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    Property profile & analytics

    260 York St Norfolk, VA 23510-1514

    • High-rise multifamily apartments
    • 92,596 SF
    • 0.82 lot acres
    OFF-MARKET
    Value Estimations
    $8,890,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US87-3367504
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Belmont at Freemason Apartments / Apartment Complex

    Property Details for 260 York St

    Year built
    2009
    Lot size
    0.82 lot acres
    Property size
    92,596 SF
    Zone code
    D-3
    Property type
    High-rise multifamily apartments
    APN
    911342
    APU
    911342

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $13,340,000
      AUTO REPAIR, GARAGE
      $11,165,000
      INDUSTRIAL (GENERAL)
      $8,165,000
      RETAIL STORES
      $7,895,000
      COMMERCIAL (GENERAL)
      $7,775,000
      OFFICE BUILDING
      $6,200,000
      MEDICAL BUILDING
      $5,810,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Norfolk
    County
    Norfolk City
    State
    Virginia
    Longitude
    -76.2928
    Latitude
    36.8539
    CBSA code
    47260
    CBSA name
    VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $386,388
    $1,747,300
    $29,163,700
    $30,911,000
    -
    $1,747,300
    $29,163,700
    $30,911,000

    Comparable in this City

    • Value Estimation
      $31,055,000
      337,760 SF

      330 Brambleton Ave

      HIGH-RISE APARTMENTS • 337,760 SF
      330 Brambleton Ave, Norfolk, VA 23510-1325
      View Details
    • Value Estimation
      $4,700,000
      47,915 SF

      269 York St

      HIGH-RISE APARTMENTS • 47,915 SF
      269 York St, Norfolk, VA 23510-1532
      View Details
    • Value Estimation
      $33,400,000
      363,974 SF

      321 Main St

      HIGH-RISE APARTMENTS • 363,974 SF
      321 Main St, Norfolk, VA 23510-1778
      View Details
    • Value Estimation
      $16,740,000
      14,250 SF

      130 Brooke Ave

      HIGH-RISE APARTMENTS • 14,250 SF
      130 Brooke Ave, Norfolk, VA 23510-1804
      View Details
    • Value Estimation
      $10,925,000
      61,038 SF

      117 City Hall Ave

      HIGH-RISE APARTMENTS • 61,038 SF
      117 City Hall Ave, Norfolk, VA 23510-1733
      View Details
    • Value Estimation
      $21,500,000
      107,400 SF

      229 Bute St

      HIGH-RISE APARTMENTS • 107,400 SF
      229 Bute St, Norfolk, VA 23510-1405
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Land in Arts Neon District

      Located in Arts Neon District, close to Downtown and Ghent.
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      6,400 SF

      Downtown Norfolk Restaurant/Bar for Sale

      Historic District, 6,400 SF, High Potential
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      Downtown Norfolk Land Opportunity

      Land for sale in the heart of Downtown Norfolk.
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      7,700 SF

      Norfolk Office Building For Sale

      7,700 SF office building available in Norfolk, Virginia.
      613 Woodis Ave, Norfolk, VA 23510
      View Details
    • $1,250,000
      6,400 SF

      Downtown Norfolk Restaurant Space Available

      Prime restaurant and bar space in Norfolk's historic district.
      241 Granby St, Norfolk, VA 23510
      View Details
    • $950,000
      6,000 SF

      Granby Street Mixed-Use Investment

      Downtown Norfolk, VA - High ROI
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      View Details

    Similar Nearby for Lease

    • Contact for pricing
      3,013 SF

      Downtown Norfolk Class A Office

      Class A office space in Downtown Norfolk's financial district.
      207-211 Granby St, Norfolk, VA 23510
      View Details
    • $28 SF/Yr
      2,000 SF

      Downtown Norfolk Commercial Space Available

      Centrally located commercial space in downtown Norfolk's historic district.
      440 Granby St, Norfolk, VA 23510
      View Details
    • Contact for pricing
      2,000 SF

      Downtown Norfolk Restaurant Space Available

      Second generation restaurant space in Downtown Norfolk for lease.
      151-155 Granby St, Norfolk, VA 23510
      View Details
    • Contact for pricing
      1,680 SF

      Retail Space on Granby Street

      Retail space with excellent exposure and high traffic volume.
      7623-7657 Granby St, Norfolk, VA 23510
      View Details
    • $19 SF/Yr
      14,000 SF

      Historic Norfolk Office Space

      Downtown Norfolk Office - 825 SF Available
      201 City Hall Ave, Norfolk, VA 23510
      View Details
    • Contact for pricing
      35,358 SF

      Hague Medical Center: Norfolk, VA

      Prime Medical Office Space: Norfolk, VA
      400 Brambleton Ave, Norfolk, VA 23510
      View Details
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    260 York St
    Norfolk, VA 23510-1514
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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