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Property profile & analytics
FOR LEASE
Retail space
1421 Kempsville Rd, Chesapeake, VA 23320
Entity Owned
5-yr Hold
Free & Clear
Property ID
US87-0020319
For Lease
1 / 6
$1,850,000
1421 Kempsville Rd, Chesapeake, VA 23320
View Listing →
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1998
Total area
12,600 SF
Lot
1.32 ac (57,630 SF)
Zoning code
B1: NEIGHBORHOOD BUSINESS
APN
290000000150
UPID
US87-0020319
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
-
Lewis Michael T DDS Dental Office
-
Dr. Joseph Toland, MD Pediatrician Medical Clinic
-
Denise Bertelli, Licensed Broker in VA & NC Real Estate Agency
-
Mike Zimmerman - Hampton Roads Realtor - RE/MAX Ultra Real Estate Agency
-
Michael Zimmerman, REMAX Ultra Real Estate Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.90M
CAP Approach
CAP
$1.84M
Comparable Approach
Comparable
$1.98M
Blend (final)
Blend
$1.85M
Owner & transaction history
Ges Properties 2011 W Main LLC · 5 yrs held
Ges Properties 2011 W Main LLC
since 2021
Last sale
$1.8M
4 recorded transactions
Zoning & alternative use
B1: NEIGHBORHOOD BUSINESS · 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
$1,915,000
ML approach
$1,895,000
CAP Approach
CAP Return
Estimation
6%
$1,985,000
6.5%
$1,835,000
7%
$1,700,000
Alternative Use
Use
Estimation
RETAIL STORES
$2,360,000
Current use
COMMERCIAL (GENERAL)
$2,110,000
Change: -11% · Conversion: Easy
Blend value · Realmo final
$1.85M
Range $1.67M – $2.04M · ±10% · vs last sale $1.80M (Jan 27 2021)
Last sale anchor
$1.80M
Jan 27 2021
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
$147 / 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
$17,252
Tax year 2019
Assessed value
$1,889,200
Assessed 2023
Previous assessed
$1,803,800
+4.7% YoY
Effective rate
0.91%
On assessed value
Assessed land
$1,124,600
Assessed improvement
$764,600
Land market value
$1,124,600
Improvement market value
$764,600
Total market value
$1,889,200
Applied tax rate
42.0000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
For Lease
Year built
1998
Heating
HEAT PUMP
Stories
1
Units
1
Total area
12,600 SF
Lot
1.32 ac (57,630 SF)
Zoning code
B1: NEIGHBORHOOD BUSINESS
APN
290000000150
UPID
US87-0020319
Jurisdiction
CHESAPEAKE CITY
Zoning & alternative use
B1: NEIGHBORHOOD BUSINESS · Chesapeake, VA
Zoning 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
Chesapeake. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$2.4M
COMMERCIAL (GENERAL)
Est. value
$2.1M
RETAIL STORES Current
COMMERCIAL (GENERAL)
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
1998
Heating
HEAT PUMP
Stories
1
Units
1
Lot
1.32 ac
Current owner
From public records · entity-resolved
Ges Properties 2011 W Main LLC
Entity
Free & Clear · 5 yrs held
Mailing address
4325 ALFRIENDS TRL, VIRGINIA BEACH, VA 23455-6101
Ownership since
2021
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
Sep 23, 2021
—
Ges Properties 2011 W Main LLC
—
Deed
related
$1,000,000 · Dollar Bank Federal Savings Bank
Jan 27, 2021
—
Ges Properties 2011 W Main LLC
Ges Properties LLC
Gift Deed
related
—
Dec 30, 2020
$1,800,000
Ges Properties LLC
1421 Kempsville Road LLC
Warranty Deed
—
Aug 28, 2007
$1,524,000
Woodlawn Memorial Ga
Country Club Assoc
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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