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Property profile & analytics
OFF-MARKET
Estimated value
$1,435,000
Warehouses
2842 Cromwell Rd Norfolk, VA 23509-2408
Entity Owned
8-yr Hold
~
Est. High Equity
Property ID
US87-3414730
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1954
Total area
15,219 SF
Lot
1.23 ac (53,579 SF)
Zoning code
I-1
APN
9859600
UPID
US87-3414730
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
-
Jody's Gourmet Popcorn (Bike/Boat/Book/etc) Store
-
Jody's Popcorn HQ Corporate Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.87M
Comparable Approach
Comparable
$940k
Blend (final)
Blend
$1.44M
Owner & transaction history
2842 Cromwell LLC A Virginia Limite · 8 yrs held
2842 Cromwell LLC A Virginia Limite
since 2017
2 recorded transactions
Zoning & alternative use
I-1 · Norfolk, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Industrial (general)
$2.0M
+21.2%
Commercial (general)
$1.8M
+6.5%
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 Norfolk submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Norfolk 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%
$2,020,000
6.5%
$1,865,000
7%
$1,730,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$1,660,000
Current use
INDUSTRIAL (GENERAL)
$2,010,000
Change: +21% · Conversion: Easy
COMMERCIAL (GENERAL)
$1,765,000
Change: +6% · Conversion: Difficult
Blend value · Realmo final
$1.44M
Range $1.29M – $1.58M · ±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
$94 / 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 2024Property tax & assessments
Tax year 2024
Tax billed
$14,049
Tax year 2024
Assessed value
$1,123,900
Assessed 2024
Previous assessed
$1,096,100
+2.5% YoY
Effective rate
1.25%
On assessed value
Assessed land
$258,700
Assessed improvement
$865,200
Land market value
$258,700
Improvement market value
$865,200
Total market value
$1,123,900
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1954
Heating
SPACE
Cooling
YES
Buildings
3
Stories
1
Total area
15,219 SF
Lot
1.23 ac (53,579 SF)
Zoning code
I-1
APN
9859600
UPID
US87-3414730
Jurisdiction
NORFOLK CITY
Zoning & alternative use
I-1 · Norfolk, VA
Zoning I-1 · permitted uses
I-1 · Norfolk, VA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Norfolk. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$1.7M
INDUSTRIAL (GENERAL)
Est. value
$2.0M
COMMERCIAL (GENERAL)
Est. value
$1.8M
WAREHOUSE, STORAGE Current
INDUSTRIAL (GENERAL)
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
1954
Heating
SPACE
Cooling
Yes
Stories
1
Buildings
3
Lot
1.23 ac
Current owner
From public records · entity-resolved
2842 Cromwell LLC A Virginia Limite
Entity
Mailing address
PO BOX 2491, NORFOLK, VA 23501-2491
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 31, 2017
—
2842 Cromwell LLC
—
Deed
related
$920,000 · Farmers Bank
Aug 3, 2017
$1,150,000
2842 Cromwell LLC A Virginia Limite
Hb Hunter Company Formerly Known As
Warranty Deed
$865,000 · Party III
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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