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Property profile & analytics
OFF-MARKET
Estimated value
$16,195,000
Distribution centers
2700 Trade St Chesapeake, VA 23323-3327
Individually Owned
19-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US87-0726846
Property profile
Verified
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Year built
2007
Total area
178,068 SF
Lot
14.72 ac (641,334 SF)
Zoning code
M1: LIGHT INDUSTRIAL
APN
340000002231
UPID
US87-0726846
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
-
Lineage Storage Facility Warehouse & Storage
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$21.80M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$16.20M
Owner & transaction history
Navy Bear · 19 yrs held
Navy Bear
since 2007
1 recorded transaction
Zoning & alternative use
M1: LIGHT INDUSTRIAL · Chesapeake, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$25.0M
+4.7%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$23,615,000
6.5%
$21,795,000
7%
$20,240,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$23,900,000
Current use
OFFICE BUILDING
$25,010,000
Change: +5% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$20,735,000
Change: -13% · Conversion: Easy
Blend value · Realmo final
$16.20M
Range $14.58M – $17.81M · ±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
$91 / 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
$189,984
Tax year 2019
Assessed value
$36,223,400
Assessed 2023
Previous assessed
$31,334,100
+15.6% YoY
Effective rate
0.52%
On assessed value
Assessed land
$1,585,800
Assessed improvement
$34,637,600
Land market value
$1,585,800
Improvement market value
$34,637,600
Total market value
$36,223,400
Applied tax rate
12.0000
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
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Status
Off-Market
Year built
2007
Heating
YES
Cooling
YES
Stories
20
Units
1
Total area
178,068 SF
Lot
14.72 ac (641,334 SF)
Zoning code
M1: LIGHT INDUSTRIAL
APN
340000002231
UPID
US87-0726846
Jurisdiction
CHESAPEAKE CITY
Zoning & alternative use
M1: LIGHT INDUSTRIAL · Chesapeake, VA
Zoning M1: LIGHT INDUSTRIAL · permitted uses
M1: LIGHT INDUSTRIAL · 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
WAREHOUSE, STORAGE Current
Est. value
$23.9M
OFFICE BUILDING
Est. value
$25.0M
INDUSTRIAL (GENERAL)
Est. value
$20.7M
WAREHOUSE, STORAGE Current
OFFICE BUILDING
INDUSTRIAL (GENERAL)
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
2007
Heating
YES
Cooling
Yes
Stories
20
Units
1
Lot
14.72 ac
Current owner
From public records · entity-resolved
Navy Bear
Individual
Mailing address
46500 HUMBOLDT DR, NOVI, MI 48377-2434
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2007
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 10, 2007
$2,150,000
Navy Bear
Seventeen East
Warranty Deed
$21,100 · Anglo Irish Bank Corporat
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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