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Property profile & analytics
OFF-MARKET
Estimated value
$11,805,000
Warehouses
1806 Little Crk Rd Norfolk, VA 23518-4204
Entity Owned
14-yr Hold
~
Est. High Equity
Property ID
US87-3364656
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
2007
Total area
90,000 SF
Lot
1.31 ac (57,194 SF)
Zoning code
C-2
APN
578
UPID
US87-3364656
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
-
Taylor Made Deck and Fence General Contractor Construction Company
-
Upstart Boardgamer, LLC Electronics & Wireless Store (Bike/Boat/Book/etc) Store
-
A&D Commercial and Residental Cleaning Hardware & Home Improvement
-
Life Storage - Norfolk Storage Facility
-
Norfolk Appliance Repair Home Appliance Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$12.16M
Comparable Approach
Comparable
$15.03M
Blend (final)
Blend
$11.81M
Owner & transaction history
Sovran Acquisition LP · 14 yrs held
Sovran Acquisition LP
since 2012
4 recorded transactions
Zoning & alternative use
C-2 · Norfolk, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Source
Adopted Zoning Ordinance
Top alternative use upside
Office building
$17.7M
+80.8%
Auto repair, garage
$17.4M
+77.5%
Retail stores
$14.8M
+51.1%
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
by Request
CAP Approach
CAP Return
Estimation
6%
$13,165,000
6.5%
$12,155,000
7%
$11,285,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$9,805,000
Current use
OFFICE BUILDING
$17,725,000
Change: +81% · Conversion: Difficult
AUTO REPAIR, GARAGE
$17,395,000
Change: +77% · Conversion: Easy
RETAIL STORES
$14,820,000
Change: +51% · Conversion: Moderate
INDUSTRIAL (GENERAL)
$11,885,000
Change: +21% · Conversion: Easy
COMMERCIAL (GENERAL)
$10,435,000
Change: +6% · Conversion: Difficult
Blend value · Realmo final
$11.81M
Range $10.62M – $12.99M · ±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
$131 / 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
$118,559
Tax year 2024
Assessed value
$9,484,700
Assessed 2024
Previous assessed
$9,105,300
+4.2% YoY
Effective rate
1.25%
On assessed value
Assessed land
$825,900
Assessed improvement
$8,658,800
Land market value
$825,900
Improvement market value
$8,658,800
Total market value
$9,484,700
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
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Status
Off-Market
Year built
2007
Heating
FORCED AIR
Cooling
YES
Stories
3
Total area
90,000 SF
Lot
1.31 ac (57,194 SF)
Zoning code
C-2
APN
578
UPID
US87-3364656
Jurisdiction
NORFOLK CITY
Zoning & alternative use
C-2 · Norfolk, VAZoning C-2 · permitted uses
C-2 · Norfolk, VA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Source
Adopted Zoning Ordinance
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$9.8M
OFFICE BUILDING
Est. value
$17.7M
AUTO REPAIR, GARAGE
Est. value
$17.4M
RETAIL STORES
Est. value
$14.8M
INDUSTRIAL (GENERAL)
Est. value
$11.9M
COMMERCIAL (GENERAL)
Est. value
$10.4M
WAREHOUSE, STORAGE Current
OFFICE BUILDING
AUTO REPAIR, GARAGE
RETAIL STORES
INDUSTRIAL (GENERAL)
COMMERCIAL (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
2007
Heating
FORCED AIR
Cooling
Yes
Stories
3
Lot
1.31 ac
Current owner
From public records · entity-resolved
Sovran Acquisition LP
Entity
Mailing address
6890 S 2300TH ST E, SALT LAKE CITY, UT 84171-6001
Ownership since
2012
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
Jun 21, 2012
$5,150,000
Sovran Acquisition LP
Jrpbm INC
Deed
—
Jan 19, 2007
—
Virginia Electric And Po
Jrpbm INC
Deed
—
May 9, 2006
$415,000
Jprbm INC
Bail Bonds INC
Deed
—
May 9, 2006
$350,000
Jrpbm INC
James T Lane
Deed
$3,200,000 · Bank Of Hampton Roads
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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