Back to Search
Property profile & analytics
FOR LEASE
Medical Office Space
1933 Edwin Dr Chesapeake, VA 23322
Entity Owned
Absentee Owner
Free & Clear
Property ID
US87-2279823
For Lease
1 / 3
Contact for pricing
1933 Edwin Dr, Chesapeake, VA 23322
View Listing →
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2016
Total area
59,374 SF
Lot
12 ac (522,720 SF)
Zoning code
PUD: PLANNED UNIT DEVELOP
APN
730000001860
UPID
US87-2279823
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$5.02M
Blend (final)
Blend
$6.35M
Owner & transaction history
MPB INC
MPB INC
Zoning & alternative use
PUD: PLANNED UNIT DEVELOP · Chesapeake, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$9.8M
+150.9%
Restaurant
$7.8M
+99.5%
Office building
$7.3M
+87.1%
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 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MEDICAL BUILDING
$3,920,000
Current use
COMMERCIAL (GENERAL)
$9,830,000
Change: +151% · Conversion: Easy
RESTAURANT
$7,820,000
Change: +100% · Conversion: Difficult
OFFICE BUILDING
$7,330,000
Change: +87% · Conversion: Easy
AUTO REPAIR, GARAGE
$5,425,000
Change: +38% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$3,935,000
Change: +0% · Conversion: Moderate
Blend value · Realmo final
$6.35M
Range $5.72M – $6.99M · ±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
$107 / 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
$147,385
Tax year 2019
Assessed value
$14,241,400
Assessed 2023
Previous assessed
$15,637,600
-8.9% YoY
Effective rate
1.03%
On assessed value
Assessed land
$4,200,000
Assessed improvement
$10,041,400
Land market value
$4,200,000
Improvement market value
$10,041,400
Total market value
$14,241,400
Applied tax rate
23.0000
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
For Lease
Year built
2016
Heating
PACKAGE
Cooling
AC.PACKAGE
Stories
20
Units
1
Total area
59,374 SF
Lot
12 ac (522,720 SF)
Zoning code
PUD: PLANNED UNIT DEVELOP
APN
730000001860
UPID
US87-2279823
Jurisdiction
CHESAPEAKE CITY
Zoning & alternative use
PUD: PLANNED UNIT DEVELOP · Chesapeake, VAZoning PUD: PLANNED UNIT DEVELOP · permitted uses
PUD: PLANNED UNIT DEVELOP · Chesapeake, VA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$3.9M
COMMERCIAL (GENERAL)
Est. value
$9.8M
RESTAURANT
Est. value
$7.8M
OFFICE BUILDING
Est. value
$7.3M
AUTO REPAIR, GARAGE
Est. value
$5.4M
APARTMENT HOUSE (5+ UNITS)
Est. value
$3.9M
MEDICAL BUILDING Current
COMMERCIAL (GENERAL)
RESTAURANT
OFFICE BUILDING
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
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
2016
Heating
PACKAGE
Cooling
Yes
Stories
20
Units
1
Lot
12 ac
Current owner
From public records · entity-resolved
MPB INC
Entity
Free & Clear · 0 yrs held
Mailing address
6015 POPLAR HALL DR #214, NORFOLK, VA 23502-3819
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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?”
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.
