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Property profile & analytics
OFF-MARKET
Estimated value
$515,000
Individual retail properties
2801 Airline Blvd Portsmouth, VA 23701-2704
Entity Owned
22-yr Hold
~
Est. High Equity
Property ID
US87-0776863
Property profile
Verified
Property type
Individual retail properties
Use group
DRY CLEANER
Year built
1968
Construction
LIGHT FRAME
Total area
6,421 SF
Lot
0.75 ac (32,670 SF)
Zoning code
IL
APN
0575-0031
UPID
US87-0776863
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
-
Wash Land - Portsmouth (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$330k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$702k
Blend (final)
Blend
$515k
Owner & transaction history
Airline Investors LLC
Airline Investors LLC
4 recorded transactions
Zoning & alternative use
IL · Portsmouth, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$770,000
+71.6%
Office building
$745,000
+66.4%
Auto repair, garage
$645,000
+44.0%
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
$330,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
SERVICE SHOP (TV, RADIO, ELECTRIC, PLUMBING)
$450,000
Current use
MEDICAL BUILDING
$770,000
Change: +72% · Conversion: Difficult
OFFICE BUILDING
$745,000
Change: +66% · Conversion: Difficult
AUTO REPAIR, GARAGE
$645,000
Change: +44% · Conversion: Difficult
RETAIL STORES
$630,000
Change: +41% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$500,000
Change: +12% · Conversion: Difficult
COMMERCIAL (GENERAL)
$445,000
Change: -1% · Conversion: Difficult
Blend value · Realmo final
$515k
Range $464k – $567k · ±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
$80 / 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
$12,066
Tax year 2023
Assessed value
$754,570
Assessed 2023
Previous assessed
$754,570
+0.0% YoY
Effective rate
1.60%
On assessed value
Assessed land
$300,350
Assessed improvement
$454,220
Land market value
$300,350
Improvement market value
$454,220
Total market value
$754,570
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
Individual retail properties
Use group
DRY CLEANER
Status
Off-Market
Year built
1968
Construction
LIGHT FRAME
Heating
CENTRAL
Cooling
YES
Stories
1
Bathrooms
2
Total area
6,421 SF
Lot
0.75 ac (32,670 SF)
Zoning code
IL
APN
0575-0031
UPID
US87-0776863
Jurisdiction
PORTSMOUTH CITY
Zoning & alternative use
IL · Portsmouth, VA
Zoning IL · permitted uses
IL · Portsmouth, VA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Portsmouth. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
SERVICE SHOP (TV, RADIO, ELECTRIC, PLUMBING) Current
Est. value
$450,000
MEDICAL BUILDING
Est. value
$770,000
OFFICE BUILDING
Est. value
$745,000
AUTO REPAIR, GARAGE
Est. value
$645,000
RETAIL STORES
Est. value
$630,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$500,000
COMMERCIAL (GENERAL)
Est. value
$445,000
SERVICE SHOP (TV, RADIO, ELECTRIC, PLUMBING) Current
MEDICAL BUILDING
OFFICE BUILDING
AUTO REPAIR, GARAGE
RETAIL STORES
APARTMENT HOUSE (5+ UNITS)
COMMERCIAL (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
1968
Construction
LIGHT FRAME
Heating
CENTRAL
Cooling
Yes
Stories
1
Bathrooms
2
Lot
0.75 ac
Current owner
From public records · entity-resolved
Airline Investors LLC
Entity
Mailing address
PO BOX 16428, CHESAPEAKE, VA 23328-6428
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
—
—
Airline Investors LLC
—
Loan Modification
related
$239,000 · Bank Of America
—
—
Airline Investors LLC
—
Deed Of Trust
related
$680,000 · Bank Of America
—
—
Airline Investors LLC
—
Deed Of Trust
related
$239,000 · Bank Of America
—
—
Village Of Square Investors LLC|airline Investors
—
Deed Of Trust
related
$1,450,000 · Bank Of America
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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