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Property profile & analytics
OFF-MARKET
Estimated value
$570,000
Apartment buildings
243 Maryland Ave Portsmouth, VA 23707-1729
Entity Owned
13-yr Hold
Absentee Owner
Property ID
US87-3942996
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1971
Construction
BRICK
Total area
6,084 SF
Lot
0.26 ac (11,326 SF)
Zoning code
HR
APN
0138-0360
UPID
US87-3942996
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
by Request
CAP Approach
CAP
$750k
Comparable Approach
Comparable
$724k
Blend (final)
Blend
$570k
Owner & transaction history
Dominion Valley Holdings LLC · 13 yrs held
Dominion Valley Holdings LLC
since 2013
3 recorded transactions
Zoning & alternative use
HR · Portsmouth, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The HR sub district is intended for residential uses, but also allows some public and institutional uses.
Zone name
Historic Residential
General category
CIVIC_INSTITUTIONAL
Zone area
314.13 ac
Source
Realmo
Top alternative use upside
Office building
$840,000
+45.8%
Medical building
$745,000
+29.5%
Retail stores
$730,000
+26.9%
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 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$810,000
6.5%
$750,000
7%
$695,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$575,000
Current use
OFFICE BUILDING
$840,000
Change: +46% · Conversion: Moderate
MEDICAL BUILDING
$745,000
Change: +29% · Conversion: Moderate
RETAIL STORES
$730,000
Change: +27% · Conversion: Difficult
WAREHOUSE, STORAGE
$550,000
Change: -4% · Conversion: Difficult
Blend value · Realmo final
$570k
Range $513k – $627k · ±10%
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
$94 / 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
$7,979
Tax year 2023
Assessed value
$638,340
Assessed 2023
Previous assessed
$638,340
+0.0% YoY
Effective rate
1.25%
On assessed value
Assessed land
$109,020
Assessed improvement
$529,320
Land market value
$109,020
Improvement market value
$529,320
Total market value
$638,340
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
1971
Construction
BRICK
Heating
ELECTRIC
Cooling
YES
Stories
2
Units
8
Bathrooms
8
Total area
6,084 SF
Lot
0.26 ac (11,326 SF)
Zoning code
HR
APN
0138-0360
UPID
US87-3942996
Jurisdiction
PORTSMOUTH CITY
Zoning & alternative use
HR · Portsmouth, VAZoning HR · permitted uses
HR · Portsmouth, VA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The HR sub district is intended for residential uses, but also allows some public and institutional uses.
Zone name
Historic Residential
General category
CIVIC_INSTITUTIONAL
Zone area
314.13 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$575,000
OFFICE BUILDING
Est. value
$840,000
MEDICAL BUILDING
Est. value
$745,000
RETAIL STORES
Est. value
$730,000
WAREHOUSE, STORAGE
Est. value
$550,000
APARTMENT HOUSE (5+ UNITS) Current
OFFICE BUILDING
MEDICAL BUILDING
RETAIL STORES
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
1971
Construction
BRICK
Heating
ELECTRIC
Cooling
Yes
Stories
2
Units
8
Bathrooms
8
Lot
0.26 ac
Current owner
From public records · entity-resolved
Dominion Valley Holdings LLC
Entity
Mailing address
15429 PAINTERS CV WAY, HAYMARKET, VA 20169-8165
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2013
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
May 21, 2013
—
Dominion Valley Holdings LLC
Tidewater Ents LLC
Grant Deed
related
$268,000 · Towne Bank
Feb 2, 2006
$388,000
Tidewater Enterprises LLC
Periolus LLC
Grant Deed
$310,400 · Bank Of Commonwealth
—
—
Dominion Valley Holdings LLC
—
Loan Modification
related
$275,342 · Towne Bk
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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