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Property profile & analytics
FOR SALE
Banks
3351 Princess Anne Rd Norfolk, VA 23502-1502
Individually Owned
2-yr Hold
Free & Clear
Property ID
US87-3363775
No photos on file
For Sale
Contact for pricing
3351 Princess Anne Rd, Norfolk, VA 23502-1502
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Property profile
Verified
Property type
Banks
Use group
FINANCIAL BUILDING
Year built
1990
Total area
3,107 SF
Lot
1.63 ac (71,003 SF)
Zoning code
BC-2
APN
60083810
UPID
US87-3363775
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
$625k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$625k
Owner & transaction history
Larry C Martin · 2 yrs held
Larry C Martin
since 2024
Last sale
$625,500
3 recorded transactions
Zoning & alternative use
BC-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
$625,000
ML approach
$625,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$625k
Range $563k – $688k · ±10% · vs last sale $626k (Jun 14 2024)
Last sale anchor
$626k
Jun 14 2024
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
$201 / 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
$10,680
Tax year 2024
Assessed value
$854,400
Assessed 2024
Previous assessed
$854,400
+0.0% YoY
Effective rate
1.25%
On assessed value
Assessed land
$639,000
Assessed improvement
$215,400
Land market value
$639,000
Improvement market value
$215,400
Total market value
$854,400
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
Banks
Use group
FINANCIAL BUILDING
Status
For Sale
Year built
1990
Heating
FORCED AIR
Cooling
YES
Stories
1
Total area
3,107 SF
Lot
1.63 ac (71,003 SF)
Zoning code
BC-2
APN
60083810
UPID
US87-3363775
Jurisdiction
NORFOLK CITY
Zoning & alternative use
BC-2 · Norfolk, VAZoning BC-2 · permitted uses
BC-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
Building & site characteristics
From public records
Year built
1990
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
1.63 ac
Current owner
From public records · entity-resolved
Larry C Martin
Individual
Free & Clear · 2 yrs held
Mailing address
201 BROAD ST STE #200, ROME, GA 30161-3055
Ownership since
2024
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
Jun 14, 2024
$625,500
Larry C Martin
Vereit Real Estate LP
Special Warranty Deed
—
Apr 29, 2013
$1,189,902
Arc Sbnfkva 001 LLC
Inland American St Portfolio II LLC
Deed
—
Jan 9, 2008
$1,110,972
Inland American St Portfolio II LLC
Suntrust Bank
Special Warranty Deed
$36,651,173 · Parkway Bank & Trust Co
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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