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Property profile & analytics
OFF-MARKET
Estimated value
$520,000
Restaurants
3114 Tyre Nck Rd Portsmouth, VA 23703-4512
Entity Owned
2-yr Hold
Free & Clear
Property ID
US87-0951253
Property profile
Verified
Property type
Restaurants
Use group
BAKERY
Year built
1973
Total area
6,000 SF
Lot
0.79 ac (34,412 SF)
Zoning code
GMU
APN
0815-0091
UPID
US87-0951253
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
-
New Genesis Worship Center Church
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$420k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$654k
Blend (final)
Blend
$520k
Owner & transaction history
Corey Wilson Homes LLC · 2 yrs held
Corey Wilson Homes LLC
since 2023
Last sale
$550,000
5 recorded transactions
Zoning & alternative use
GMU · Portsmouth, 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 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
$425,000
ML approach
$420,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$835,000
Current use
MEDICAL BUILDING
$720,000
Change: -14% · Conversion: Difficult
OFFICE BUILDING
$705,000
Change: -16% · Conversion: Moderate
Blend value · Realmo final
$520k
Range $468k – $572k · ±10% · vs last sale $550k (Nov 6 2023)
Last sale anchor
$550k
Nov 6 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
$87 / 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
$8,001
Tax year 2023
Assessed value
$640,060
Assessed 2023
Previous assessed
$640,060
+0.0% YoY
Effective rate
1.25%
On assessed value
Assessed land
$262,090
Assessed improvement
$377,970
Land market value
$262,090
Improvement market value
$377,970
Total market value
$640,060
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
Restaurants
Use group
BAKERY
Status
Off-Market
Year built
1973
Heating
CENTRAL
Cooling
YES
Stories
1
Bathrooms
3
Total area
6,000 SF
Lot
0.79 ac (34,412 SF)
Zoning code
GMU
APN
0815-0091
UPID
US87-0951253
Jurisdiction
PORTSMOUTH CITY
Zoning & alternative use
GMU · Portsmouth, VA
Zoning GMU · permitted uses
GMU · 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
RESTAURANT Current
Est. value
$835,000
MEDICAL BUILDING
Est. value
$720,000
OFFICE BUILDING
Est. value
$705,000
RESTAURANT Current
MEDICAL BUILDING
OFFICE BUILDING
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
1973
Heating
CENTRAL
Cooling
Yes
Stories
1
Bathrooms
3
Lot
0.79 ac
Current owner
From public records · entity-resolved
Corey Wilson Homes LLC
Entity
Free & Clear · 2 yrs held
Mailing address
4113 FABER RD, PORTSMOUTH, VA 23703-4834
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
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 18, 2024
—
Corey Wilson Homes LLC
—
Deed
related
$200,000 · Townebank
Nov 6, 2023
$550,000
Corey Wilson Homes LLC
Churchland Glass And Mirror INC
Warranty Deed
—
—
—
Churchland Glass & Mirror INC
—
Deed Of Trust
related
$285,000 · Towne Bank
—
—
Churchland Glass & Mirror INC
—
Deed Of Trust
related
$90,000 · Suffolk First Bank
—
—
Churchland Glass & Mirror LLC
—
Loan Modification
related
$125,000 · Suffolk First Bank
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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