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Property profile & analytics
OFF-MARKET
Office buildings
311 Johnstown Rd Chesapeake, VA 23322-5309
Entity Owned
Absentee Owner
~
Est. High Equity
Property ID
US87-1301890
Property summary
AI-generated overview
This exceptional commercial property, located at 311 Johnstown Road in Chesapeake, Virginia, presents a fantastic opportunity for a diverse range of businesses. Priced at $200,000, this property offers versatile office space previously occupied by an optometrist's practice for many years. The interior is currently well-appointed and ready for immediate occupancy. The building enjoys a highly desirable location with over 15,000 vehicles passing by daily, ensuring excellent visibility and accessibility for your business. Strategic placement between an established insurance firm and a retail business provides a strong commercial synergy. This makes it an excellent choice for both start-up companies seeking a prime location and established businesses looking to expand their operations. The property's suitability extends beyond traditional office spaces
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1972
Total area
1,120 SF
Lot
0.07 ac (3,093 SF)
Zoning code
B1: NEIGHBORHOOD BUSINESS
APN
481012000001
UPID
US87-1301890
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
-
Farmers Insurance - Theresa Woolard Insurance Agency
-
Albert Dean Bohon Physician
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
Muddy Buddy LLC
Muddy Buddy LLC
since 2026
Last sale
$200,000
3 recorded transactions
Zoning & alternative use
B1: NEIGHBORHOOD BUSINESS · Chesapeake, 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 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
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 2019Property tax & assessments
Tax year 2019
Tax billed
$1,305
Tax year 2019
Assessed value
$147,700
Assessed 2024
Previous assessed
$147,700
+0.0% YoY
Effective rate
0.88%
On assessed value
Assessed land
$53,300
Assessed improvement
$94,400
Land market value
$53,300
Improvement market value
$94,400
Total market value
$147,700
Applied tax rate
23.0000
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1972
Heating
PACKAGE
Cooling
AC.PACKAGE
Stories
1
Units
1
Total area
1,120 SF
Lot
0.07 ac (3,093 SF)
Zoning code
B1: NEIGHBORHOOD BUSINESS
APN
481012000001
UPID
US87-1301890
Jurisdiction
CHESAPEAKE CITY
Zoning & alternative use
B1: NEIGHBORHOOD BUSINESS · Chesapeake, VA
Zoning B1: NEIGHBORHOOD BUSINESS · permitted uses
B1: NEIGHBORHOOD BUSINESS · 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.
Building & site characteristics
From public records
Year built
1972
Heating
PACKAGE
Cooling
Yes
Stories
1
Units
1
Lot
0.07 ac
Current owner
From public records · entity-resolved
Muddy Buddy LLC
Entity
Mailing address
612 SAINT BRIDES RD W, CHESAPEAKE, VA 23322-2315
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2026
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 7, 2026
—
Muddy Buddy LLC
Muddy Buddy 2 LLC
Deed
related
$155,000 · Dollar Bank Fsb
Mar 28, 2025
$200,000
Muddy Buddy 2 LLC
Albert Dean Bohon JR
Warranty Deed
$150,000 · The Old Point National Bank Of Phoe
Apr 27, 2020
—
Albert Dean Bohon JR
Albert D Bohon JR
Intrafamily Transfer
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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