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Property profile & analytics
OFF-MARKET
Estimated value
$2,220,000
Motels
347 Effingham St Portsmouth, VA 23704-2337
Entity Owned
Absentee Owner
~
Est. High Equity
Property ID
US87-1301586
Property profile
Verified
Property type
Motels
Use group
MOTEL
Year built
1998
Construction
LIGHT FRAME
Total area
33,130 SF
Lot
1.09 ac (47,655 SF)
Zoning code
T4
APN
0220-0020
UPID
US87-1301586
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
-
Quality Inn & Suites Olde Town Hotel & Motel
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.22M
Owner & transaction history
347 Effingham LLC
347 Effingham LLC
since 2025
1 recorded transaction
Zoning & alternative use
T4 · 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$3,490,000
Change: 0% · Conversion: Difficult
AUTO REPAIR, GARAGE
$2,785,000
Change: 0% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$2,145,000
Change: 0% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,980,000
Change: 0% · Conversion: Difficult
Blend value · Realmo final
$2.22M
Range $2.00M – $2.44M · ±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
$67 / 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
$45,623
Tax year 2023
Assessed value
$3,381,720
Assessed 2023
Previous assessed
$3,381,720
+0.0% YoY
Effective rate
1.35%
On assessed value
Assessed land
$330,990
Assessed improvement
$3,050,730
Land market value
$330,990
Improvement market value
$3,050,730
Total market value
$3,381,720
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
Motels
Use group
MOTEL
Status
Off-Market
Year built
1998
Construction
LIGHT FRAME
Heating
CENTRAL
Cooling
YES
Stories
3
Units
62
Bathrooms
64
Total area
33,130 SF
Lot
1.09 ac (47,655 SF)
Zoning code
T4
APN
0220-0020
UPID
US87-1301586
Jurisdiction
PORTSMOUTH CITY
Zoning & alternative use
T4 · Portsmouth, VA
Zoning T4 · permitted uses
T4 · 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
Est. value
$3.5M
AUTO REPAIR, GARAGE
Est. value
$2.8M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.1M
COMMERCIAL (GENERAL)
Est. value
$2.0M
OFFICE BUILDING
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
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
1998
Construction
LIGHT FRAME
Heating
CENTRAL
Cooling
Yes
Stories
3
Units
62
Bathrooms
64
Lot
1.09 ac
Current owner
From public records · entity-resolved
347 Effingham LLC
Entity
Mailing address
100 CENTURY PKWY, MOUNT LAUREL, NJ 08054-1149
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 30, 2025
$5,200,000
347 Effingham LLC
Olde Towne Hotels LLC
Deed
$4,700,000 · Creekstone Capital Solutions INC
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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