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Property profile & analytics
OFF-MARKET
Estimated value
$550,000
Grocery and convenience stores
2241 Military Hwy Chesapeake, VA 23320-5998
Entity Owned
2-yr Hold
Free & Clear
Property ID
US87-0925379
Property profile
Verified
Property type
Grocery and convenience stores
Use group
CONVENIENCE STORE
Year built
2004
Total area
2,933 SF
Lot
1.62 ac (70,611 SF)
Zoning code
B2: GENERAL BUSINESS
APN
1670000000081
UPID
US87-0925379
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
-
Exxon Gas Station
-
ATM Atm
-
Skymart Car Wash
-
Bitstop Bitcoin ATM Atm Crypto Atm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$470k
CAP Approach
CAP
$505k
Comparable Approach
Comparable
$372k
Blend (final)
Blend
$550k
Owner & transaction history
Atlantic Oil LLC · 2 yrs held
Atlantic Oil LLC
since 2023
Last sale
$600,000
1 recorded transaction
Zoning & alternative use
B2: GENERAL BUSINESS · Chesapeake, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$470,000
+644.9%
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
$580,000
ML approach
$470,000
CAP Approach
CAP Return
Estimation
6%
$545,000
6.5%
$505,000
7%
$470,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$470,000
Change: +645% · Conversion: Easy
Blend value · Realmo final
$550k
Range $495k – $605k · ±10% · vs last sale $600k (Dec 11 2023)
Last sale anchor
$600k
Dec 11 2023
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
$188 / 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
$15,387
Tax year 2019
Assessed value
$2,300,500
Assessed 2023
Previous assessed
$2,300,500
+0.0% YoY
Effective rate
0.67%
On assessed value
Assessed land
$648,400
Assessed improvement
$1,652,100
Land market value
$648,400
Improvement market value
$1,652,100
Total market value
$2,300,500
Applied tax rate
31.0000
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
Grocery and convenience stores
Use group
CONVENIENCE STORE
Status
Off-Market
Year built
2004
Heating
HEAT PUMP
Stories
1
Units
1
Total area
2,933 SF
Lot
1.62 ac (70,611 SF)
Zoning code
B2: GENERAL BUSINESS
APN
1670000000081
UPID
US87-0925379
Jurisdiction
CHESAPEAKE CITY
Zoning & alternative use
B2: GENERAL BUSINESS · Chesapeake, VA
Zoning B2: GENERAL BUSINESS · permitted uses
B2: GENERAL BUSINESS · 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
COMMERCIAL (GENERAL)
Est. value
$470,000
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
2004
Heating
HEAT PUMP
Stories
1
Units
1
Lot
1.62 ac
Current owner
From public records · entity-resolved
Atlantic Oil LLC
Entity
Free & Clear · 2 yrs held
Mailing address
5048 S VIRGINIA BCH BLVD, VIRGINIA BEACH, VA 23462-6627
Ownership since
2023
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
Dec 11, 2023
$600,000
Atlantic Oil LLC
Raceco Oil Co LLC
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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