New search
Property profile & analytics
OFF-MARKET
Estimated value
$17,010,000
Automotive properties
3420 Military Hwy Norfolk, VA 23518-5611
Entity Owned
3-yr Hold
Free & Clear
Property ID
US87-3370024
Property profile
Verified
Property type
Automotive properties
Use group
VEHICLE SALES, RENTALS
Year built
2019
Total area
9,970 SF
Lot
5.71 ac (248,597 SF)
APN
21980651
UPID
US87-3370024
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
-
Ford Service Auto Repair Shop
-
Priority Quick Lane Tire & Auto Center Auto Repair Shop
-
Priority Ford Collision Auto Repair Shop
-
Priority Ford Car Dealership Auto Repair Shop
-
Quick Lane at Priority Ford Auto Repair Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$11.08M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$17.01M
Owner & transaction history
Lithia Va Real Estate LLC · 3 yrs held
Lithia Va Real Estate LLC
since 2023
Last sale
$17.0M
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
Method
Estimation
Statistic approach
$22,960,000
ML approach
$11,075,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$17.01M
Range $15.31M – $18.71M · ±10% · vs last sale $17.00M (Jun 15 2023)
Last sale anchor
$17.00M
Jun 15 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
$1,706 / 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
$110,339
Tax year 2024
Assessed value
$8,827,100
Assessed 2024
Previous assessed
$8,452,900
+4.4% YoY
Effective rate
1.25%
On assessed value
Assessed land
$2,983,500
Assessed improvement
$5,843,600
Land market value
$2,983,500
Improvement market value
$5,843,600
Total market value
$8,827,100
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
Automotive properties
Use group
VEHICLE SALES, RENTALS
Status
Off-Market
Year built
2019
Heating
SPACE
Cooling
YES
Buildings
3
Stories
1
Total area
9,970 SF
Lot
5.71 ac (248,597 SF)
APN
21980651
UPID
US87-3370024
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
2019
Heating
SPACE
Cooling
Yes
Stories
1
Buildings
3
Lot
5.71 ac
Current owner
From public records · entity-resolved
Lithia Va Real Estate LLC
Entity
Free & Clear · 3 yrs held
Mailing address
150 N BARTLETT ST, MEDFORD, OR 97501-6032
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
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 15, 2023
$17,000,000
Lithia Va Real Estate LLC
Ellmer Properties Norfolk LLC
Special Warranty Deed
—
Jan 31, 2019
$3,200
Ellmer Properties Norfolk LLC
Military Highway Property 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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 3420 Military Hwy?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
