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Property profile & analytics
OFF-MARKET
Estimated value
$30,060,000
Office buildings
2155 Steppingstone Sq Chesapeake, VA 23320-2517
Entity Owned
2-yr Hold
Free & Clear
Property ID
US87-2304760
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2014
Total area
154,647 SF
Lot
17.74 ac (772,798 SF)
Zoning code
M1: LIGHT INDUSTRIAL
APN
200000001170
UPID
US87-2304760
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
-
Oceaneering Marine Services Division General Contractor Construction Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$30.06M
CAP Approach
CAP
$38.83M
Comparable Approach
Comparable
$27.68M
Blend (final)
Blend
$30.06M
Owner & transaction history
Nhnr Hold Co 1 LLC · 2 yrs held
Nhnr Hold Co 1 LLC
since 2024
Last sale
$30.1M
3 recorded transactions
Zoning & alternative use
M1: LIGHT INDUSTRIAL · Chesapeake, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$43.0M
+97.5%
Retail stores
$29.0M
+33.0%
Commercial (general)
$25.9M
+18.7%
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
$30,060,000
ML approach
$30,060,000
CAP Approach
CAP Return
Estimation
6%
$42,065,000
6.5%
$38,830,000
7%
$36,055,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$21,790,000
Current use
AUTO REPAIR, GARAGE
$43,025,000
Change: +97% · Conversion: Difficult
RETAIL STORES
$28,975,000
Change: +33% · Conversion: Moderate
COMMERCIAL (GENERAL)
$25,870,000
Change: +19% · Conversion: Easy
WAREHOUSE, STORAGE
$21,620,000
Change: -1% · Conversion: Difficult
Blend value · Realmo final
$30.06M
Range $27.05M – $33.07M · ±10% · vs last sale $30.06M (Feb 7 2024)
Last sale anchor
$30.06M
Feb 7 2024
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
$194 / 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
$302,614
Tax year 2019
Assessed value
$30,061,500
Assessed 2023
Previous assessed
$30,061,500
+0.0% YoY
Effective rate
1.01%
On assessed value
Assessed land
$3,991,700
Assessed improvement
$26,069,800
Land market value
$3,991,700
Improvement market value
$26,069,800
Total market value
$30,061,500
Applied tax rate
42.0000
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
2014
Heating
PACKAGE
Cooling
AC.PACKAGE
Stories
20
Units
1
Total area
154,647 SF
Lot
17.74 ac (772,798 SF)
Zoning code
M1: LIGHT INDUSTRIAL
APN
200000001170
UPID
US87-2304760
Jurisdiction
CHESAPEAKE CITY
Zoning & alternative use
M1: LIGHT INDUSTRIAL · Chesapeake, VA
Zoning M1: LIGHT INDUSTRIAL · permitted uses
M1: LIGHT INDUSTRIAL · 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
OFFICE BUILDING Current
Est. value
$21.8M
AUTO REPAIR, GARAGE
Est. value
$43.0M
RETAIL STORES
Est. value
$29.0M
COMMERCIAL (GENERAL)
Est. value
$25.9M
WAREHOUSE, STORAGE
Est. value
$21.6M
OFFICE BUILDING Current
AUTO REPAIR, GARAGE
RETAIL STORES
COMMERCIAL (GENERAL)
WAREHOUSE, STORAGE
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
2014
Heating
PACKAGE
Cooling
Yes
Stories
20
Units
1
Lot
17.74 ac
Current owner
From public records · entity-resolved
Nhnr Hold Co 1 LLC
Entity
Free & Clear · 2 yrs held
Mailing address
1585 BROADWAY, NEW YORK, NY 10036-8200
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 24, 2025
—
Nhnr Hold Co 1 LLC
—
Deed
related
$106,250,000 · Athene Annuity And Life Company
Feb 7, 2024
$30,061,500
Nhnr Hold Co 1 LLC
Lcn Ocn Chesapeake Va LLC
Special Warranty Deed
—
Nov 4, 2015
$30,000,000
Lcn Ocn Chesapeake Va LLC A Delawar
Greenbrier Ocean Partners LLC A Vir
Special 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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