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Property profile & analytics
OFF-MARKET
Estimated value
$870,000
Retail space
221 Mt Pleasant Rd Ste A Chesapeake, VA 23322-4155
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US87-1072199
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1997
Total area
6,491 SF
Lot
0.93 ac (40,511 SF)
Zoning code
B1: NEIGHBORHOOD BUSINESS
APN
480000000110
UPID
US87-1072199
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
-
Rachel Chastanet, MD, FACP Physician
-
K & M Winslow Associates, Inc. Tax Preparation
-
Mr. Robert Chastanet Physician
-
PEAK Wellness & Aesthetics (Previously Chesapeake Weight Loss) Weight Loss Service Doctor
-
Elina Reynolds Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$775k
CAP Approach
CAP
$945k
Comparable Approach
Comparable
$948k
Blend (final)
Blend
$870k
Owner & transaction history
700 LLC · 5 yrs held
700 LLC
since 2020
Last sale
$875,000
1 recorded transaction
Zoning & alternative use
B1: NEIGHBORHOOD BUSINESS · 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
$790,000
ML approach
$775,000
CAP Approach
CAP Return
Estimation
6%
$1,025,000
6.5%
$945,000
7%
$875,000
Alternative Use
Use
Estimation
RETAIL STORES
$1,215,000
Current use
COMMERCIAL (GENERAL)
$1,055,000
Change: -13% · Conversion: Easy
Blend value · Realmo final
$870k
Range $783k – $957k · ±10% · vs last sale $875k (Oct 15 2020)
Last sale anchor
$875k
Oct 15 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
$134 / 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
$7,850
Tax year 2019
Assessed value
$973,200
Assessed 2023
Previous assessed
$929,200
+4.7% YoY
Effective rate
0.81%
On assessed value
Assessed land
$511,500
Assessed improvement
$461,700
Land market value
$511,500
Improvement market value
$461,700
Total market value
$973,200
Applied tax rate
1.0000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1997
Heating
PACKAGE
Cooling
AC.PACKAGE
Stories
1
Units
1
Total area
6,491 SF
Lot
0.93 ac (40,511 SF)
Zoning code
B1: NEIGHBORHOOD BUSINESS
APN
480000000110
UPID
US87-1072199
Jurisdiction
CHESAPEAKE CITY
Zoning & alternative use
B1: NEIGHBORHOOD BUSINESS · Chesapeake, VAZoning B1: NEIGHBORHOOD BUSINESS · permitted uses
B1: NEIGHBORHOOD BUSINESS · Chesapeake, VA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$1.2M
COMMERCIAL (GENERAL)
Est. value
$1.1M
RETAIL STORES Current
COMMERCIAL (GENERAL)
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
1997
Heating
PACKAGE
Cooling
Yes
Stories
1
Units
1
Lot
0.93 ac
Current owner
From public records · entity-resolved
700 LLC
Entity
Mailing address
5520 GREENWICH RD STE #207, VIRGINIA BEACH, VA 23462-6541
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
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 15, 2020
$875,000
700 LLC
Starling Brothers LLC
Warranty Deed
$495,000 · Townebank
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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