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Property profile & analytics
OFF-MARKET
Estimated value
$2,000,000
Strip malls
1500 Brambleton Ave, Norfolk, VA 23504-4342
Entity Owned
2-yr Hold
Free & Clear
Property ID
US87-3382557
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1989
Total area
8,760 SF
Lot
0.7 ac (30,675 SF)
Zoning code
C-2
APN
41138752
UPID
US87-3382557
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
-
Kappatal Cuts Barber Shop
-
Diva African Hair Braiding, LLC Hair Salon Nail Salon
-
Boost Mobile Mobile Phone Store Electronics & Wireless Store
-
Sam's Beauty (Bike/Boat/Book/etc) Store Cosmetic Store
-
Twisted Pizza and The Seafood Shack Norfolk Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.00M
CAP Approach
CAP
$1.68M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.00M
Owner & transaction history
1500 East Brambleton Shoppes LLC · 2 yrs held
1500 East Brambleton Shoppes LLC
since 2024
Last sale
$2.0M
1 recorded transaction
Zoning & alternative use
C-2 · Norfolk, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.3M
+228.6%
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 Norfolk submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Norfolk 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
$2,000,000
ML approach
$2,000,000
CAP Approach
CAP Return
Estimation
6%
$1,820,000
6.5%
$1,680,000
7%
$1,560,000
Alternative Use
Use
Estimation
RESTAURANT
$1,260,000
Change: +229% · Conversion: Difficult
Blend value · Realmo final
$2.00M
Range $1.80M – $2.20M · ±10% · vs last sale $2.00M (Mar 26 2024)
Last sale anchor
$2.00M
Mar 26 2024
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
$228 / 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 2024Property tax & assessments
Tax year 2024
Tax billed
$10,094
Tax year 2024
Assessed value
$807,500
Assessed 2024
Previous assessed
$795,200
+1.5% YoY
Effective rate
1.25%
On assessed value
Assessed land
$204,000
Assessed improvement
$603,500
Land market value
$204,000
Improvement market value
$603,500
Total market value
$807,500
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1989
Heating
FORCED AIR
Cooling
YES
Stories
1
Total area
8,760 SF
Lot
0.7 ac (30,675 SF)
Zoning code
C-2
APN
41138752
UPID
US87-3382557
Jurisdiction
NORFOLK CITY
Zoning & alternative use
C-2 · Norfolk, VA
Zoning C-2 · permitted uses
C-2 · Norfolk, VA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Norfolk. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT
Est. value
$1.3M
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
1989
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
0.7 ac
Current owner
From public records · entity-resolved
1500 East Brambleton Shoppes LLC
Entity
Free & Clear · 2 yrs held
Mailing address
700 PARK AVE STE #410, NORFOLK, VA 23504-8050
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 26, 2024
$2,000,000
1500 East Brambleton Shoppes LLC
University Shoppes LLC
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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