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Property profile & analytics
OFF-MARKET
Estimated value
$2,345,000
Office buildings
129 Virginia Bch Blvd Norfolk, VA 23510-2030
Entity Owned
14-yr Hold
~
Est. High Equity
Property ID
US87-3358665
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1945
Total area
20,860 SF
Lot
0.57 ac (24,816 SF)
Zoning code
D-4
APN
8778300
UPID
US87-3358665
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
-
Relationship Counseling for Individuals, Couples and Families in Norfolk, VA Crisis Center Medical Clinic
-
Skin Rejuvenator Medical Clinic Skin Care Clinic
-
Clearly Creating Access Bars Life Coach Alternative Medicine Practitioner
-
Tidewater Hyperbaric Physician
-
VITALIFE VIRGINA Gym & Fitness Center Alternative Medicine Practice
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.94M
Blend (final)
Blend
$2.35M
Owner & transaction history
Canyon Meadows LLC · 14 yrs held
Canyon Meadows LLC
since 2012
5 recorded transactions
Zoning & alternative use
D-4 · 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
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$3,435,000
Change: -16% · Conversion: Moderate
Blend value · Realmo final
$2.35M
Range $2.11M – $2.58M · ±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
$112 / 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 2024Property tax & assessments
Tax year 2024
Tax billed
$27,076
Tax year 2024
Assessed value
$1,920,300
Assessed 2024
Previous assessed
$1,920,300
+0.0% YoY
Effective rate
1.41%
On assessed value
Assessed land
$554,900
Assessed improvement
$1,365,400
Land market value
$554,900
Improvement market value
$1,365,400
Total market value
$1,920,300
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1945
Heating
FORCED AIR
Cooling
YES
Stories
2
Total area
20,860 SF
Lot
0.57 ac (24,816 SF)
Zoning code
D-4
APN
8778300
UPID
US87-3358665
Jurisdiction
NORFOLK CITY
Zoning & alternative use
D-4 · Norfolk, VA
Zoning D-4 · permitted uses
D-4 · 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.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES
Est. value
$3.4M
RETAIL STORES
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
1945
Heating
FORCED AIR
Cooling
Yes
Stories
2
Lot
0.57 ac
Current owner
From public records · entity-resolved
Canyon Meadows LLC
Entity
Mailing address
129 W VIRGINIA BCH BLVD STE #140, NORFOLK, VA 23510-2030
Ownership since
2012
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
Mar 27, 2024
—
Canyon Meadows LLC
—
Deed
related
$2,548,564 · Harbour Development Group LLC
Mar 23, 2023
—
Canyon Meadows LLC
—
Deed
related
$2,360,000 · Harbour Development Group LLC
Apr 21, 2022
—
Canyon Meadows LLC
—
Deed
related
$1,800,000 · Consumer Mortgage & Investment Corp
Mar 26, 2020
—
Canyon Meadows LLC
—
Deed
related
$720,000 · Consumer Mortgage & Investment Corp
Feb 23, 2012
$1,675,000
Canyon Meadows LLC
Ghent Center Associates INC
Deed
$1,000,000 · Ghent Center Associates Lc
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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