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Property profile & analytics
OFF-MARKET
Estimated value
$780,000
Apartment buildings
224 Sandpiper Dr Portsmouth, VA 23704-1544
Entity Owned
4-yr Hold
Property ID
US87-0084629
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1973
Construction
STONE
Total area
11,372 SF
Lot
1.09 ac (47,306 SF)
Zoning code
URM
APN
0080-0390
UPID
US87-0084629
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
-
Nest Apartments Apartment Building
-
Shea Terrace Apartments Apartment Building
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$610k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$946k
Blend (final)
Blend
$780k
Owner & transaction history
Nest Apartments LLC · 4 yrs held
Nest Apartments LLC
since 2022
Last sale
$906,000
4 recorded transactions
Zoning & alternative use
URM · Portsmouth, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$1.2M
+14.1%
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
$650,000
ML approach
$610,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$1,055,000
Current use
OFFICE BUILDING
$1,200,000
Change: +14% · Conversion: Moderate
WAREHOUSE, STORAGE
$1,030,000
Change: -2% · Conversion: Difficult
Blend value · Realmo final
$780k
Range $702k – $858k · ±10% · vs last sale $906k (Jan 10 2022)
Last sale anchor
$906k
Jan 10 2022
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
$69 / 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
$12,916
Tax year 2023
Assessed value
$892,410
Assessed 2023
Previous assessed
$892,410
+0.0% YoY
Effective rate
1.45%
On assessed value
Assessed land
$216,000
Assessed improvement
$676,410
Land market value
$216,000
Improvement market value
$676,410
Total market value
$892,410
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
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Status
Off-Market
Year built
1973
Construction
STONE
Heating
CENTRAL
Cooling
YES
Stories
2
Units
12
Bathrooms
12
Total area
11,372 SF
Lot
1.09 ac (47,306 SF)
Zoning code
URM
APN
0080-0390
UPID
US87-0084629
Jurisdiction
PORTSMOUTH CITY
Zoning & alternative use
URM · Portsmouth, VA
Zoning URM · permitted uses
URM · 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
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$1.1M
OFFICE BUILDING
Est. value
$1.2M
WAREHOUSE, STORAGE
Est. value
$1.0M
APARTMENT HOUSE (5+ UNITS) Current
OFFICE BUILDING
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
1973
Construction
STONE
Heating
CENTRAL
Cooling
Yes
Stories
2
Units
12
Bathrooms
12
Lot
1.09 ac
Current owner
From public records · entity-resolved
Nest Apartments LLC
Entity
Mailing address
3917 CHANTILLY RD, CHANTILLY, VA 20151-3310
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 10, 2022
$906,000
Nest Apartments LLC
Enclave Apartments LLC
Warranty Deed
$679,500 · First National Bank Of Pennsylvania
Dec 29, 2015
$331,600
Enclave Apartments LLC
Ashworth & Assocs LLC
Grant Deed
—
Dec 18, 2014
—
Ashworth & Associates LLC
Faison,charles C & Amy B
Grant Deed
related
—
Feb 14, 2005
$549,000
Charles Faison
Blue Lagoon L L C
Warranty Deed
$411,750 · Suntrust Bank
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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