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Property profile & analytics
OFF-MARKET
Estimated value
$610,000
Showrooms
3300 Azalea Gdn Rd Norfolk, VA 23513-2239
Entity Owned
5-yr Hold
Absentee Owner
Free & Clear
Property ID
US87-3387628
Property profile
Verified
Property type
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Year built
1964
Total area
11,165 SF
Lot
0.46 ac (19,977 SF)
Zoning code
C-2
APN
36555400
UPID
US87-3387628
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
-
Davis Interiors Ltd Interior Design Home Decor Store
-
Muscle Men Male Strippers & Male Strip Club Theater & Performing Art Venue Music Venue
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$720k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$976k
Blend (final)
Blend
$610k
Owner & transaction history
Rhd Securities LLC · 5 yrs held
Rhd Securities LLC
since 2021
Last sale
$500,000
3 recorded transactions
Zoning & alternative use
C-2 · Norfolk, VA
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 Norfolk submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Norfolk 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
$610,000
ML approach
$720,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$1,215,000
Change: -6% · Conversion: Difficult
Blend value · Realmo final
$610k
Range $549k – $671k · ±10% · vs last sale $500k (May 18 2021)
Last sale anchor
$500k
May 18 2021
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
$55 / 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
$7,573
Tax year 2024
Assessed value
$605,800
Assessed 2024
Previous assessed
$605,800
+0.0% YoY
Effective rate
1.25%
On assessed value
Assessed land
$121,100
Assessed improvement
$484,700
Land market value
$121,100
Improvement market value
$484,700
Total market value
$605,800
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
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Status
Off-Market
Year built
1964
Heating
SPACE
Cooling
YES
Stories
1
Total area
11,165 SF
Lot
0.46 ac (19,977 SF)
Zoning code
C-2
APN
36555400
UPID
US87-3387628
Jurisdiction
NORFOLK CITY
Zoning & alternative use
C-2 · Norfolk, VAZoning C-2 · permitted uses
C-2 · Norfolk, VA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Source
Adopted Zoning Ordinance
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE
Est. value
$1.2M
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
1964
Heating
SPACE
Cooling
Yes
Stories
1
Lot
0.46 ac
Current owner
From public records · entity-resolved
Rhd Securities LLC
Entity
Free & Clear · 5 yrs held
Mailing address
1338 CLONCURRY RD, NORFOLK, VA 23505-1712
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 25, 2026
—
Metzger Holdings LLC
—
Deed
related
$300,000 · Southern Bank & Trust Co
May 18, 2021
$500,000
Rhd Securities LLC
Bay Street Center INC
Warranty Deed
—
Jan 27, 2006
$168,500
Rexanne D Metzger
Robert E Gibson
Deed
$170,500 · Mary Davis
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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