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Property profile & analytics
OFF-MARKET
Estimated value
$815,000
Auto shops
1556 Azalea Gdn Rd Norfolk, VA 23502-1628
Entity Owned
Free & Clear
Property ID
US87-3374433
Property profile
Verified
Property type
Auto shops
Use group
AUTO REPAIR, GARAGE
Year built
1950
Total area
7,179 SF
Lot
0.19 ac (8,289 SF)
Zoning code
I-1
APN
8438700
UPID
US87-3374433
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
-
Quick Time Auto Body LLC Auto Repair Shop
-
Caliber Collision Auto Repair Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$815k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$814k
Blend (final)
Blend
$815k
Owner & transaction history
Valkyrie Holdings LLC
Valkyrie Holdings LLC
since 2025
4 recorded transactions
Zoning & alternative use
I-1 · Norfolk, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
$815,000
ML approach
$815,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$1,180,000
Change: -15% · Conversion: Difficult
Blend value · Realmo final
$815k
Range $734k – $897k · ±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
$114 / 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
$4,446
Tax year 2024
Assessed value
$355,700
Assessed 2024
Previous assessed
$341,500
+4.2% YoY
Effective rate
1.25%
On assessed value
Assessed land
$45,600
Assessed improvement
$310,100
Land market value
$45,600
Improvement market value
$310,100
Total market value
$355,700
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
Auto shops
Use group
AUTO REPAIR, GARAGE
Status
Off-Market
Year built
1950
Heating
SPACE
Cooling
YES
Stories
1
Total area
7,179 SF
Lot
0.19 ac (8,289 SF)
Zoning code
I-1
APN
8438700
UPID
US87-3374433
Jurisdiction
NORFOLK CITY
Zoning & alternative use
I-1 · Norfolk, VA
Zoning I-1 · permitted uses
I-1 · 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
RETAIL STORES
Est. value
$1.2M
RETAIL STORES
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
1950
Heating
SPACE
Cooling
Yes
Stories
1
Lot
0.19 ac
Current owner
From public records · entity-resolved
Valkyrie Holdings LLC
Entity
Free & Clear · 0 yrs held
Mailing address
13023 NE HWY 99TH 7TH STE #7, VANCOUVER, WA 98686-2699
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 3, 2025
—
Valkyrie Holdings LLC
Asgard Holdings LLC
Warranty Deed
—
Oct 20, 2022
$626,133
Asgard Holdings LLC
Cross Development Cc Norfolk LLC
Special Warranty Deed
—
Aug 19, 2021
$250,000
Cross Development Cc Norfolk LLC
Douglas S Warren
Warranty Deed
—
Nov 13, 2017
$245,000
Douglas S Warren
Ronald L Coffey
Warranty Deed
$55,000 · Party III
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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