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Property profile & analytics
OFF-MARKET
Estimated value
$10,990,000
Strip malls
1819 Little Crk Rd Norfolk, VA 23518-4203
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US87-3356872
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1962
Total area
142,092 SF
Lot
11.2 ac (487,785 SF)
Zoning code
C-2
APN
41694400
UPID
US87-3356872
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
-
El Deportista Restaurant
-
USAA ATM Atm
-
USAA Atm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$11.77M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$10.99M
Owner & transaction history
Wedgewood Sc Investors LLC · 4 yrs held
Wedgewood Sc Investors LLC
since 2021
Last sale
$10.0M
1 recorded transaction
Zoning & alternative use
C-2 · Norfolk, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$13.9M
+122.5%
Industrial (general)
$12.5M
+101.1%
Commercial (general)
$12.1M
+95.0%
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
$12,190,000
ML approach
$11,765,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$13,860,000
Change: +123% · Conversion: Easy
INDUSTRIAL (GENERAL)
$12,525,000
Change: +101% · Conversion: Difficult
COMMERCIAL (GENERAL)
$12,145,000
Change: +95% · Conversion: Easy
MEDICAL BUILDING
$8,910,000
Change: +43% · Conversion: Difficult
Blend value · Realmo final
$10.99M
Range $9.89M – $12.09M · ±10% · vs last sale $10.00M (Nov 5 2021)
Last sale anchor
$10.00M
Nov 5 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
$77 / 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
$114,790
Tax year 2024
Assessed value
$9,183,200
Assessed 2024
Previous assessed
$8,959,200
+2.5% YoY
Effective rate
1.25%
On assessed value
Assessed land
$6,309,100
Assessed improvement
$2,874,100
Land market value
$6,309,100
Improvement market value
$2,874,100
Total market value
$9,183,200
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1962
Heating
FORCED AIR
Cooling
YES
Buildings
2
Stories
1
Total area
142,092 SF
Lot
11.2 ac (487,785 SF)
Zoning code
C-2
APN
41694400
UPID
US87-3356872
Jurisdiction
NORFOLK CITY
Zoning & alternative use
C-2 · Norfolk, VA
Zoning 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
Norfolk. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES
Est. value
$13.9M
INDUSTRIAL (GENERAL)
Est. value
$12.5M
COMMERCIAL (GENERAL)
Est. value
$12.1M
MEDICAL BUILDING
Est. value
$8.9M
RETAIL STORES
INDUSTRIAL (GENERAL)
COMMERCIAL (GENERAL)
MEDICAL BUILDING
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
1962
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
2
Lot
11.2 ac
Current owner
From public records · entity-resolved
Wedgewood Sc Investors LLC
Entity
Mailing address
3265 MERIDIAN PKWY STE #130, WESTON, FL 33331-3506
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
Nov 5, 2021
$10,000,000
Wedgewood Sc Investors LLC
Rcc Wedgewood Plaza LLC
Special Warranty Deed
$6,600,000 · Phl Variable Insurance Company
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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