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Property profile & analytics
FOR LEASE
Shopping centers
2012 Victory Blvd Portsmouth, VA 23702
Entity Owned
6-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US87-3930630
For Lease
1 / 2
$2,360,000
2012 Victory Blvd, Portsmouth, VA 23702
View Listing →
Property profile
Verified
Property type
Shopping centers
Use group
SHOPPING CENTER COMMON AREA
Year built
1985
Total area
88,730 SF
Lot
16.65 ac (725,100 SF)
Zoning code
GMU
APN
0456-0010
UPID
US87-3930630
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
-
Smoke-Stock PSD Furniture & Home Goods Home Decor Store
-
Beauty World (Bike/Boat/Book/etc) Store Cosmetic Store
-
Food Lion Grocery & Convenience Store Food Market
-
Gold Mine Inc. Industrial Park Production Facility
-
Western Union Bank Credit Union
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.36M
Owner & transaction history
Washington Of Victory LLC · 6 yrs held
Washington Of Victory LLC
since 2019
2 recorded transactions
Zoning & alternative use
GMU · Portsmouth, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
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
NEIGHBORHOOD: SHOPPING CENTER
$2,910,000
Current use
Blend value · Realmo final
$2.36M
Range $2.12M – $2.60M · ±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
$27 / 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
Tax billed
$157,953
Tax year 2023
Assessed value
$7,859,170
Assessed 2023
Previous assessed
$7,859,170
+0.0% YoY
Effective rate
2.01%
On assessed value
Assessed land
$4,135,580
Assessed improvement
$3,723,590
Land market value
$4,135,580
Improvement market value
$3,723,590
Total market value
$7,859,170
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
Shopping centers
Use group
SHOPPING CENTER COMMON AREA
Status
For Lease
Year built
1985
Heating
CENTRAL
Cooling
YES
Stories
1
Bathrooms
19
Total area
88,730 SF
Lot
16.65 ac (725,100 SF)
Zoning code
GMU
APN
0456-0010
UPID
US87-3930630
Jurisdiction
PORTSMOUTH CITY
Zoning & alternative use
GMU · Portsmouth, VA
Zoning GMU · permitted uses
GMU · Portsmouth, VA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Portsmouth. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$2.9M
NEIGHBORHOOD: SHOPPING CENTER Current
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
1985
Heating
CENTRAL
Cooling
Yes
Stories
1
Bathrooms
19
Lot
16.65 ac
Current owner
From public records · entity-resolved
Washington Of Victory LLC
Entity
Mailing address
177 WOODFERN DR, RICHMOND, VA 23238-6168
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2019
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
Nov 6, 2019
—
Washington Of Victory LLC
—
Deed
related
$8,100,000 · Acacia Fsb
—
—
Washington Of Victory LLC
—
Loan Modification
related
$8,100,000 · Acacia Fsb
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
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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