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Property profile & analytics
OFF-MARKET
Estimated value
$1,480,000
Showrooms
3490 Virginia Bch Blvd Norfolk, VA 23502-3123
Entity Owned
5-yr Hold
Free & Clear
Property ID
US87-3366448
Property profile
Verified
Property type
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Year built
1972
Total area
22,472 SF
Lot
1.14 ac (49,746 SF)
Zoning code
BC-2
APN
22291200
UPID
US87-3366448
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
-
C E Thurston & Sons Inc General Contractor Renovation Specialist
-
Carroll Shelby Racing Car Racing Track
-
LBJ Property Management Property Management Company
-
Rent A Lift Auto Repair Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.56M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.51M
Blend (final)
Blend
$1.48M
Owner & transaction history
Franklin-sims LLC · 5 yrs held
Franklin-sims LLC
since 2021
Last sale
$1.2M
4 recorded transactions
Zoning & alternative use
BC-2 · Norfolk, VA
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
$1,480,000
ML approach
$1,555,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$1.48M
Range $1.33M – $1.63M · ±10% · vs last sale $1.21M (Apr 30 2021)
Last sale anchor
$1.21M
Apr 30 2021
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
$66 / 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
$13,539
Tax year 2024
Assessed value
$1,083,100
Assessed 2024
Previous assessed
$1,055,300
+2.6% YoY
Effective rate
1.25%
On assessed value
Assessed land
$328,400
Assessed improvement
$754,700
Land market value
$328,400
Improvement market value
$754,700
Total market value
$1,083,100
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
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Status
Off-Market
Year built
1972
Heating
SPACE
Cooling
YES
Stories
1
Total area
22,472 SF
Lot
1.14 ac (49,746 SF)
Zoning code
BC-2
APN
22291200
UPID
US87-3366448
Jurisdiction
NORFOLK CITY
Zoning & alternative use
BC-2 · Norfolk, VAZoning BC-2 · permitted uses
BC-2 · Norfolk, VA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Source
Adopted Zoning Ordinance
Building & site characteristics
From public records
Year built
1972
Heating
SPACE
Cooling
Yes
Stories
1
Lot
1.14 ac
Current owner
From public records · entity-resolved
Franklin-sims LLC
Entity
Free & Clear · 5 yrs held
Mailing address
4 POINDEXTER CT, WILLIAMSBURG, VA 23188-6407
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 30, 2021
$1,213,870
Franklin-sims LLC
Tdi Property Group LLC
Special Warranty Deed
—
Apr 2, 2015
$800,000
Tdi Property Group LLC A Virginia L
Msp Realty LLC A Virginia Limited L
Special Warranty Deed
—
Mar 27, 2013
$610,000
Mspjk Realty LLC
William P Martin JR
Deed
—
Apr 26, 2012
—
William P Martin JR
William P Martin JR
Gift Deed
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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