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Property profile & analytics
OFF-MARKET
Estimated value
$1,550,000
Turn key restaurants
216 Carmichael Way Chesapeake, VA 23322
Entity Owned
4-yr Hold
Free & Clear
Property ID
US87-0449811
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
2009
Total area
6,306 SF
Lot
1.72 ac (74,923 SF)
Zoning code
PUD: PLANNED UNIT DEVELOP
APN
730000001763
UPID
US87-0449811
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
-
Buffalo Wild Wings Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.61M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.00M
Blend (final)
Blend
$1.55M
Owner & transaction history
Reidsville Centre LLC · 4 yrs held
Reidsville Centre LLC
since 2021
Last sale
$1.5M
2 recorded transactions
Zoning & alternative use
PUD: PLANNED UNIT DEVELOP · Chesapeake, 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 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
$1,600,000
ML approach
$1,610,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$2,325,000
Current use
Blend value · Realmo final
$1.55M
Range $1.40M – $1.71M · ±10% · vs last sale $1.50M (Oct 8 2021)
Last sale anchor
$1.50M
Oct 8 2021
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
$246 / 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
$21,510
Tax year 2019
Assessed value
$2,271,500
Assessed 2023
Previous assessed
$2,145,400
+5.9% YoY
Effective rate
0.95%
On assessed value
Assessed land
$774,000
Assessed improvement
$1,497,500
Land market value
$774,000
Improvement market value
$1,497,500
Total market value
$2,271,500
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
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
2009
Heating
PACKAGE
Cooling
AC.PACKAGE
Stories
1
Units
1
Total area
6,306 SF
Lot
1.72 ac (74,923 SF)
Zoning code
PUD: PLANNED UNIT DEVELOP
APN
730000001763
UPID
US87-0449811
Jurisdiction
CHESAPEAKE CITY
Zoning & alternative use
PUD: PLANNED UNIT DEVELOP · Chesapeake, VA
Zoning 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
Chesapeake. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT Current
Est. value
$2.3M
RESTAURANT 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
2009
Heating
PACKAGE
Cooling
Yes
Stories
1
Units
1
Lot
1.72 ac
Current owner
From public records · entity-resolved
Reidsville Centre LLC
Entity
Free & Clear · 4 yrs held
Mailing address
118 PO BOX 10550TH DR, DANVILLE, VA 24543-5010
Ownership since
2021
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 8, 2021
$1,500,000
Reidsville Centre LLC
Bronze Age Properties LLC
Special Warranty Deed
—
Dec 18, 2009
$1,133,333
Bronze Age Props L L C
Edinburgh North L L C
Warranty Deed
$500,000 · Private
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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