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Property profile & analytics
FOR SALE
Office buildings

2498 Airline Blvd Portsmouth, VA 23701

1,827 SF 0.52 ac lot Built 1950
Individually Owned 1-yr Hold Absentee Owner ~ Est. High Equity
Property ID
US87-1077708
Property profile
Verified
Property type Office buildings
Use group OFFICE BUILDING
Year built 1950
Construction LIGHT FRAME
Total area 1,827 SF
Lot 0.52 ac (22,651 SF)
Zoning code GMU
APN 0343-0070
UPID US87-1077708
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
  • Cannaverse Theater & Performing Art Venue Music Venue
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
$500k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$500k
Owner & transaction history
Area Code Smokes Incorporated · 1 yrs held
Area Code Smokes Incorporated
since 2024
Last sale
$500,000
4 recorded transactions
2024
Price N/A
2022
Price N/A
2022
Price N/A
2021
$500,000
Zoning & alternative use
GMU · Portsmouth, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description

Window signs located in the NMU, GMU, IN, and WF districts; and if consistent with applicable adopted design standards, window signs located in the MU-H district Signs oriented toward the interior of and intended to be viewed from within an outdoor recreation or entertainment establishment or facility Outdoor Advertising Signs (Billboards) These signs requir…

Zone name General Mixed Use
General category MIXED_USE
Zone area 717.41 ac
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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