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    1929 Robert Hall Blvd, Unit 1000 Chesapeake, VA 23324-4328
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    Property profile & analytics

    1929 Robert Hall Blvd, Unit 1000, Chesapeake, VA 23324-4328

    View on Map
    • Apartment buildings
    • 38,401 SF
    • 2.47 lot acres
    Off-Market
    Last Sale Apr 2, 2021
    $5,310,515
    Property ID
    US87-1226914
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $5,610,000
    Show details
    Cap Rate Potential
    6.9%
    Apartment buildings
    Location Intelligence

    Current Use by Public Records

    • Apartment buildings

    Property Details for 1929 Robert Hall Blvd

    Year built
    2004
    Lot size
    2.47 lot acres
    Zone code
    O-I: OFFICE & INSTITUTION
    Property type
    Apartment buildings
    APN
    1550000001110
    APU
    1550000001110

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Apr 2, 2021 $3,203,809 Standard Chesapeake Liberty LLC Chesapeake Crossing Five LLC Special Warranty Deed $44M · Citibank NA
    Apr 2, 2021 $5,310,515 Standard Chesapeake Liberty LLC Chesapeake Crossing Four LLC Special Warranty Deed —

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $5,655,000
      ML approach
      $5,760,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $6,515,000
      6.5%
      $6,015,000
      7%
      $5,585,000

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Chesapeake
    County
    Chesapeake City
    State
    Virginia
    Longitude
    -76.2568
    Latitude
    36.7882
    CBSA code
    47260
    CBSA name
    VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2019
    $41,913
    $988,800
    $4,234,300
    $5,223,100
    -
    $988,800
    $4,234,300
    $5,223,100

    Comparable in this City

    • Value Estimation
      $16,695,000
      97,632 SF

      4200 Reid St

      APARTMENT HOUSE (5+ UNITS)
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    • Value Estimation
      $16,520,000
      108,303 SF

      1937 Robert Hall Blvd, Unit 1101

      APARTMENT HOUSE (5+ UNITS)
      1937 Robert Hall Blvd, Chesapeake, VA 23324-4302
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    • Value Estimation
      $635,000
      3,816 SF

      1 Grady St

      APARTMENT HOUSE (5+ UNITS)
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      View Details
    • Value Estimation
      $16,395,000
      79,104 SF

      2100 Farmer Ln, Unit 1

      APARTMENT HOUSE (5+ UNITS)
      2100 Farmer Ln, Chesapeake, VA 23324-3827
      View Details
    • Value Estimation
      $12,560,000
      87,048 SF

      1925 Robert Hall Blvd

      APARTMENT HOUSE (5+ UNITS)
      1925 Robert Hall Blvd, Chesapeake, VA 23324-4314
      View Details
    • Value Estimation by Request
      3,090 SF

      1038 Decatur St

      Individual retail properties
      1038 Decatur St, Chesapeake, VA 23324
      View Details

    Similar Nearby for Sale

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      4,000 SF

      Mixed-Use Building with Rental Units

      Fully rented mixed-use property with two retail spaces and three apartments, supported by five electric meters.
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    • $349,000
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      Renovated Commercial Building on Corner Lot

      Fully renovated commercial building on high-visibility corner lot for sale.
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    • $37,500
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      Residential Land in South Norfolk

      Residential land with development potential in Chesapeake, Virginia.
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      0.10 Acres

      Buildable Lot in South Norfolk

      Infill lot with redevelopment potential in Chesapeake, Virginia.
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      Chesapeake Land with M-2 Zoning

      Land with M-2 zoning, ideal for commercial or industrial use.
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    Similar Nearby for Lease

    • Contact for pricing

      Chesapeake Industrial Spaces Available

      Industrial spaces available for rent in Chesapeake, Virginia.
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      Retail Space in Liberty Plaza

      Retail space for lease in Chesapeake's South Norfolk submarket.
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      View Details
    • Contact for pricing

      Commercial Land Available For Lease

      Commercial land for lease, available November 1, 2024.
      192 Providence Rd, Chesapeake, VA 23324
      View Details
    • Contact for pricing

      Office Space For Rent

      Single tenant office space available for rent.
      4039 Buell St, Chesapeake, VA 23324
      View Details
    • Contact for pricing
      10,125 SF

      Regional Shopping Center Space Available

      Value-oriented shopping center with space for lease, Summer 2024 opening.
      1903 S Military Hwy, Chesapeake, VA 23324
      View Details
    • Contact for pricing
      2,500 SF

      Retail Space in Regional Center

      Retail space available in value-oriented shopping center.
      1905 S Military Hwy, Chesapeake, VA 23324
      View Details
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    Chesapeake, VA 23324-4328
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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