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Property profile & analytics
OFF-MARKET
Estimated value
$24,175,000
Automotive properties
1495 Military Hwy Chesapeake, VA 23320-2603
Entity Owned
3-yr Hold
Free & Clear
Property ID
US87-3843855
Property profile
Verified
Property type
Automotive properties
Use group
VEHICLE SALES, RENTALS
Year built
1974
Total area
37,735 SF
Lot
15.73 ac (685,286 SF)
Zoning code
B3: HIGHWAY SERVICE
APN
200000000034
UPID
US87-3843855
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
-
Priority Collision Chesapeake Auto Repair Shop
-
Enterprise Rent-A-Car Car Rental Facility
-
Priority Chevrolet Greenbrier Car Dealership Auto Repair Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$22.47M
Blend (final)
Blend
$24.18M
Owner & transaction history
Ellmer Properties Chesapeake LLC · 3 yrs held
Ellmer Properties Chesapeake LLC
since 2023
Last sale
$25.0M
3 recorded transactions
Zoning & alternative use
B3: HIGHWAY SERVICE · Chesapeake, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$16.8M
+59.8%
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
$24,245,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$16,770,000
Change: +60% · Conversion: Difficult
Blend value · Realmo final
$24.18M
Range $21.76M – $26.59M · ±10% · vs last sale $25.00M (Jul 17 2023)
Last sale anchor
$25.00M
Jul 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
$641 / 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
$158,357
Tax year 2019
Assessed value
$18,942,000
Assessed 2023
Previous assessed
$16,341,500
+15.9% YoY
Effective rate
0.84%
On assessed value
Assessed land
$4,719,600
Assessed improvement
$14,222,400
Land market value
$4,719,600
Improvement market value
$14,222,400
Total market value
$18,942,000
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
Automotive properties
Use group
VEHICLE SALES, RENTALS
Status
Off-Market
Year built
1974
Heating
PACKAGE
Cooling
AC.PACKAGE
Stories
1
Units
1
Total area
37,735 SF
Lot
15.73 ac (685,286 SF)
Zoning code
B3: HIGHWAY SERVICE
APN
200000000034
UPID
US87-3843855
Jurisdiction
CHESAPEAKE CITY
Zoning & alternative use
B3: HIGHWAY SERVICE · Chesapeake, VA
Zoning B3: HIGHWAY SERVICE · permitted uses
B3: HIGHWAY SERVICE · 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
APARTMENT HOUSE (5+ UNITS)
Est. value
$16.8M
APARTMENT HOUSE (5+ UNITS)
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
1974
Heating
PACKAGE
Cooling
Yes
Stories
1
Units
1
Lot
15.73 ac
Current owner
From public records · entity-resolved
Ellmer Properties Chesapeake LLC
Entity
Free & Clear · 3 yrs held
Mailing address
1495 S MILITARY HWY, CHESAPEAKE, VA 23320-2603
Mailing matches property
Yes
Owner-occupied
Yes
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
Jul 17, 2023
—
Ellmer Properties Chesapeake LLC
Virginia Electric And Power Company
Quit Claim Deed
related
—
Jun 15, 2023
$25,000,000
Lithia Va Real Estate LLC
Ellmer Properties Chesapeake LLC
Special Warranty Deed
—
Feb 27, 2007
$1,097,000
Ellmer Properties
Carpld LLC
Special Warranty Deed
$11,645,000 · Suntrust Mortgage INC
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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