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Property profile & analytics
OFF-MARKET
Estimated value
$7,200,000
Grocery and convenience stores
3350 Princess Anne Rd Norfolk, VA 23502-1564
Trust Owned
12-yr Hold
Free & Clear
Property ID
US87-3346602
Property profile
Verified
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Year built
2014
Total area
41,899 SF
Lot
4.62 ac (201,291 SF)
APN
50000361
UPID
US87-3346602
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
-
Walmart Connection Center Mobile Phone Store Electronics & Wireless Store
-
Makeyah Jones Pharmacy
-
Deysha Cochran Pharmacy
-
Walmart Home Services Social Service Agency
-
Walmart Baby & Nursery Services Social Service Agency Community Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$7.32M
Comparable Approach
Comparable
$9.25M
Blend (final)
Blend
$7.20M
Owner & transaction history
Wal-mart Real Estate Business Trust · 12 yrs held
Wal-mart Real Estate Business Trust
since 2014
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$8.3M
+19.6%
Auto repair, garage
$8.1M
+17.4%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$7,930,000
6.5%
$7,320,000
7%
$6,795,000
Alternative Use
Use
Estimation
RETAIL STORES
$6,900,000
Current use
OFFICE BUILDING
$8,250,000
Change: +20% · Conversion: Easy
AUTO REPAIR, GARAGE
$8,100,000
Change: +17% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$5,530,000
Change: -20% · Conversion: Difficult
Blend value · Realmo final
$7.20M
Range $6.48M – $7.92M · ±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
$172 / 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
$82,481
Tax year 2024
Assessed value
$6,598,500
Assessed 2024
Previous assessed
$6,380,600
+3.4% YoY
Effective rate
1.25%
On assessed value
Assessed land
$1,611,200
Assessed improvement
$4,987,300
Land market value
$1,611,200
Improvement market value
$4,987,300
Total market value
$6,598,500
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
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Status
Off-Market
Year built
2014
Heating
FORCED AIR
Cooling
YES
Stories
1
Total area
41,899 SF
Lot
4.62 ac (201,291 SF)
APN
50000361
UPID
US87-3346602
Jurisdiction
NORFOLK CITY
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$6.9M
OFFICE BUILDING
Est. value
$8.3M
AUTO REPAIR, GARAGE
Est. value
$8.1M
INDUSTRIAL (GENERAL)
Est. value
$5.5M
RETAIL STORES Current
OFFICE BUILDING
AUTO REPAIR, GARAGE
INDUSTRIAL (GENERAL)
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
2014
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
4.62 ac
Current owner
From public records · entity-resolved
Wal-mart Real Estate Business Trust
Trust
Free & Clear · 12 yrs held
Mailing address
2001 SE 10TH ST, BENTONVILLE, AR 72712-6489
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
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 10, 2014
$2,800,000
Wal-mart Real Estate Business Trust
Bdc Princess Anne Outparcel 3 LLC A
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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