Entity Owned
$3,330/Mo
141 Hillcrest Pkwy, Chesapeake, VA 23322
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Property summary
AI-generated overview
The property is a 10,903-square-foot retail strip center constructed in 2006 on a 1.95-acre site. It is configured with multiple tenants and is anchored by a Sherwin-Williams facility. The tenant mix includes Sherwin-Williams, Crave Bakery and Coffee Bar, Mystic Spa, and Cristaldo’s, with lease structures described as NNN and featuring scheduled rent increases; the weighted average lease term is 6.3 years. A Sherwin-Williams space of 4,715 square feet is identified as having a 10-year corporately guaranteed lease. The center is part of a Planned Use Development in a shadow-anchored retail environment that includes Home Depot and other nearby users such as Taco Bell, WaWa, Wendy’s, and Zaxby’s. Vehicular access is provided via multiple curb cuts and a signalized intersection, and the property is located just off South Battlefield Boulevard, less than one mile south of Chesapeake Expressway (Route 168).
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2006
Total area
10,740 SF
Lot
1.96 ac (85,203 SF)
Zoning code
PUD: PLANNED UNIT DEVELOP
APN
730000001790
UPID
US87-0685115
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.41M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.53M
Blend (final)
Blend
$3.38M
Owner & transaction history
since 2021
Last sale
$3.2M
3 recorded transactions
Zoning & alternative use
PUD: PLANNED UNIT DEVELOP · Chesapeake, VA
Top alternative use upside
Apartment house (5+ units)
$4.8M
+137.2%
Restaurant
$4.0M
+96.6%
Auto repair, garage
$2.8M
+37.6%
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
All 4 comparables with addresses
4 alternative uses screened
Sensitivity value band
Source audit · 6 inputs
PDF export
Professional Plan · 30 reports
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Summary
1
Valuation conclusion
Included free
Estimated market value
$3.38M
Value range
$3.04M – $3.72M
±10% around blend
Estimated value / SF
$315 / SF
Confidence
Low
4 county-verified comps
Property data
100
Market benchmarks
67
Comparable evidence
40
Income certainty
100
$3.04M
blend $3.38M
$3.72M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
10,740 SF
Lot area
1.96 ac
Year built
2006
Stories
1
APN
730000001790
Zoning
PUD: PLANNED UNIT DEVELOP
Assessed value
$2,594,700
Annual tax
$26,758
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
$26,758
Selected cap rate
4
Sales comparison
Partial preview
Sales approach indication
$1.74M
Weighted, 4 comps · low confidence
Evidence
4 found · 4 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
13.1 mi away · 9,147 SF
15.9 mi away · 11,300 SF
19.1 mi away · 11,204 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$3.38M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
Submarket 56 sales
$187
+68%
County 56 sales
$187
+68%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $315/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Apartment House (5+ Units)
Gross theoretical uplift
+137%
vs current-use indication
Restaurant
Auto Repair, Garage
Retail Stores · current use
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
Comparable evidence · 4 sales
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
3.00%
Selected cap rate for this retail space
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 · 3.00%
9.0%
NOI (est.)
$31k *
Last sale · Aug 2021
$3.18M
* 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$1.05M
Move the market yield to see immediate price impact.
Value / SF
$98
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
2.50%3.00%3.50%
$28k
$1.13M
$945k
$810k
$31k
$1.26M
$1.05M
$900k
$35k
$1.39M
$1.15M
$990k
NOI sensitivity ±10% across the selected-rate band (±0.5 pp) — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
4 found
Low confidence · county-verified
Closest comparable
$815k
13.0 mi · Feb 2026 · $80/SF
Property tax & assessments
Tax year 2019Property tax & assessments
Tax year 2019
Tax billed
$26,758
Tax year 2019
Assessed value
$2,594,700
Assessed 2023
Previous assessed
$2,433,500
+6.6% YoY
Effective rate
1.03%
On assessed value
Assessed land
$1,564,800
Assessed improvement
$1,029,900
Land market value
$1,564,800
Improvement market value
$1,029,900
Total market value
$2,594,700
Applied tax rate
23.0000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
For Lease
Year built
2006
Heating
PACKAGE
Cooling
AC.PACKAGE
Stories
1
Units
1
Total area
10,740 SF
Lot
1.96 ac (85,203 SF)
Zoning code
PUD: PLANNED UNIT DEVELOP
APN
730000001790
UPID
US87-0685115
Jurisdiction
CHESAPEAKE CITY
Zoning & alternative use
PUD: PLANNED UNIT DEVELOP · Chesapeake, VAZoning PUD: PLANNED UNIT DEVELOP · permitted uses
PUD: PLANNED UNIT DEVELOP · 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
2006
Heating
PACKAGE
Cooling
Yes
Stories
1
Units
1
Lot
1.96 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
PUD: PLANNED UNIT DEVELOP
Jurisdiction
Chesapeake, VA
Recorded code
PUD: PLANNED UNIT DEVELOP
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for PUD: PLANNED UNIT DEVELOP 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.
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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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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