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Property profile & analytics
OFF-MARKET
Estimated value
$300,000
Retail space
1508 Princess Anne Rd Norfolk, VA 23504-2986
Individually Owned
8-yr Hold
Free & Clear
Property ID
US87-3367193
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1949
Total area
3,980 SF
Lot
0.07 ac (3,162 SF)
Zoning code
C-1
APN
10906700
UPID
US87-3367193
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
-
Vacarolina Barber & Beauty Hair Salon Nail Salon
-
Marvin Ray Brown: Primerica - Financial Services Financial Advisor
-
Lita Wi Microblading & Makeup Cosmetic Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$300k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$300k
Owner & transaction history
Alton N Spruill · 8 yrs held
Alton N Spruill
since 2017
1 recorded transaction
Zoning & alternative use
C-1 · Norfolk, VA
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
by Request
ML approach
$300,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$300k
Range $270k – $330k · ±10%
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
$75 / 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
$2,253
Tax year 2024
Assessed value
$180,200
Assessed 2024
Previous assessed
$174,800
+3.1% YoY
Effective rate
1.25%
On assessed value
Assessed land
$22,100
Assessed improvement
$158,100
Land market value
$22,100
Improvement market value
$158,100
Total market value
$180,200
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
Off-Market
Year built
1949
Heating
FORCED AIR
Cooling
YES
Stories
2
Total area
3,980 SF
Lot
0.07 ac (3,162 SF)
Zoning code
C-1
APN
10906700
UPID
US87-3367193
Jurisdiction
NORFOLK CITY
Zoning & alternative use
C-1 · Norfolk, VAZoning C-1 · permitted uses
C-1 · Norfolk, VA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Source
Adopted Zoning Ordinance
Building & site characteristics
From public records
Year built
1949
Heating
FORCED AIR
Cooling
Yes
Stories
2
Lot
0.07 ac
Current owner
From public records · entity-resolved
Alton N Spruill
Individual
Free & Clear · 8 yrs held
Mailing address
1639 HIGH PLNS DR, VIRGINIA BEACH, VA 23464-8508
Ownership since
2017
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
Oct 27, 2017
—
Alton N Spruill
Veronica S Spruill
Intrafamily Transfer
related
—
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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