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Property profile & analytics
OFF-MARKET
Office Spaces
3303 Airline Blvd Ste 4h Portsmouth, VA 23701-2668
Individually Owned
11-yr Hold
~
Est. High Equity
Property ID
US87-1232184
Property profile
Verified
Property type
Office Spaces
Use group
CONDOMINIUM OFFICES
Year built
2005
Total area
2,000 SF
Lot
0.04 ac (1,742 SF)
Zoning code
CONTACT ZONING STAFF
APN
0572-0670
UPID
US87-1232184
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
-
Financial Wize Mortgage Lenders Portsmouth VA Nursing Home Retirement Community
-
Obsessed Over Her Beauty Studio LLC Hair Salon Nail Salon
-
J&G Fence & Deck Co. General Contractor Construction Company
-
Forsythe, Inc General Contractor
-
Custom Closets & Interiors Interior Design Home Decor Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Justin C Lovell · 11 yrs held
Justin C Lovell
since 2014
5 recorded transactions
Zoning & alternative use
CONTACT ZONING STAFF · Portsmouth, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$2,704
Tax year 2023
Assessed value
$201,300
Assessed 2023
Previous assessed
$201,300
+0.0% YoY
Effective rate
1.34%
On assessed value
Assessed land
$48,000
Assessed improvement
$153,300
Land market value
$48,000
Improvement market value
$153,300
Total market value
$201,300
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 Spaces
Use group
CONDOMINIUM OFFICES
Status
Off-Market
Year built
2005
Heating
OTHER
Cooling
YES
Stories
1
Bathrooms
2
Total area
2,000 SF
Lot
0.04 ac (1,742 SF)
Zoning code
CONTACT ZONING STAFF
APN
0572-0670
UPID
US87-1232184
Jurisdiction
PORTSMOUTH CITY
Zoning & alternative use
CONTACT ZONING STAFF · Portsmouth, VA
Zoning CONTACT ZONING STAFF · permitted uses
CONTACT ZONING STAFF · 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.
Building & site characteristics
From public records
Year built
2005
Heating
OTHER
Cooling
Yes
Stories
1
Bathrooms
2
Lot
0.04 ac
Current owner
From public records · entity-resolved
Justin C Lovell
Individual
Mailing address
3303 AIRLINE BLVD, PORTSMOUTH, VA 23701-2665
Ownership since
2014
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 1, 2014
$176,500
Justin C Lovell
Southeastern Virginia Prop LLC
Special Warranty Deed
$141,200 · Townebank
Apr 7, 2014
$175,000
Southeastern Virginia Properti
Barclay Robert C IV
Trustees Deed
related
—
—
—
Airline Property
—
Deed Of Trust
related
$65,000 · Monarch Bank
—
—
Airline Property LLC
—
Deed Of Trust
related
$140,000 · Monarch Bank
—
—
Airline Property LLC
—
Deed Of Trust
related
$200,000 · Towne 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
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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