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Property profile & analytics
OFF-MARKET
Estimated value
$700,000
Medical Office Space
3116 Tyre Nck Rd Portsmouth, VA 23703-4512
Entity Owned
2-yr Hold
Free & Clear
Property ID
US87-0866921
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1960
Construction
BRICK
Total area
3,562 SF
Lot
0.79 ac (34,369 SF)
Zoning code
GMU
APN
0815-0090
UPID
US87-0866921
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
-
Drs Jett & Sellers Dental Office
-
LaRusso Mark a DDS Dental Office
-
Dr. Vernon A. Sellers, DMD Dental Office
-
Dr. Ned D. Taylor, DMD Dental Office
-
Szal Richard L DDS Dental Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$700k
CAP Approach
CAP
$935k
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$700k
Owner & transaction history
Leathel Holding Corp · 2 yrs held
Leathel Holding Corp
since 2024
Last sale
$700,000
2 recorded transactions
Zoning & alternative use
GMU · Portsmouth, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$490,000
+12.7%
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
$700,000
ML approach
$700,000
CAP Approach
CAP Return
Estimation
6%
$1,015,000
6.5%
$935,000
7%
$870,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$435,000
Current use
OFFICE BUILDING
$490,000
Change: +13% · Conversion: Easy
RETAIL STORES
$425,000
Change: -2% · Conversion: Difficult
Blend value · Realmo final
$700k
Range $630k – $770k · ±10% · vs last sale $700k (May 16 2024)
Last sale anchor
$700k
May 16 2024
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
$197 / 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
$5,272
Tax year 2023
Assessed value
$373,833
Assessed 2023
Previous assessed
$373,833
+0.0% YoY
Effective rate
1.41%
On assessed value
Assessed land
$136,930
Assessed improvement
$236,903
Land market value
$136,930
Improvement market value
$236,903
Total market value
$373,833
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1960
Construction
BRICK
Heating
CENTRAL
Cooling
YES
Stories
2
Bathrooms
5
Total area
3,562 SF
Lot
0.79 ac (34,369 SF)
Zoning code
GMU
APN
0815-0090
UPID
US87-0866921
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
MEDICAL BUILDING Current
Est. value
$435,000
OFFICE BUILDING
Est. value
$490,000
RETAIL STORES
Est. value
$425,000
MEDICAL BUILDING Current
OFFICE BUILDING
RETAIL STORES
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
1960
Construction
BRICK
Heating
CENTRAL
Cooling
Yes
Stories
2
Bathrooms
5
Lot
0.79 ac
Current owner
From public records · entity-resolved
Leathel Holding Corp
Entity
Free & Clear · 2 yrs held
Mailing address
1420 KING ST, PORTSMOUTH, VA 23704-3232
Ownership since
2024
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
Jul 23, 2025
—
Pyramid Investment Group INC
—
Deed
related
$150,000 · Elizabeth Building And Loan Association
May 16, 2024
$700,000
Leathel Holding Corp
Taylor Dodson
Warranty 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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