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Property profile & analytics
OFF-MARKET
Estimated value
$8,260,000
Parking lots & garages
2 Hbr Ct Portsmouth, VA 23704
Entity Owned
8-yr Hold
Free & Clear
Property ID
US87-1016367
Property profile
Verified
Property type
Parking lots & garages
Use group
PARKING GARAGE, PARKING STRUCTURE
Year built
1982
Construction
FRAME
Total area
283,764 SF
Lot
1.29 ac (56,149 SF)
Zoning code
T6
APN
0004-0030
UPID
US87-1016367
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
-
Portside Park Park
-
Harbor Court Parking Garage Parking Lot & Garage
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$8.26M
Owner & transaction history
City Of Portsmouth Virginia · 8 yrs held
City Of Portsmouth Virginia
since 2017
1 recorded transaction
Zoning & alternative use
T6 · Portsmouth, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The T6 sub-district is designed for high-density and waterfront mixed uses. This sub-district is the most intense land use Downtown.
Zone name
Urban Core
General category
MIXED_USE
Zone area
95.68 ac
Source
Realmo
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 Portsmouth submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Portsmouth 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
$29 / 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 2023Property tax & assessments
Tax year 2023
Assessed value
$12,024,900
Assessed 2023
Previous assessed
$11,717,390
+2.6% YoY
Assessed land
$1,289,000
Assessed improvement
$10,735,900
Land market value
$1,289,000
Improvement market value
$10,735,900
Total market value
$12,024,900
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
Parking lots & garages
Use group
PARKING GARAGE, PARKING STRUCTURE
Status
Off-Market
Year built
1982
Construction
FRAME
Heating
NONE
Cooling
NONE
Stories
6
Total area
283,764 SF
Lot
1.29 ac (56,149 SF)
Zoning code
T6
APN
0004-0030
UPID
US87-1016367
Jurisdiction
PORTSMOUTH CITY
Zoning & alternative use
T6 · Portsmouth, VAZoning T6 · permitted uses
T6 · Portsmouth, VA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The T6 sub-district is designed for high-density and waterfront mixed uses. This sub-district is the most intense land use Downtown.
Zone name
Urban Core
General category
MIXED_USE
Zone area
95.68 ac
Source
Realmo
Building & site characteristics
From public records
Year built
1982
Construction
FRAME
Heating
NONE
Cooling
Yes
Stories
6
Lot
1.29 ac
Current owner
From public records · entity-resolved
City Of Portsmouth Virginia
Entity
Free & Clear · 8 yrs held
Mailing address
801 CRAWFORD ST, PORTSMOUTH, VA 23704-3822
Ownership since
2017
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
Dec 22, 2017
—
City Of Portsmouth Virginia
Portsmouth Redevelopment & Hou
Quit Claim Deed
related
—
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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