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Property profile & analytics
OFF-MARKET
Estimated value
$13,965,000
Apartment buildings
164 Great Brg Blvd Chesapeake, VA 23320
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US87-1327102
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1985
Total area
92,440 SF
Lot
9.76 ac (424,928 SF)
Zoning code
RMF1: MULTI-FAMILY RESIDE
APN
480000000781
UPID
US87-1327102
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
$10.93M
CAP Approach
CAP
$14.48M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$13.97M
Owner & transaction history
408 Trotman Way LLC · 4 yrs held
408 Trotman Way LLC
since 2021
Last sale
$13.5M
1 recorded transaction
Zoning & alternative use
RMF1: MULTI-FAMILY RESIDE · Chesapeake, 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 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
$14,380,000
ML approach
$10,925,000
CAP Approach
CAP Return
Estimation
6%
$15,685,000
6.5%
$14,480,000
7%
$13,445,000
Blend value · Realmo final
$13.97M
Range $12.57M – $15.36M · ±10% · vs last sale $13.50M (Dec 29 2021)
Last sale anchor
$13.50M
Dec 29 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
$151 / 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
$97,624
Tax year 2019
Assessed value
$13,745,500
Assessed 2023
Previous assessed
$13,684,800
+0.4% YoY
Effective rate
0.71%
On assessed value
Assessed land
$2,682,600
Assessed improvement
$11,062,900
Land market value
$2,682,600
Improvement market value
$11,062,900
Total market value
$13,745,500
Applied tax rate
42.0000
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
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Status
Off-Market
Year built
1985
Heating
HEAT PUMP
Stories
30
Units
1
Total area
92,440 SF
Lot
9.76 ac (424,928 SF)
Zoning code
RMF1: MULTI-FAMILY RESIDE
APN
480000000781
UPID
US87-1327102
Jurisdiction
CHESAPEAKE CITY
Zoning & alternative use
RMF1: MULTI-FAMILY RESIDE · Chesapeake, VA
Zoning RMF1: MULTI-FAMILY RESIDE · permitted uses
RMF1: MULTI-FAMILY RESIDE · 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.
Building & site characteristics
From public records
Year built
1985
Heating
HEAT PUMP
Stories
30
Units
1
Lot
9.76 ac
Current owner
From public records · entity-resolved
408 Trotman Way LLC
Entity
Mailing address
2410 EVERGREEN RD STE #104, GAMBRILLS, MD 21054-1979
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
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 29, 2021
$13,500,000
408 Trotman Way LLC
Oak Grove Associates LLC
Special Warranty Deed
$9,390,000 · Greystone Servicing Company LLC
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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