New search
Property profile & analytics
FOR SALE
Office buildings
3204 Churchland Blvd Chesapeake, VA 23321
Entity Owned
6-yr Hold
~
Est. High Equity
Property ID
US87-0839098
For Sale
1 / 10
$1,040,000
3204 Churchland Blvd, Chesapeake, VA 23321
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1995
Total area
4,840 SF
Lot
1.24 ac (54,189 SF)
Zoning code
O-I: OFFICE & INSTITUTION
APN
50000001030
UPID
US87-0839098
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
-
PG Harris Construction Company General Contractor
-
P G Harris Construction Co Construction Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$485k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$489k
Blend (final)
Blend
$560k
Owner & transaction history
Summerb LLC · 6 yrs held
Summerb LLC
since 2020
Last sale
$626,840
1 recorded transaction
Zoning & alternative use
O-I: OFFICE & INSTITUTION · Chesapeake, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$905,000
+33.4%
Commercial (general)
$790,000
+16.0%
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
$565,000
ML approach
$485,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$680,000
Current use
RETAIL STORES
$905,000
Change: +33% · Conversion: Moderate
COMMERCIAL (GENERAL)
$790,000
Change: +16% · Conversion: Easy
WAREHOUSE, STORAGE
$650,000
Change: -4% · Conversion: Difficult
Blend value · Realmo final
$560k
Range $504k – $616k · ±10% · vs last sale $627k (Jul 7 2020)
Last sale anchor
$627k
Jul 7 2020
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
$116 / 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
$7,782
Tax year 2019
Assessed value
$610,000
Assessed 2023
Previous assessed
$637,700
-4.3% YoY
Effective rate
1.28%
On assessed value
Assessed land
$330,400
Assessed improvement
$279,600
Land market value
$330,400
Improvement market value
$279,600
Total market value
$610,000
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
For Sale
Year built
1995
Heating
HEAT PUMP
Stories
1
Units
1
Total area
4,840 SF
Lot
1.24 ac (54,189 SF)
Zoning code
O-I: OFFICE & INSTITUTION
APN
50000001030
UPID
US87-0839098
Jurisdiction
CHESAPEAKE CITY
Zoning & alternative use
O-I: OFFICE & INSTITUTION · Chesapeake, VA
Zoning O-I: OFFICE & INSTITUTION · permitted uses
O-I: OFFICE & INSTITUTION · 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
$680,000
RETAIL STORES
Est. value
$905,000
COMMERCIAL (GENERAL)
Est. value
$790,000
WAREHOUSE, STORAGE
Est. value
$650,000
OFFICE BUILDING Current
RETAIL STORES
COMMERCIAL (GENERAL)
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
1995
Heating
HEAT PUMP
Stories
1
Units
1
Lot
1.24 ac
Current owner
From public records · entity-resolved
Summerb LLC
Entity
Mailing address
PO BOX 16269, CHESAPEAKE, VA 23328-6269
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 7, 2020
$626,840
Summerb LLC
Mid-atlantic Ira LLC
Warranty Deed
$715,271 · Truist 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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
