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Property profile & analytics
FOR SALE
Office buildings
3400 Airline Blvd Portsmouth, VA 23701
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US87-1356665
For Sale
1 / 2
$639,000
3400 Airline Blvd, Portsmouth, VA 23701
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1970
Construction
BRICK
Total area
3,648 SF
Lot
0.77 ac (33,672 SF)
Zoning code
GMU
APN
0584-0410
UPID
US87-1356665
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
-
Care Advantage, Inc. Home Health Care Service
-
Pro Handyman Services Inc Hardware & Home Improvement General Contractor
-
East Coast Water Quality Inc. General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$455k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$750k
Blend (final)
Blend
$560k
Owner & transaction history
Shs Properties Portsmouth LLC · 3 yrs held
Shs Properties Portsmouth LLC
since 2023
Last sale
$580,000
6 recorded transactions
Zoning & alternative use
GMU · 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
Method
Estimation
Statistic approach
$450,000
ML approach
$455,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$505,000
Current use
MEDICAL BUILDING
$445,000
Change: -11% · Conversion: Easy
RETAIL STORES
$440,000
Change: -13% · Conversion: Moderate
Blend value · Realmo final
$560k
Range $504k – $616k · ±10% · vs last sale $580k (May 16 2023)
Last sale anchor
$580k
May 16 2023
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
$154 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$9,798
Tax year 2023
Assessed value
$580,000
Assessed 2023
Previous assessed
$580,000
+0.0% YoY
Effective rate
1.69%
On assessed value
Assessed land
$245,900
Assessed improvement
$334,100
Land market value
$245,900
Improvement market value
$334,100
Total market value
$580,000
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 buildings
Use group
OFFICE BUILDING
Status
For Sale
Year built
1970
Construction
BRICK
Heating
CENTRAL
Cooling
YES
Stories
1
Bathrooms
2
Total area
3,648 SF
Lot
0.77 ac (33,672 SF)
Zoning code
GMU
APN
0584-0410
UPID
US87-1356665
Jurisdiction
PORTSMOUTH CITY
Zoning & alternative use
GMU · Portsmouth, VA
Zoning GMU · permitted uses
GMU · 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.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$505,000
MEDICAL BUILDING
Est. value
$445,000
RETAIL STORES
Est. value
$440,000
OFFICE BUILDING Current
MEDICAL BUILDING
RETAIL STORES
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
1970
Construction
BRICK
Heating
CENTRAL
Cooling
Yes
Stories
1
Bathrooms
2
Lot
0.77 ac
Current owner
From public records · entity-resolved
Shs Properties Portsmouth LLC
Entity
Mailing address
128 STARWOOD DR, PITTSBORO, NC 27312-0709
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 16, 2023
$580,000
Shs Properties Portsmouth LLC
Huneycutt Properties LLC
Warranty Deed
$435,000 · First Citizens Bank & Trust Company
Nov 18, 2021
$510,000
Huneycutt Properties LLC
Ilapit LLC
Warranty Deed
$399,500 · First Citizens Bank & Trust Company
Jul 28, 2017
—
Tbvat LLC
—
Deed
related
$442,000 · Towne Bk
Nov 29, 2007
$400,000
Ilapit LLC
White,wayne R & Frances B
Grant Deed
$630,000 · Towne Bank
—
—
Ilapit LLC
—
Loan Modification
related
$350,000 · Towne Bank
—
—
Tbvat LLC
—
Loan Modification
related
$442,000 · Towne Bk
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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