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Property profile & analytics
OFF-MARKET
Estimated value
$505,000
Office Spaces
219 Granby St 11 Norfolk, VA 23510-1805
Entity Owned
17-yr Hold
Free & Clear
Property ID
US87-3364454
Property profile
Verified
Property type
Office Spaces
Use group
CONDOMINIUM OFFICES
Year built
1907
Total area
2,900 SF
Lot
0.03 ac (1,241 SF)
Zoning code
D-3
APN
37349904
UPID
US87-3364454
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
-
219 Bistro Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$310k
CAP Approach
CAP
$660k
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$505k
Owner & transaction history
Sigraz LLC · 17 yrs held
Sigraz LLC
since 2009
2 recorded transactions
Zoning & alternative use
D-3 · Norfolk, 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 Norfolk submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Norfolk 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
$310,000
CAP Approach
CAP Return
Estimation
6%
$715,000
6.5%
$660,000
7%
$610,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$570,000
Current use
AUTO REPAIR, GARAGE
$560,000
Change: -2% · Conversion: Difficult
RETAIL STORES
$475,000
Change: -16% · Conversion: Moderate
Blend value · Realmo final
$505k
Range $455k – $556k · ±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
$174 / 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 2024Property tax & assessments
Tax year 2024
Tax billed
$7,205
Tax year 2024
Assessed value
$511,000
Assessed 2024
Previous assessed
$498,800
+2.4% YoY
Effective rate
1.41%
On assessed value
Assessed land
$80,700
Assessed improvement
$430,300
Land market value
$80,700
Improvement market value
$430,300
Total market value
$511,000
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 Spaces
Use group
CONDOMINIUM OFFICES
Status
Off-Market
Year built
1907
Heating
FORCED AIR
Cooling
YES
Stories
1
Total area
2,900 SF
Lot
0.03 ac (1,241 SF)
Zoning code
D-3
APN
37349904
UPID
US87-3364454
Jurisdiction
NORFOLK CITY
Zoning & alternative use
D-3 · Norfolk, VA
Zoning D-3 · permitted uses
D-3 · Norfolk, VA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Norfolk. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$570,000
AUTO REPAIR, GARAGE
Est. value
$560,000
RETAIL STORES
Est. value
$475,000
OFFICE BUILDING Current
AUTO REPAIR, GARAGE
RETAIL STORES
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
1907
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
0.03 ac
Current owner
From public records · entity-resolved
Sigraz LLC
Entity
Free & Clear · 17 yrs held
Mailing address
305 BROOKE AVE APT #404, NORFOLK, VA 23510-1347
Ownership since
2009
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
Jun 16, 2009
$410,000
Sigraz LLC
Maxfields Corporation
Trustees Deed
related
—
Feb 6, 2006
$775,000
Maxfields Corp
219 Granby LLC
Deed
$702,000 · Bank Of The Commonwealth
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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