1998
Heating
PACKAGE
Cooling
Yes
Stories
1
Units
1
Lot
1.01 ac
Current owner
From public records · entity-resolved
National Retail Properties LP A Del
Entity
Free & Clear · 9 yrs held
Mailing address
450 S ORANGE AVE STE #900, ORLANDO, FL 32801-3339
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 26, 2017
$2,750,000
National Retail Properties LP A Del
Primary Care First LLC A Virginia L
Special Warranty 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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