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Property profile & analytics
OFF-MARKET
Estimated value
$11,160,000
Warehouses
301 Naval Base Rd Norfolk, VA 23505-3615
Entity Owned
10-yr Hold
Free & Clear
Property ID
US87-3376612
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
2002
Total area
84,030 SF
Lot
3.31 ac (144,271 SF)
Zoning code
I-3
APN
200819
UPID
US87-3376612
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
-
Cortez Dumpstеrs General Contractor Waste Management Facility
-
Extra Space Storage Storage Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$11.35M
Comparable Approach
Comparable
$14.12M
Blend (final)
Blend
$11.16M
Owner & transaction history
Extra Space Properties 106 LLC A De · 10 yrs held
Extra Space Properties 106 LLC A De
since 2015
1 recorded transaction
Zoning & alternative use
I-3 · Norfolk, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$16.5M
+80.8%
Auto repair, garage
$16.2M
+77.5%
Retail stores
$13.8M
+51.1%
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%
$12,295,000
6.5%
$11,350,000
7%
$10,535,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$9,155,000
Current use
OFFICE BUILDING
$16,545,000
Change: +81% · Conversion: Difficult
AUTO REPAIR, GARAGE
$16,245,000
Change: +77% · Conversion: Easy
RETAIL STORES
$13,835,000
Change: +51% · Conversion: Moderate
INDUSTRIAL (GENERAL)
$11,095,000
Change: +21% · Conversion: Easy
COMMERCIAL (GENERAL)
$9,745,000
Change: +6% · Conversion: Difficult
Blend value · Realmo final
$11.16M
Range $10.04M – $12.28M · ±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
$133 / 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
$115,533
Tax year 2024
Assessed value
$9,242,600
Assessed 2024
Previous assessed
$8,896,800
+3.9% YoY
Effective rate
1.25%
On assessed value
Assessed land
$1,154,000
Assessed improvement
$8,088,600
Land market value
$1,154,000
Improvement market value
$8,088,600
Total market value
$9,242,600
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
MINI-WAREHOUSE, STORAGE
Status
Off-Market
Year built
2002
Heating
FORCED AIR
Cooling
YES
Stories
2
Total area
84,030 SF
Lot
3.31 ac (144,271 SF)
Zoning code
I-3
APN
200819
UPID
US87-3376612
Jurisdiction
NORFOLK CITY
Zoning & alternative use
I-3 · Norfolk, VA
Zoning I-3 · permitted uses
I-3 · 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
$9.2M
OFFICE BUILDING
Est. value
$16.5M
AUTO REPAIR, GARAGE
Est. value
$16.2M
RETAIL STORES
Est. value
$13.8M
INDUSTRIAL (GENERAL)
Est. value
$11.1M
COMMERCIAL (GENERAL)
Est. value
$9.7M
WAREHOUSE, STORAGE Current
OFFICE BUILDING
AUTO REPAIR, GARAGE
RETAIL STORES
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
2002
Heating
FORCED AIR
Cooling
Yes
Stories
2
Lot
3.31 ac
Current owner
From public records · entity-resolved
Extra Space Properties 106 LLC A De
Entity
Free & Clear · 10 yrs held
Mailing address
PO BOX 71870, SALT LAKE CITY, UT 84171-0870
Ownership since
2015
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
Aug 26, 2015
—
Extra Space Properties 106 LLC A De
Extra Space Properties Two LLC A De
Deed
—
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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