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For Lease
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1400 Crossways Blvd, Chesapeake, VA 23320
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Property summary
AI-generated overview
The property is an office space located about 1 mile from Summit Pointe, a mixed-use development that includes dining, residential components, and the Dollar Tree headquarters, and it is in the vicinity of hotels, restaurants, banks, and retail establishments. It features abundant on-site parking and offers the opportunity for exterior signage along its frontage.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1989
Total area
81,845 SF
Lot
7.75 ac (337,416 SF)
Zoning code
M2: GENERAL INDUSTRIAL
APN
280000000724
UPID
US87-0111069
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Medical Clinic
-
Crisis Center Medical Clinic
-
Medical Clinic
-
Physician
-
Pediatrician Physician
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$10.15M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$8.60M
Blend (final)
Blend
$13.32M
Owner & transaction history
since 2021
Last sale
$12.5M
2 recorded transactions
Zoning & alternative use
M2: GENERAL INDUSTRIAL · Chesapeake, VA
Top alternative use upside
Retail stores
$15.3M
+33.0%
Commercial (general)
$13.7M
+18.7%
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
Full NOI build-up · 6 steps
5 alternative uses screened
Sensitivity value band
Source audit · 6 inputs
PDF export
Professional plan · 30 reports
from $99/month
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Summary
1
Valuation conclusion
Included free
Estimated market value
$13.32M
Value range
$11.98M – $14.65M
±10% around blend
Estimated value / SF
$163 / SF
Confidence
Property data
100
Market benchmarks
100
Comparable evidence
60
Income certainty
100
$11.98M
blend $13.32M
$14.65M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
81,845 SF
Lot area
7.75 ac
Year built
1989
Stories
1
APN
280000000724
Zoning
M2: GENERAL INDUSTRIAL
Assessed value
$9,336,700
Annual tax
$100,667
3
Income approach: direct capitalization
Partial preview
Estimated Stabilized NOI, derived from market rent, vacancy and expense benchmarks. Actual property income not reported.
Estimated market rent / SF
Potential gross income
Vacancy allowance
Effective gross income
Benchmark operating expenses
Stabilized NOI
Property tax
$100,667
Selected cap rate
4
Sales comparison
Partial preview
Sales approach indication
$8.60M
Range $7.74M – $15.35M
Evidence
6 found
Recent peer sales in this city
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$13.32M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
ZIP 37 sales
$141
+15%
Submarket 76 sales
$140
+16%
County 76 sales
$140
+16%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $163/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Retail Stores
Gross theoretical uplift
+33%
vs current-use indication
Commercial (general)
Office Building · current use
Warehouse, Storage
Industrial (general)
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
8
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Modeled
Market rent
Market benchmark
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: income and sales evidence cover the value conclusion.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
NOI build-up · 9 steps
Market rates by use type
PDF export
Professional plan · 30 reports
from $99/month
from $99/month
Overview
Selected market yield
10.00%
Selected cap rate for this office buildings
Derived from the Chesapeake market rent, vacancy and expense benchmarks for this use type.
Lower yield / higher price
Higher yield / lower price
5.0%
This property · 10.00%
9.0%
NOI (est.)
$72k *
Last sale · Jul 2021
$12.50M
* derived from a real price signal at a 7% cap
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$721k
Move the market yield to see immediate price impact.
Value / SF
$9
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
9.50%10.00%10.50%
$65k
$683k
$649k
$618k
$72k
$759k
$721k
$686k
$79k
$834k
$793k
$755k
NOI sensitivity ±10% across the selected-rate band (±0.5 pp) — derivation of the NOI above.
Property tax & assessments
Tax year 2019Property tax & assessments
Tax year 2019
Tax billed
$100,667
Tax year 2019
Assessed value
$9,336,700
Assessed 2023
Previous assessed
$11,977,200
-22.0% YoY
Effective rate
1.08%
On assessed value
Assessed land
$2,711,100
Assessed improvement
$6,625,600
Land market value
$2,711,100
Improvement market value
$6,625,600
Total market value
$9,336,700
Applied tax rate
43.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
For Lease
Year built
1989
Heating
HEAT PUMP
Stories
1
Units
1
Total area
81,845 SF
Lot
7.75 ac (337,416 SF)
Zoning code
M2: GENERAL INDUSTRIAL
APN
280000000724
UPID
US87-0111069
Jurisdiction
CHESAPEAKE CITY
Zoning & alternative use
M2: GENERAL INDUSTRIAL · Chesapeake, VAZoning M2: GENERAL INDUSTRIAL · permitted uses
M2: GENERAL INDUSTRIAL · Chesapeake, VA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1989
Heating
HEAT PUMP
Stories
1
Units
1
Lot
7.75 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
M2: GENERAL INDUSTRIAL
Jurisdiction
Chesapeake, VA
Recorded code
M2: GENERAL INDUSTRIAL
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for M2: GENERAL INDUSTRIAL in Chesapeake, VA.
What opens after registration
Zoning profile
2 official documentsVerified municipal sources with file download
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
Registration is required before the official district profile is shown.
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Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
One complete report on every paid plan · 30 · 300 reports per month.
Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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