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Property profile & analytics
OFF-MARKET
Estimated value
$14,110,000
Apartment buildings
1301 Canal Dr 13B Chesapeake, VA 23323-4841
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US87-0703607
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1965
Total area
104,750 SF
Lot
7.84 ac (341,510 SF)
Zoning code
RMF1: MULTI-FAMILY RESIDE
APN
253001000010
UPID
US87-0703607
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
-
Marina Point Apartments Property Management Company Real Estate Rental Agency
-
Oils & Thingz (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$16.41M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$14.11M
Owner & transaction history
1301 Canal Drive LLC · 4 yrs held
1301 Canal Drive LLC
since 2022
Last sale
$14.2M
4 recorded transactions
Zoning & alternative use
RMF1: MULTI-FAMILY RESIDE · Chesapeake, 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 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
$11,735,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$17,775,000
6.5%
$16,410,000
7%
$15,235,000
Blend value · Realmo final
$14.11M
Range $12.70M – $15.52M · ±10% · vs last sale $14.15M (Feb 9 2022)
Last sale anchor
$14.15M
Feb 9 2022
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
$135 / 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
$70,537
Tax year 2019
Assessed value
$13,718,500
Assessed 2023
Previous assessed
$11,890,000
+15.4% YoY
Effective rate
0.51%
On assessed value
Assessed land
$1,568,000
Assessed improvement
$12,150,500
Land market value
$1,568,000
Improvement market value
$12,150,500
Total market value
$13,718,500
Applied tax rate
12.0000
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
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Status
Off-Market
Year built
1965
Heating
HEAT PUMP
Stories
20
Units
1
Total area
104,750 SF
Lot
7.84 ac (341,510 SF)
Zoning code
RMF1: MULTI-FAMILY RESIDE
APN
253001000010
UPID
US87-0703607
Jurisdiction
CHESAPEAKE CITY
Zoning & alternative use
RMF1: MULTI-FAMILY RESIDE · Chesapeake, VA
Zoning RMF1: MULTI-FAMILY RESIDE · permitted uses
RMF1: MULTI-FAMILY RESIDE · 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.
Building & site characteristics
From public records
Year built
1965
Heating
HEAT PUMP
Stories
20
Units
1
Lot
7.84 ac
Current owner
From public records · entity-resolved
1301 Canal Drive LLC
Entity
Mailing address
1013 CTR RD STE 403B, WILMINGTON, DE 19805-1270
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 9, 2022
$14,150,000
1301 Canal Drive LLC
Marina Point Apartments LLC
Special Warranty Deed
$8,948,000 · Newmark
Mar 19, 2020
$9,250,000
Marina Point Apartments LLC
Marina Point Partners LLC
Warranty Deed
$7,920,000 · The Bancorp Bank
Nov 22, 2016
$6,350,000
Marina Point Partners LLC A Virgini
1300 Canal Associates LLC A Virgini
Special Warranty Deed
$5,000,000 · Comunity Capital Bank Of Virginia
Jan 23, 2014
$5,720,000
1300 Canal Associates LLC
Cherokee Joint Venture Lllp
Special Warranty Deed
$4,275,000 · Santander Bank NA
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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