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Property profile & analytics
FOR SALE
Showrooms
3111 E Virginia Beach Blvd Norfolk, VA 23504
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US87-3369981
For Sale
1 / 3
Contact for pricing
3111 E Virginia Beach Blvd, Norfolk, VA 23504
View Listing →
Property profile
Verified
Property type
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Year built
1948
Total area
15,070 SF
Lot
1.04 ac (45,433 SF)
Zoning code
I-3
APN
44802005
UPID
US87-3369981
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
-
CarMatic Transmission Auto Repair Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.05M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.41M
Blend (final)
Blend
$1.08M
Owner & transaction history
Abbitt Holdings LLC · 3 yrs held
Abbitt Holdings LLC
since 2023
Last sale
$800,000
3 recorded transactions
Zoning & alternative use
I-3 · Norfolk, VA
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
$1,080,000
ML approach
$1,045,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$1,640,000
Change: -6% · Conversion: Difficult
Blend value · Realmo final
$1.08M
Range $972k – $1.19M · ±10% · vs last sale $800k (Jun 5 2023)
Last sale anchor
$800k
Jun 5 2023
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
$72 / 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
$9,640
Tax year 2024
Assessed value
$771,200
Assessed 2024
Previous assessed
$536,100
+43.9% YoY
Effective rate
1.25%
On assessed value
Assessed land
$272,500
Assessed improvement
$498,700
Land market value
$272,500
Improvement market value
$498,700
Total market value
$771,200
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
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Status
For Sale
Year built
1948
Heating
SPACE
Buildings
2
Stories
1
Total area
15,070 SF
Lot
1.04 ac (45,433 SF)
Zoning code
I-3
APN
44802005
UPID
US87-3369981
Jurisdiction
NORFOLK CITY
Zoning & alternative use
I-3 · Norfolk, VAZoning 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
Source
Adopted Zoning Ordinance
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE
Est. value
$1.6M
WAREHOUSE, STORAGE
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
1948
Heating
SPACE
Stories
1
Buildings
2
Lot
1.04 ac
Current owner
From public records · entity-resolved
Abbitt Holdings LLC
Entity
Mailing address
841 JUNIPER CRES STE #104, CHESAPEAKE, VA 23320-2634
Ownership since
2023
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
Jun 5, 2023
$800,000
Abbitt Holdings LLC
David L Roeschenthaler
Warranty Deed
$700,000 · Party III
Sep 2, 2020
$250,000
David I Roeschenthaler
Janet W Moore
Warranty Deed
—
Jun 4, 2008
—
Janet W Moore
Edmund A Wrenn
Gift Deed
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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