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Property profile & analytics
OFF-MARKET
Estimated value
$41,470,000
Industrial properties
1543 Crossways Blvd Chesapeake, VA 23320
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US87-0843203
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
1978
Total area
401,302 SF
Lot
18.74 ac (816,402 SF)
Zoning code
M2: GENERAL INDUSTRIAL
APN
280000000700
UPID
US87-0843203
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$27.45M
Comparable Approach
Comparable
$43.12M
Blend (final)
Blend
$41.47M
Owner & transaction history
Crossways Owner I LLC · 5 yrs held
Crossways Owner I LLC
since 2021
Last sale
$40.1M
2 recorded transactions
Zoning & alternative use
M2: GENERAL INDUSTRIAL · Chesapeake, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$67.1M
+43.7%
Office building
$56.5M
+21.0%
Warehouse, storage
$56.1M
+20.1%
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
$42,660,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$29,730,000
6.5%
$27,445,000
7%
$25,485,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$46,730,000
Current use
COMMERCIAL (GENERAL)
$67,130,000
Change: +44% · Conversion: Difficult
OFFICE BUILDING
$56,545,000
Change: +21% · Conversion: Difficult
WAREHOUSE, STORAGE
$56,100,000
Change: +20% · Conversion: Easy
Blend value · Realmo final
$41.47M
Range $37.32M – $45.62M · ±10% · vs last sale $40.05M (May 27 2021)
Last sale anchor
$40.05M
May 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
$103 / 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
$355,268
Tax year 2019
Assessed value
$38,881,100
Assessed 2023
Previous assessed
$37,802,100
+2.9% YoY
Effective rate
0.91%
On assessed value
Assessed land
$5,622,600
Assessed improvement
$33,258,500
Land market value
$5,622,600
Improvement market value
$33,258,500
Total market value
$38,881,100
Applied tax rate
43.0000
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
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Status
Off-Market
Year built
1978
Heating
FORCED AIR
Cooling
YES
Stories
1
Units
1
Total area
401,302 SF
Lot
18.74 ac (816,402 SF)
Zoning code
M2: GENERAL INDUSTRIAL
APN
280000000700
UPID
US87-0843203
Jurisdiction
CHESAPEAKE CITY
Zoning & alternative use
M2: GENERAL INDUSTRIAL · Chesapeake, VA
Zoning M2: GENERAL INDUSTRIAL · permitted uses
M2: GENERAL INDUSTRIAL · 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
INDUSTRIAL (GENERAL) Current
Est. value
$46.7M
COMMERCIAL (GENERAL)
Est. value
$67.1M
OFFICE BUILDING
Est. value
$56.5M
WAREHOUSE, STORAGE
Est. value
$56.1M
INDUSTRIAL (GENERAL) Current
COMMERCIAL (GENERAL)
OFFICE BUILDING
WAREHOUSE, STORAGE
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
1978
Heating
FORCED AIR
Cooling
Yes
Stories
1
Units
1
Lot
18.74 ac
Current owner
From public records · entity-resolved
Crossways Owner I LLC
Entity
Mailing address
123 PROSPECT ST, RIDGEWOOD, NJ 07450-4435
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
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 27, 2021
$40,050,000
Crossways Owner I LLC
Ip Dsc Crossways-1545 LLC
Special Warranty Deed
$42,000,000 · Truist Bank
Dec 17, 2018
$33,700,000
Ip Dsc Crossways-1545 LLC
Crossways Associates 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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