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Property profile & analytics
OFF-MARKET
Estimated value
$3,225,000
Manufacturing properties
3419 Trant Ave Norfolk, VA 23502
Entity Owned
16-yr Hold
Absentee Owner
Free & Clear
Property ID
US87-3360409
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
1969
Total area
23,688 SF
Lot
16.76 ac (730,196 SF)
Zoning code
I-3
APN
41105500
UPID
US87-3360409
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
$2.39M
Comparable Approach
Comparable
$4.45M
Blend (final)
Blend
$3.23M
Owner & transaction history
The Lane Construction Company · 16 yrs held
The Lane Construction Company
since 2009
1 recorded transaction
Zoning & alternative use
I-3 · Norfolk, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$4.7M
+49.2%
Auto repair, garage
$4.6M
+46.4%
Retail stores
$3.9M
+24.7%
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%
$2,585,000
6.5%
$2,390,000
7%
$2,215,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$3,130,000
Current use
OFFICE BUILDING
$4,665,000
Change: +49% · Conversion: Difficult
AUTO REPAIR, GARAGE
$4,580,000
Change: +46% · Conversion: Easy
RETAIL STORES
$3,900,000
Change: +25% · Conversion: Moderate
WAREHOUSE, STORAGE
$2,580,000
Change: -18% · Conversion: Easy
COMMERCIAL (GENERAL)
$2,525,000
Change: -19% · Conversion: Difficult
Blend value · Realmo final
$3.23M
Range $2.90M – $3.55M · ±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
$136 / 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
$52,368
Tax year 2024
Assessed value
$4,189,400
Assessed 2024
Previous assessed
$4,154,700
+0.8% YoY
Effective rate
1.25%
On assessed value
Assessed land
$2,555,800
Assessed improvement
$1,633,600
Land market value
$2,555,800
Improvement market value
$1,633,600
Total market value
$4,189,400
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
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Status
Off-Market
Year built
1969
Heating
NONE
Buildings
3
Stories
1
Total area
23,688 SF
Lot
16.76 ac (730,196 SF)
Zoning code
I-3
APN
41105500
UPID
US87-3360409
Jurisdiction
NORFOLK CITY
Zoning & alternative use
I-3 · Norfolk, VA
Zoning I-3 · permitted uses
I-3 · Norfolk, VA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Norfolk. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$3.1M
OFFICE BUILDING
Est. value
$4.7M
AUTO REPAIR, GARAGE
Est. value
$4.6M
RETAIL STORES
Est. value
$3.9M
WAREHOUSE, STORAGE
Est. value
$2.6M
COMMERCIAL (GENERAL)
Est. value
$2.5M
INDUSTRIAL (GENERAL) Current
OFFICE BUILDING
AUTO REPAIR, GARAGE
RETAIL STORES
WAREHOUSE, STORAGE
COMMERCIAL (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
1969
Heating
NONE
Stories
1
Buildings
3
Lot
16.76 ac
Current owner
From public records · entity-resolved
The Lane Construction Company
Entity
Free & Clear · 16 yrs held
Mailing address
2911 N GRAHAM ST, CHARLOTTE, NC 28206-3535
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2009
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
Aug 28, 2009
$4,500,000
The Lane Construction Company
Jlr Associates LLC
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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