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Property profile & analytics
OFF-MARKET
Estimated value
$6,935,000
Drug stores
201 Hanbury E Rd, Chesapeake, VA 23322-6613
Individually Owned
5-yr Hold
~
Est. High Equity
Property ID
US87-0833909
Property profile
Verified
Property type
Drug stores
Use group
DRUG STORE, PHARMACY
Year built
2008
Total area
14,736 SF
Lot
2.27 ac (98,707 SF)
Zoning code
B2: GENERAL BUSINESS
APN
600000002240
UPID
US87-0833909
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
-
Walgreens Photo (Bike/Boat/Book/etc) Store
-
Walgreens Cosmetic Store
-
Walgreens Pharmacy Pharmacy
-
Bitcoin Depot | BDCheckout Atm
-
Cardtronics Atm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$6.55M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$6.94M
Owner & transaction history
Exchangeright Net Leased Portfolio · 5 yrs held
Exchangeright Net Leased Portfolio
since 2020
Last sale
$7.3M
2 recorded transactions
Zoning & alternative use
B2: GENERAL BUSINESS · Chesapeake, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$6.6M
+137.2%
Restaurant
$5.4M
+96.6%
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
$6,595,000
ML approach
$6,550,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$6,550,000
Change: +137% · Conversion: Difficult
RESTAURANT
$5,430,000
Change: +97% · Conversion: Easy
Blend value · Realmo final
$6.94M
Range $6.24M – $7.63M · ±10% · vs last sale $7.30M (Oct 1 2020)
Last sale anchor
$7.30M
Oct 1 2020
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
$471 / 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
$48,393
Tax year 2019
Assessed value
$6,237,700
Assessed 2023
Previous assessed
$5,553,200
+12.3% YoY
Effective rate
0.78%
On assessed value
Assessed land
$2,379,300
Assessed improvement
$3,858,400
Land market value
$2,379,300
Improvement market value
$3,858,400
Total market value
$6,237,700
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
Drug stores
Use group
DRUG STORE, PHARMACY
Status
Off-Market
Year built
2008
Heating
PACKAGE
Cooling
AC.PACKAGE
Stories
1
Units
1
Total area
14,736 SF
Lot
2.27 ac (98,707 SF)
Zoning code
B2: GENERAL BUSINESS
APN
600000002240
UPID
US87-0833909
Jurisdiction
CHESAPEAKE CITY
Zoning & alternative use
B2: GENERAL BUSINESS · Chesapeake, VA
Zoning B2: GENERAL BUSINESS · permitted uses
B2: GENERAL BUSINESS · Chesapeake, VA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Chesapeake. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS)
Est. value
$6.6M
RESTAURANT
Est. value
$5.4M
APARTMENT HOUSE (5+ UNITS)
RESTAURANT
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
2008
Heating
PACKAGE
Cooling
Yes
Stories
1
Units
1
Lot
2.27 ac
Current owner
From public records · entity-resolved
Exchangeright Net Leased Portfolio
Individual
Mailing address
1055 E COLORADO BLVD STE #310, PASADENA, CA 91106-2374
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 1, 2020
$7,300,000
Exchangeright Net Leased Portfolio
Hoffler And Associates Eat LLC
Special Warranty Deed
$49,660,000 · Bank Of America NA
Apr 19, 2011
$5,634,000
Hoffler And Associates Eat LLC
Hanbury Village LLC
Warranty Deed
—
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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