Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$2,055,000
Warehouses
1728 Military Hwy Chesapeake, VA 23320-2612
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US87-0732953
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1970
Total area
19,014 SF
Lot
1.18 ac (51,575 SF)
Zoning code
M1: LIGHT INDUSTRIAL
APN
280000000034
UPID
US87-0732953
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
-
Interstate Moving Chesapeake VA Moving Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.08M
CAP Approach
CAP
$2.33M
Comparable Approach
Comparable
$1.78M
Blend (final)
Blend
$2.06M
Owner & transaction history
Mits Property Management V LLC · 3 yrs held
Mits Property Management V LLC
since 2023
Last sale
$2.1M
2 recorded transactions
Zoning & alternative use
M1: LIGHT INDUSTRIAL · Chesapeake, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$3.2M
+19.7%
Office building
$2.7M
+0.8%
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
$2,000,000
ML approach
$2,080,000
CAP Approach
CAP Return
Estimation
6%
$2,520,000
6.5%
$2,325,000
7%
$2,160,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$2,660,000
Current use
COMMERCIAL (GENERAL)
$3,180,000
Change: +20% · Conversion: Difficult
OFFICE BUILDING
$2,680,000
Change: +1% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$2,215,000
Change: -17% · Conversion: Easy
Blend value · Realmo final
$2.06M
Range $1.85M – $2.26M · ±10% · vs last sale $2.07M (May 3 2023)
Last sale anchor
$2.07M
May 3 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
$108 / 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
$11,210
Tax year 2019
Assessed value
$1,349,600
Assessed 2023
Previous assessed
$1,338,700
+0.8% YoY
Effective rate
0.83%
On assessed value
Assessed land
$467,800
Assessed improvement
$881,800
Land market value
$467,800
Improvement market value
$881,800
Total market value
$1,349,600
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1970
Heating
PACKAGE
Cooling
AC.PACKAGE
Stories
1
Units
1
Total area
19,014 SF
Lot
1.18 ac (51,575 SF)
Zoning code
M1: LIGHT INDUSTRIAL
APN
280000000034
UPID
US87-0732953
Jurisdiction
CHESAPEAKE CITY
Zoning & alternative use
M1: LIGHT INDUSTRIAL · Chesapeake, VA
Zoning M1: LIGHT INDUSTRIAL · permitted uses
M1: LIGHT 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
WAREHOUSE, STORAGE Current
Est. value
$2.7M
COMMERCIAL (GENERAL)
Est. value
$3.2M
OFFICE BUILDING
Est. value
$2.7M
INDUSTRIAL (GENERAL)
Est. value
$2.2M
WAREHOUSE, STORAGE Current
COMMERCIAL (GENERAL)
OFFICE BUILDING
INDUSTRIAL (GENERAL)
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
1970
Heating
PACKAGE
Cooling
Yes
Stories
1
Units
1
Lot
1.18 ac
Current owner
From public records · entity-resolved
Mits Property Management V LLC
Entity
Mailing address
860 GREENBRIER CIR STE #304, CHESAPEAKE, VA 23320-2640
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
May 3, 2023
$2,065,000
Mits Property Management V LLC
1412 Tf LLC
Warranty Deed
$1,500,000 · Fulton Bank NA
Mar 8, 2022
$1,400,000
1412 Tf LLC
Jessie Mae Hillegass
Warranty Deed
$869,264 · Townebank
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 1728 Military Hwy?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
