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Property profile & analytics
OFF-MARKET
Estimated value
$1,330,000
Office buildings
3132 Lynnhurst Blvd Chesapeake, VA 23321-4444
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US87-1021171
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2004
Total area
5,684 SF
Lot
2.5 ac (108,726 SF)
Zoning code
B1: NEIGHBORHOOD BUSINESS
APN
90000001310
UPID
US87-1021171
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.26M
CAP Approach
CAP
$1.43M
Comparable Approach
Comparable
$1.10M
Blend (final)
Blend
$1.33M
Owner & transaction history
Fdi Postal Properties II INC · 4 yrs held
Fdi Postal Properties II INC
since 2022
Last sale
$1.6M
6 recorded transactions
Zoning & alternative use
B1: NEIGHBORHOOD BUSINESS · Chesapeake, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$2.1M
+162.3%
Auto repair, garage
$1.5M
+83.6%
Retail stores
$1.1M
+33.4%
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
Method
Estimation
Statistic approach
$1,350,000
ML approach
$1,260,000
CAP Approach
CAP Return
Estimation
6%
$1,545,000
6.5%
$1,425,000
7%
$1,325,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$800,000
Current use
RESTAURANT
$2,095,000
Change: +162% · Conversion: Moderate
AUTO REPAIR, GARAGE
$1,465,000
Change: +84% · Conversion: Difficult
RETAIL STORES
$1,065,000
Change: +33% · Conversion: Moderate
COMMERCIAL (GENERAL)
$925,000
Change: +16% · Conversion: Easy
Blend value · Realmo final
$1.33M
Range $1.20M – $1.46M · ±10% · vs last sale $1.63M (Mar 31 2022)
Last sale anchor
$1.63M
Mar 31 2022
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
$234 / 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 2019Property tax & assessments
Tax year 2019
Tax billed
$12,299
Tax year 2019
Assessed value
$1,625,900
Assessed 2023
Previous assessed
$1,438,000
+13.1% YoY
Effective rate
0.76%
On assessed value
Assessed land
$624,000
Assessed improvement
$1,001,900
Land market value
$624,000
Improvement market value
$1,001,900
Total market value
$1,625,900
Applied tax rate
52.0000
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
2004
Heating
HEAT PUMP
Stories
1
Units
1
Total area
5,684 SF
Lot
2.5 ac (108,726 SF)
Zoning code
B1: NEIGHBORHOOD BUSINESS
APN
90000001310
UPID
US87-1021171
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.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$800,000
RESTAURANT
Est. value
$2.1M
AUTO REPAIR, GARAGE
Est. value
$1.5M
RETAIL STORES
Est. value
$1.1M
COMMERCIAL (GENERAL)
Est. value
$925,000
OFFICE BUILDING Current
RESTAURANT
AUTO REPAIR, GARAGE
RETAIL STORES
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
2004
Heating
HEAT PUMP
Stories
1
Units
1
Lot
2.5 ac
Current owner
From public records · entity-resolved
Fdi Postal Properties II INC
Entity
Mailing address
PO BOX 659, MOUNT AIRY, MD 21771-0659
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 5, 2022
—
Fdi Postal Properties II INC
—
Deed
related
$900,000 · Orrstown Bank
Mar 31, 2022
$1,625,000
Fdi Postal Properties II INC
Norfolk Vet Center LLC
Special Warranty Deed
$900,000 · Frall Developers INC
Dec 21, 2020
—
Norfolk Vet Center LLC
—
Deed
related
$350,000 · Ja Impact Investments LLC
Nov 12, 2020
$1,325,000
Norfolk Vet Center LLC
Norfolk Vet LLC
Special Warranty Deed
$993,750 · Atlanta Postal Cu
Jun 2, 2020
—
Norfolk Vet LLC
—
Deed
related
$750,000 · Abnb Federal Credit Union
Jul 9, 2019
$850,000
Norfolk Vet LLC
Hcm-real Estate LLC
Warranty Deed
$775,000 · Hcm-real Estate LLC
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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