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Property profile & analytics
OFF-MARKET
Grocery and convenience stores
1243 Norview Ave Norfolk, VA 23513-2048
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US87-3355363
Property profile
Verified
Property type
Grocery and convenience stores
Use group
CONVENIENCE STORE (W/FUEL PUMP)
Year built
1964
Total area
1,512 SF
Lot
0.64 ac (27,835 SF)
Zoning code
C-2
APN
41701400
UPID
US87-3355363
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
-
Sentry Racecoast Auto Repair Shop
-
Marathon Gas Station
-
ATM Atm
-
CITGO Gas Station
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
Anika Real Estate LLC · 2 yrs held
Anika Real Estate LLC
since 2023
Last sale
$476,668
5 recorded transactions
Zoning & alternative use
C-2 · Norfolk, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
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 2024Property tax & assessments
Tax year 2024
Tax billed
$6,666
Tax year 2024
Assessed value
$533,300
Assessed 2024
Previous assessed
$602,800
-11.5% YoY
Effective rate
1.25%
On assessed value
Assessed land
$167,000
Assessed improvement
$366,300
Land market value
$167,000
Improvement market value
$366,300
Total market value
$533,300
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
Grocery and convenience stores
Use group
CONVENIENCE STORE (W/FUEL PUMP)
Status
Off-Market
Year built
1964
Heating
FORCED AIR
Cooling
YES
Stories
1
Total area
1,512 SF
Lot
0.64 ac (27,835 SF)
Zoning code
C-2
APN
41701400
UPID
US87-3355363
Jurisdiction
NORFOLK CITY
Zoning & alternative use
C-2 · Norfolk, VA
Zoning 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
Norfolk. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1964
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
0.64 ac
Current owner
From public records · entity-resolved
Anika Real Estate LLC
Entity
Mailing address
1403 GREENBRIER PKWY STE #465, CHESAPEAKE, VA 23320-0618
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
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 20, 2023
$476,668
Anika Real Estate LLC
Ashokkumar Patel
Warranty Deed
$476,668 · Party III
May 2, 2013
$600,000
Navadurga LLC
Ss Landco LLC
Bargain And Sale Deed
—
Nov 30, 2012
$600,000
Swami LLC
Ss Lando Lc
Bargain And Sale Deed
$640,000 · Citizens National Bank
Jan 5, 2010
—
Ss Landco LLC
Racecoast LLC
Deed
$3,383,000 · Branch Banking And Trust Co
Sep 12, 2005
$430,600
Racecoast LLC
Angus I Hines Incorporated
Quit Claim 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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