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Property profile & analytics
OFF-MARKET
Warehouses
3404 Westminster Ave Norfolk, VA 23504-4619
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US87-3368124
Property summary
AI-generated overview
This 3,071 square foot warehouse in Norfolk, VA, is situated on a 12,548 square foot lot (0.29 acres) at the corner of Westminster and East End Avenues. Built in 2006, the building features 2,481 square feet of warehouse space with 15.1-foot ceilings and a garage door, plus 590 square feet of office space divided into three smaller areas and a bathroom. An additional approximately 590 square feet of mezzanine storage is a valuable amenity. The property boasts a 4.09 land-to-building ratio and is zoned Industrial-Light (I-L) by the City of Norfolk. The legal description is Parcel 3404, Block 6, Riverside Park. Asking price is $390,000 ($126.99/sq ft). This is a for sale by owner opportunity.
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
2006
Total area
3,168 SF
Lot
0.29 ac (12,550 SF)
APN
50000369
UPID
US87-3368124
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
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Sem Holdings LLC · 1 yrs held
Sem Holdings LLC
since 2025
Last sale
$365,000
2 recorded transactions
Zoning & alternative use
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 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
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 2024Property tax & assessments
Tax year 2024
Tax billed
$2,928
Tax year 2024
Assessed value
$234,200
Assessed 2024
Previous assessed
$229,500
+2.0% YoY
Effective rate
1.25%
On assessed value
Assessed land
$63,600
Assessed improvement
$170,600
Land market value
$63,600
Improvement market value
$170,600
Total market value
$234,200
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
2006
Heating
SPACE
Cooling
YES
Stories
1
Total area
3,168 SF
Lot
0.29 ac (12,550 SF)
APN
50000369
UPID
US87-3368124
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
Building & site characteristics
From public records
Year built
2006
Heating
SPACE
Cooling
Yes
Stories
1
Lot
0.29 ac
Current owner
From public records · entity-resolved
Sem Holdings LLC
Entity
Mailing address
2766 BROAD BAY RD, VIRGINIA BEACH, VA 23451-1645
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 4, 2025
$365,000
Sem Holdings LLC
Warnie E Conley
Warranty Deed
$273,750 · Townebank
Sep 11, 2018
—
Warnie E Conley
Warnie E Conley
Intrafamily Transfer
related
—
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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