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Property profile & analytics
OFF-MARKET
Retail space
1242 Ctr Ave Portsmouth, VA 23704
Individually Owned
1-yr Hold
Absentee Owner
Free & Clear
Property ID
US87-1140206
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1958
Total area
1,064 SF
Lot
0.07 ac (3,049 SF)
Zoning code
UR
APN
0093-0500
UPID
US87-1140206
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
George C Small JR · 1 yrs held
George C Small JR
since 2024
1 recorded transaction
Zoning & alternative use
UR · Portsmouth, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The Urban Residential UR district is established to accommodate a range of residential development as a principal use, along with mixed use, neighborhood serving commercial development, and institutional uses to encourage diverse development.
Zone name
Urban Residential
General category
MIXED_USE
Zone area
4,377.08 ac
Source
Realmo
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 Portsmouth submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Portsmouth 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$231
Tax year 2023
Assessed value
$41,810
Assessed 2023
Previous assessed
$41,810
+0.0% YoY
Effective rate
0.55%
On assessed value
Assessed land
$19,790
Assessed improvement
$22,020
Land market value
$19,790
Improvement market value
$22,020
Total market value
$41,810
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
1958
Heating
CENTRAL
Cooling
YES
Stories
1
Bathrooms
1
Total area
1,064 SF
Lot
0.07 ac (3,049 SF)
Zoning code
UR
APN
0093-0500
UPID
US87-1140206
Jurisdiction
PORTSMOUTH CITY
Zoning & alternative use
UR · Portsmouth, VAZoning UR · permitted uses
UR · Portsmouth, VA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The Urban Residential UR district is established to accommodate a range of residential development as a principal use, along with mixed use, neighborhood serving commercial development, and institutional uses to encourage diverse development.
Zone name
Urban Residential
General category
MIXED_USE
Zone area
4,377.08 ac
Source
Realmo
Building & site characteristics
From public records
Year built
1958
Heating
CENTRAL
Cooling
Yes
Stories
1
Bathrooms
1
Lot
0.07 ac
Current owner
From public records · entity-resolved
George C Small JR
Individual
Free & Clear · 1 yrs held
Mailing address
2604 CEDAR RD, CHESAPEAKE, VA 23323-3902
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
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
Dec 6, 2024
—
George C Small JR
George C Small JR
Deed
related
—
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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