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Property profile & analytics
OFF-MARKET
Estimated value
$6,010,000
Drug stores
1418 Cedar Rd Chesapeake, VA 23322-7172
Entity Owned
3-yr Hold
Free & Clear
Property ID
US87-2172395
Property profile
Verified
Property type
Drug stores
Use group
DRUG STORE, PHARMACY
Year built
2014
Total area
13,644 SF
Lot
1.96 ac (85,378 SF)
Zoning code
B1: NEIGHBORHOOD BUSINESS
APN
460000000222
UPID
US87-2172395
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
-
Walgreens Photo (Bike/Boat/Book/etc) Store
-
Walgreens Pharmacy Pharmacy
-
FedEx OnSite Postal Service Courier Service
-
Walgreens Cosmetic Store
-
Bitcoin Depot | BDCheckout Atm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$5.74M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.82M
Blend (final)
Blend
$6.01M
Owner & transaction history
170 W 109 Associates LLC · 3 yrs held
170 W 109 Associates LLC
since 2023
Last sale
$6.2M
3 recorded transactions
Zoning & alternative use
B1: NEIGHBORHOOD BUSINESS · Chesapeake, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$6.1M
+137.2%
Restaurant
$5.0M
+96.6%
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
$6,010,000
ML approach
$5,735,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$6,065,000
Change: +137% · Conversion: Difficult
RESTAURANT
$5,025,000
Change: +97% · Conversion: Easy
Blend value · Realmo final
$6.01M
Range $5.41M – $6.61M · ±10% · vs last sale $6.20M (Jan 17 2023)
Last sale anchor
$6.20M
Jan 17 2023
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
$440 / 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
$37,103
Tax year 2019
Assessed value
$5,118,900
Assessed 2023
Previous assessed
$4,069,200
+25.8% YoY
Effective rate
0.72%
On assessed value
Assessed land
$1,274,000
Assessed improvement
$3,844,900
Land market value
$1,274,000
Improvement market value
$3,844,900
Total market value
$5,118,900
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
Drug stores
Use group
DRUG STORE, PHARMACY
Status
Off-Market
Year built
2014
Heating
PACKAGE
Cooling
AC.PACKAGE
Stories
1
Units
1
Total area
13,644 SF
Lot
1.96 ac (85,378 SF)
Zoning code
B1: NEIGHBORHOOD BUSINESS
APN
460000000222
UPID
US87-2172395
Jurisdiction
CHESAPEAKE CITY
Zoning & alternative use
B1: NEIGHBORHOOD BUSINESS · Chesapeake, VAZoning B1: NEIGHBORHOOD BUSINESS · permitted uses
B1: NEIGHBORHOOD BUSINESS · Chesapeake, VA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS)
Est. value
$6.1M
RESTAURANT
Est. value
$5.0M
APARTMENT HOUSE (5+ UNITS)
RESTAURANT
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
2014
Heating
PACKAGE
Cooling
Yes
Stories
1
Units
1
Lot
1.96 ac
Current owner
From public records · entity-resolved
170 W 109 Associates LLC
Entity
Free & Clear · 3 yrs held
Mailing address
109 SPENCER PL, MAMARONECK, NY 10543-2627
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 17, 2023
$6,200,000
170 W 109 Associates LLC
Kmeh Investments LLC
Special Warranty Deed
—
Nov 20, 2014
$6,250,000
Kmeh Investments LLC
Old Brandon Cedar Associates L
Special Warranty Deed
—
Jan 3, 2014
$1,500,000
Old Brandon Cedar Assoc LLC
Wallace G Cahoon
Special Warranty Deed
—
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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