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Property profile & analytics
OFF-MARKET
Estimated value
$10,485,000
Automotive properties
3228 Norfolk Rd Portsmouth, VA 23703-2432
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US87-1354975
Property profile
Verified
Property type
Automotive properties
Use group
VEHICLE SALES, RENTALS
Year built
1950
Total area
5,500 SF
Lot
2.76 ac (120,226 SF)
Zoning code
IN
APN
0700-0012
UPID
US87-1354975
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
-
Virginia Tire and Truck Repair llc Auto Repair Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$7.95M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$10.49M
Owner & transaction history
3340 W Norfolk Road Industrial LLC · 4 yrs held
3340 W Norfolk Road Industrial LLC
since 2022
Last sale
$12.5M
4 recorded transactions
Zoning & alternative use
IN · Portsmouth, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
Opens in a new window Search... Use up/down arrow keys to navigate suggestions, Enter to select, Esc to close. Zoning Ordinance Zoning Permits Zoning Sign Permits Zoning Verification Requests Home Government Departments and Offices Planning Department Zoning Zoning Ordinance Zoning Ordinance The Zoning Ordinance can also be accessed online. Regulations
Zone name
Industrial
General category
INDUSTRIAL
Zone area
1,909.07 ac
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
$9,000,000
ML approach
$7,945,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$10.49M
Range $9.44M – $11.53M · ±10% · vs last sale $12.50M (Apr 18 2022)
Last sale anchor
$12.50M
Apr 18 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
$1,906 / 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 2024Property tax & assessments
Tax year 2024
Tax billed
$7,982
Tax year 2024
Assessed value
$648,960
Assessed 2024
Previous assessed
$513,360
+26.4% YoY
Effective rate
1.23%
On assessed value
Assessed land
$552,000
Assessed improvement
$96,960
Land market value
$552,000
Improvement market value
$96,960
Total market value
$648,960
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
Automotive properties
Use group
VEHICLE SALES, RENTALS
Status
Off-Market
Year built
1950
Heating
FORCED AIR
Cooling
YES
Stories
1
Units
1
Total area
5,500 SF
Lot
2.76 ac (120,226 SF)
Zoning code
IN
APN
0700-0012
UPID
US87-1354975
Jurisdiction
PORTSMOUTH CITY
Zoning & alternative use
IN · Portsmouth, VAZoning IN · permitted uses
IN · Portsmouth, VA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
Opens in a new window Search... Use up/down arrow keys to navigate suggestions, Enter to select, Esc to close. Zoning Ordinance Zoning Permits Zoning Sign Permits Zoning Verification Requests Home Government Departments and Offices Planning Department Zoning Zoning Ordinance Zoning Ordinance The Zoning Ordinance can also be accessed online. Regulations
Zone name
Industrial
General category
INDUSTRIAL
Zone area
1,909.07 ac
Building & site characteristics
From public records
Year built
1950
Heating
FORCED AIR
Cooling
Yes
Stories
1
Units
1
Lot
2.76 ac
Current owner
From public records · entity-resolved
3340 W Norfolk Road Industrial LLC
Entity
Mailing address
2818 STEINWAY ST, ASTORIA, NY 11103-3349
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 22, 2025
—
3340 W Norfolk Road Industrial LLC
—
Deed
related
$7,540,000 · Axos Bank
Feb 16, 2023
—
3340 W Norfolk Road Industrial LLC
—
Deed
related
$8,060,000 · New York Community Bank
Apr 18, 2022
$12,500,000
3340 W Norfolk Road Industrial LLC
Thomas Industrial LLC
Special Warranty Deed
$9,272,747 · Cp Pl Holding LLC
Aug 24, 2021
—
Thomas Industrial LLC
Ruth Industrial LLC
Special 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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