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Property profile & analytics
OFF-MARKET
Estimated value
$370,000
Showrooms
1576 Aspin St Norfolk, VA 23502-1677
Entity Owned
10-yr Hold
Free & Clear
Property ID
US87-3376291
Property profile
Verified
Property type
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Year built
1954
Total area
9,216 SF
Lot
0.5 ac (21,937 SF)
Zoning code
R-11
APN
809363
UPID
US87-3376291
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
-
Zion Word Restoration Ministries Church
-
Trap House Koda Theater & Performing Art Venue Nightclub
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$370k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$370k
Owner & transaction history
Heirs LLC A Virginia Limited Liabil · 10 yrs held
Heirs LLC A Virginia Limited Liabil
since 2016
2 recorded transactions
Zoning & alternative use
R-11 · 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
$370,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$370k
Range $333k – $407k · ±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
$40 / 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
$5,170
Tax year 2024
Assessed value
$413,600
Assessed 2024
Previous assessed
$399,800
+3.5% YoY
Effective rate
1.25%
On assessed value
Assessed land
$109,400
Assessed improvement
$304,200
Land market value
$109,400
Improvement market value
$304,200
Total market value
$413,600
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
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Status
Off-Market
Year built
1954
Heating
SPACE
Cooling
YES
Stories
1
Total area
9,216 SF
Lot
0.5 ac (21,937 SF)
Zoning code
R-11
APN
809363
UPID
US87-3376291
Jurisdiction
NORFOLK CITY
Zoning & alternative use
R-11 · Norfolk, VAZoning R-11 · permitted uses
R-11 · 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
1954
Heating
SPACE
Cooling
Yes
Stories
1
Lot
0.5 ac
Current owner
From public records · entity-resolved
Heirs LLC A Virginia Limited Liabil
Entity
Free & Clear · 10 yrs held
Mailing address
1940 CHARLA LEE LN, VIRGINIA BEACH, VA 23455-2636
Ownership since
2016
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
Mar 28, 2016
—
Heirs LLC A Virginia Limited Liabil
Gloria T Christian
Gift Deed
related
—
Aug 19, 2010
—
Gloria A Christian
Gloria A Christian
Gift Deed
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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