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Property profile & analytics
OFF-MARKET
Estimated value
$3,425,000
Theaters & concert halls
2413 Chesapeake Sq Ring Rd Chesapeake, VA 23321-2151
Entity Owned
2-yr Hold
Free & Clear
Property ID
US87-0534937
Property profile
Verified
Property type
Theaters & concert halls
Use group
THEATER (MOVIE)
Year built
2011
Total area
42,346 SF
Lot
6.36 ac (277,216 SF)
Zoning code
B4: SHOPPING CENTER
APN
106009000020
UPID
US87-0534937
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
-
Cinemark Chesapeake Square and XD Cinema Theater & Performing Art Venue
-
Westside Church Church
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.31M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$3.43M
Owner & transaction history
K H Western Branch Theater LLC · 2 yrs held
K H Western Branch Theater LLC
since 2023
Last sale
$3.5M
3 recorded transactions
Zoning & alternative use
B4: SHOPPING CENTER · 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
$3,395,000
ML approach
$3,310,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$4,455,000
Change: 0% · Conversion: Difficult
RESTAURANT
$3,570,000
Change: 0% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$2,805,000
Change: 0% · Conversion: Difficult
MEDICAL BUILDING
$2,795,000
Change: 0% · Conversion: Difficult
AUTO REPAIR, GARAGE
$2,675,000
Change: 0% · Conversion: Difficult
WAREHOUSE, STORAGE
$2,380,000
Change: 0% · Conversion: Difficult
Blend value · Realmo final
$3.43M
Range $3.08M – $3.77M · ±10% · vs last sale $3.50M (Aug 23 2023)
Last sale anchor
$3.50M
Aug 23 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
$81 / 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
$108,021
Tax year 2019
Assessed value
$9,966,600
Assessed 2023
Previous assessed
$8,961,500
+11.2% YoY
Effective rate
1.08%
On assessed value
Assessed land
$2,227,400
Assessed improvement
$7,739,200
Land market value
$2,227,400
Improvement market value
$7,739,200
Total market value
$9,966,600
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
Theaters & concert halls
Use group
THEATER (MOVIE)
Status
Off-Market
Year built
2011
Heating
PACKAGE
Cooling
AC.PACKAGE
Stories
1
Units
1
Total area
42,346 SF
Lot
6.36 ac (277,216 SF)
Zoning code
B4: SHOPPING CENTER
APN
106009000020
UPID
US87-0534937
Jurisdiction
CHESAPEAKE CITY
Zoning & alternative use
B4: SHOPPING CENTER · Chesapeake, VA
Zoning B4: SHOPPING CENTER · permitted uses
B4: SHOPPING CENTER · 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
OFFICE BUILDING
Est. value
$4.5M
RESTAURANT
Est. value
$3.6M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.8M
MEDICAL BUILDING
Est. value
$2.8M
AUTO REPAIR, GARAGE
Est. value
$2.7M
WAREHOUSE, STORAGE
Est. value
$2.4M
OFFICE BUILDING
RESTAURANT
APARTMENT HOUSE (5+ UNITS)
MEDICAL BUILDING
AUTO REPAIR, GARAGE
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
2011
Heating
PACKAGE
Cooling
Yes
Stories
1
Units
1
Lot
6.36 ac
Current owner
From public records · entity-resolved
K H Western Branch Theater LLC
Entity
Free & Clear · 2 yrs held
Mailing address
1128 INDEPENDENCE BLVD STE #200, VIRGINIA BEACH, VA 23455-5555
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 23, 2023
$3,500,000
K H Western Branch Theater LLC
Chesapeake Theater LLC
Special Warranty Deed
—
Aug 3, 2022
—
Chesapeake Theater LLC
—
Deed
related
$126,183,320 · Glas Americas LLC
Dec 9, 2010
$1,500,000
Chesapeake Theater LLC
Dillard's INC
Special 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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