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Property profile & analytics
OFF-MARKET
Estimated value
$2,930,000
Retail space
2400 Chesapeake Sq Ring Rd Ste 100 Chesapeake, VA 23321-2245
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US87-0711974
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1996
Total area
6,765 SF
Lot
1.2 ac (52,228 SF)
Zoning code
B2: GENERAL BUSINESS
APN
106009000090
UPID
US87-0711974
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.93M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.89M
Blend (final)
Blend
$2.93M
Owner & transaction history
Plazza Enterprises LLC · 4 yrs held
Plazza Enterprises LLC
since 2022
Last sale
$3.5M
4 recorded transactions
Zoning & alternative use
B2: GENERAL BUSINESS · Chesapeake, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$3.0M
+137.2%
Restaurant
$2.5M
+96.6%
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
$2,880,000
ML approach
$2,930,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$3,005,000
Change: +137% · Conversion: Difficult
RESTAURANT
$2,490,000
Change: +97% · Conversion: Easy
Blend value · Realmo final
$2.93M
Range $2.64M – $3.22M · ±10% · vs last sale $3.48M (Mar 16 2022)
Last sale anchor
$3.48M
Mar 16 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
$433 / 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
$29,572
Tax year 2019
Assessed value
$2,726,900
Assessed 2023
Previous assessed
$2,544,700
+7.2% YoY
Effective rate
1.08%
On assessed value
Assessed land
$1,139,100
Assessed improvement
$1,587,800
Land market value
$1,139,100
Improvement market value
$1,587,800
Total market value
$2,726,900
Applied tax rate
52.0000
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
1996
Heating
PACKAGE
Cooling
AC.PACKAGE
Stories
1
Units
1
Total area
6,765 SF
Lot
1.2 ac (52,228 SF)
Zoning code
B2: GENERAL BUSINESS
APN
106009000090
UPID
US87-0711974
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
APARTMENT HOUSE (5+ UNITS)
Est. value
$3.0M
RESTAURANT
Est. value
$2.5M
APARTMENT HOUSE (5+ UNITS)
RESTAURANT
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
1996
Heating
PACKAGE
Cooling
Yes
Stories
1
Units
1
Lot
1.2 ac
Current owner
From public records · entity-resolved
Plazza Enterprises LLC
Entity
Mailing address
21 SW PALM CV DR, PALM CITY, FL 34990-4318
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
Mar 16, 2022
$3,475,000
Plazza Enterprises LLC
2400 Chesapeake Square Ring Road Ll
Special Warranty Deed
$2,137,125 · Credit Union 1
Jun 25, 2020
—
2400 Chesapeake Square Ring Road Ll
Southstar Mountain View LLC
Special Warranty Deed
—
Mar 2, 2015
$3,500,000
Southstar Mountain View LLC
T4 Csp LLC
Special Warranty Deed
$2,600,000 · Langley Federal Credit Union
Sep 13, 2013
$1,600,000
T4 Csp LLC
Kellys At Cheaspeake Square Ll
Warranty Deed
$2,000,000 · Monarch 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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