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Property profile & analytics
OFF-MARKET
Estimated value
$7,905,000
Automotive properties
1701 Military Hwy Chesapeake, VA 23320-2611
Entity Owned
3-yr Hold
Free & Clear
Property ID
US87-0906340
Property profile
Verified
Property type
Automotive properties
Use group
VEHICLE SALES, RENTALS
Year built
1987
Total area
26,084 SF
Lot
4.66 ac (202,990 SF)
Zoning code
B4: SHOPPING CENTER
APN
200000000420
UPID
US87-0906340
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
-
Priority Acura Car Dealership Auto Repair Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$8.69M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$7.87M
Blend (final)
Blend
$7.91M
Owner & transaction history
Lithia Va Real Estate LLC · 3 yrs held
Lithia Va Real Estate LLC
since 2023
Last sale
$8.0M
2 recorded transactions
Zoning & alternative use
B4: SHOPPING CENTER · Chesapeake, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$11.6M
+59.8%
Restaurant
$9.6M
+32.4%
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
$7,760,000
ML approach
$8,685,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
AUTO REPAIR, GARAGE
$7,255,000
Current use
APARTMENT HOUSE (5+ UNITS)
$11,595,000
Change: +60% · Conversion: Difficult
RESTAURANT
$9,610,000
Change: +32% · Conversion: Difficult
Blend value · Realmo final
$7.91M
Range $7.11M – $8.70M · ±10% · vs last sale $8.00M (Jun 15 2023)
Last sale anchor
$8.00M
Jun 15 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
$303 / 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
$61,620
Tax year 2019
Assessed value
$6,632,300
Assessed 2023
Previous assessed
$6,335,600
+4.7% YoY
Effective rate
0.93%
On assessed value
Assessed land
$2,796,000
Assessed improvement
$3,836,300
Land market value
$2,796,000
Improvement market value
$3,836,300
Total market value
$6,632,300
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
Automotive properties
Use group
VEHICLE SALES, RENTALS
Status
Off-Market
Year built
1987
Heating
HEAT PUMP
Stories
1
Units
1
Total area
26,084 SF
Lot
4.66 ac (202,990 SF)
Zoning code
B4: SHOPPING CENTER
APN
200000000420
UPID
US87-0906340
Jurisdiction
CHESAPEAKE CITY
Zoning & alternative use
B4: SHOPPING CENTER · Chesapeake, VA
Zoning B4: SHOPPING CENTER · permitted uses
B4: SHOPPING CENTER · 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
AUTO REPAIR, GARAGE Current
Est. value
$7.3M
APARTMENT HOUSE (5+ UNITS)
Est. value
$11.6M
RESTAURANT
Est. value
$9.6M
AUTO REPAIR, GARAGE Current
APARTMENT HOUSE (5+ UNITS)
RESTAURANT
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
1987
Heating
HEAT PUMP
Stories
1
Units
1
Lot
4.66 ac
Current owner
From public records · entity-resolved
Lithia Va Real Estate LLC
Entity
Free & Clear · 3 yrs held
Mailing address
150 N BARTLETT ST, MEDFORD, OR 97501-6032
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
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 15, 2023
$8,000,000
Lithia Va Real Estate LLC
Ellmer Properties Greenbrier II LLC
Special Warranty Deed
—
Oct 28, 2011
$3,729,375
Elmer Props Greenbrier II LLC
Riddle Acura Properties LLC
Special Warranty Deed
$3,800,000 · Suntrust Bank
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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