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Property profile & analytics
OFF-MARKET
Apartment buildings
2700 Jefferson Ave Newport News, VA 23607-4015
Entity Owned
3-yr Hold
Property ID
US87-0837416
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1950
Total area
925 SF
Lot
0.8 ac (34,717 SF)
Zoning code
C1
APN
306030309
UPID
US87-0837416
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
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Choice Neighborhood III-r LLC · 3 yrs held
Choice Neighborhood III-r LLC
since 2022
7 recorded transactions
Zoning & alternative use
C1 · Newport News, 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 Newport News submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Newport News 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$67,862
Tax year 2023
Assessed value
$5,751,000
Assessed 2023
Previous assessed
$5,751,000
+0.0% YoY
Effective rate
1.18%
On assessed value
Assessed land
$382,100
Assessed improvement
$5,368,900
Land market value
$382,100
Improvement market value
$5,368,900
Total market value
$5,751,000
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
1950
Heating
SPACE
Stories
1
Total area
925 SF
Lot
0.8 ac (34,717 SF)
Zoning code
C1
APN
306030309
UPID
US87-0837416
Jurisdiction
NEWPORT NEWS CITY
Zoning & alternative use
C1 · Newport News, VA
Zoning C1 · permitted uses
C1 · Newport News, VA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Newport News. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1950
Heating
SPACE
Stories
1
Lot
0.8 ac
Current owner
From public records · entity-resolved
Choice Neighborhood III-r LLC
Entity
Mailing address
227 27TH ST, NEWPORT NEWS, VA 23607-3901
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
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 23, 2024
—
Choice Neighborhood II LLC
—
Deed
related
$700,000 · Newport News Redevelopment & Housing Aut
Feb 22, 2023
—
Choice Neighborhood Commercial Part
—
Deed
related
$594,558 · Newport News Redevelopment And Housing A
Dec 12, 2022
—
Choice Neighborhood III-r LLC
Newport News Redevelopment And Hous
Gift Deed
related
—
Jun 23, 2021
—
Choice Neighborhood I LLC
Newport News Redevelopment And Hous
Special Warranty Deed
—
Jun 23, 2021
$312,600
Carrier Point Commercial Partners L
Newport News Redevelopment And Hous
Special Warranty Deed
$6,800 · Newport News Redevelopment And Housing A
Apr 18, 2012
$60,300
Newport News Redev
Frank,jonathan E & Steven P
Grant Deed
—
Jan 17, 2012
—
Berger Madeline F Living Trust
Berger,madeline F
Quit Claim Deed
related
—
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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