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Property profile & analytics
OFF-MARKET
Estimated value
$1,075,000
Warehouses
3219 Channel Ave Portsmouth, VA 23703-2415
Entity Owned
Absentee Owner
Free & Clear
Property ID
US87-0689318
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1962
Total area
11,052 SF
Lot
1.88 ac (81,893 SF)
Zoning code
IN
APN
0702-0330
UPID
US87-0689318
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
by Request
CAP Approach
CAP
$1.26M
Comparable Approach
Comparable
$1.15M
Blend (final)
Blend
$1.08M
Owner & transaction history
MAGANN W F CORPORATION
MAGANN W F CORPORATION
Zoning & alternative use
IN · Portsmouth, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$1.5M
+52.0%
Medical building
$1.4M
+34.9%
Retail stores
$1.3M
+32.3%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$1,360,000
6.5%
$1,255,000
7%
$1,165,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$1,000,000
Current use
OFFICE BUILDING
$1,525,000
Change: +52% · Conversion: Difficult
MEDICAL BUILDING
$1,350,000
Change: +35% · Conversion: Difficult
RETAIL STORES
$1,325,000
Change: +32% · Conversion: Moderate
APARTMENT HOUSE (5+ UNITS)
$1,045,000
Change: +4% · Conversion: Difficult
Blend value · Realmo final
$1.08M
Range $968k – $1.18M · ±10%
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
$97 / 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
$13,293
Tax year 2023
Assessed value
$728,290
Assessed 2023
Previous assessed
$728,290
+0.0% YoY
Effective rate
1.83%
On assessed value
Assessed land
$251,200
Assessed improvement
$477,090
Land market value
$251,200
Improvement market value
$477,090
Total market value
$728,290
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1962
Heating
CENTRAL
Cooling
YES
Stories
1
Bathrooms
4
Total area
11,052 SF
Lot
1.88 ac (81,893 SF)
Zoning code
IN
APN
0702-0330
UPID
US87-0689318
Jurisdiction
PORTSMOUTH CITY
Zoning & alternative use
IN · Portsmouth, VA
Zoning IN · permitted uses
IN · 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
WAREHOUSE, STORAGE Current
Est. value
$1.0M
OFFICE BUILDING
Est. value
$1.5M
MEDICAL BUILDING
Est. value
$1.4M
RETAIL STORES
Est. value
$1.3M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.0M
WAREHOUSE, STORAGE Current
OFFICE BUILDING
MEDICAL BUILDING
RETAIL STORES
APARTMENT HOUSE (5+ UNITS)
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
1962
Heating
CENTRAL
Cooling
Yes
Stories
1
Bathrooms
4
Lot
1.88 ac
Current owner
From public records · entity-resolved
MAGANN W F CORPORATION
Individual
Free & Clear · 0 yrs held
Mailing address
3220 MARINER AVE, PORTSMOUTH, VA 23703-2420
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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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