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Property profile & analytics
OFF-MARKET
Estimated value
$11,265,000
Hospitals
1516 Harmon St Norfolk, VA 23518-4056
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US87-3388623
Property profile
Verified
Property type
Hospitals
Use group
HOSPITAL - PRIVATE
Year built
1965
Total area
27,303 SF
Lot
0.79 ac (34,608 SF)
Zoning code
R-13
APN
41148900
UPID
US87-3388623
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
-
Avenues Recovery Center at Norfolk Medical Clinic
-
Praxis of Norfolk by Landmark Recovery Medical Clinic
-
Landmark Recovery Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$11.30M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$11.27M
Owner & transaction history
1516 Harmon Street Owner LLC · 3 yrs held
1516 Harmon Street Owner LLC
since 2023
Last sale
$12.0M
5 recorded transactions
Zoning & alternative use
R-13 · 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
$11,300,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$11.27M
Range $10.14M – $12.39M · ±10% · vs last sale $12.00M (Feb 7 2023)
Last sale anchor
$12.00M
Feb 7 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
$413 / 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
$36,456
Tax year 2024
Assessed value
$2,916,500
Assessed 2024
Previous assessed
$2,280,800
+27.9% YoY
Effective rate
1.25%
On assessed value
Assessed land
$380,700
Assessed improvement
$2,535,800
Land market value
$380,700
Improvement market value
$2,535,800
Total market value
$2,916,500
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
Hospitals
Use group
HOSPITAL - PRIVATE
Status
Off-Market
Year built
1965
Heating
FORCED AIR
Cooling
YES
Stories
3
Total area
27,303 SF
Lot
0.79 ac (34,608 SF)
Zoning code
R-13
APN
41148900
UPID
US87-3388623
Jurisdiction
NORFOLK CITY
Zoning & alternative use
R-13 · Norfolk, VAZoning R-13 · permitted uses
R-13 · 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
1965
Heating
FORCED AIR
Cooling
Yes
Stories
3
Lot
0.79 ac
Current owner
From public records · entity-resolved
1516 Harmon Street Owner LLC
Entity
Mailing address
250 1ST AVE STE #202, NEEDHAM, MA 02494-2886
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
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 5, 2025
—
1516 Harmon Street Owner LLC
—
Deed
related
$8,730,000 · First Horizon Bank
Mar 15, 2023
—
1516 Harmon Street Owner LLC
—
Deed
related
$23,775,000 · Htlf Bank
Feb 7, 2023
$12,000
1516 Harmon Street Owner LLC
Avon LLC
Special Warranty Deed
—
Mar 27, 2020
—
Avon LLC
—
Deed
related
$2,400,000 · Hanmi Bank
Sep 26, 2019
—
Avon LLC
—
Deed
related
$500,000 · Westmount Financial Limited Partnership
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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