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Property profile & analytics
OFF-MARKET
Estimated value
$11,255,000
Warehouses
3512 Business Ctr Dr Chesapeake, VA 23323-2635
Entity Owned
3-yr Hold
Free & Clear
Property ID
US87-0996155
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1998
Total area
69,940 SF
Lot
7.17 ac (312,325 SF)
Zoning code
M1: LIGHT INDUSTRIAL
APN
240000000582
UPID
US87-0996155
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
$8.58M
CAP Approach
CAP
$8.56M
Comparable Approach
Comparable
$11.94M
Blend (final)
Blend
$11.26M
Owner & transaction history
Natmi Lpf Norfolk LLC · 3 yrs held
Natmi Lpf Norfolk LLC
since 2022
Last sale
$13.6M
2 recorded transactions
Zoning & alternative use
M1: LIGHT INDUSTRIAL · Chesapeake, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$18.0M
+92.1%
Retail stores
$13.1M
+39.6%
Commercial (general)
$11.4M
+21.4%
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 Chesapeake submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Chesapeake 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
$11,270,000
ML approach
$8,575,000
CAP Approach
CAP Return
Estimation
6%
$9,275,000
6.5%
$8,560,000
7%
$7,950,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$9,385,000
Current use
AUTO REPAIR, GARAGE
$18,030,000
Change: +92% · Conversion: Easy
RETAIL STORES
$13,105,000
Change: +40% · Conversion: Moderate
COMMERCIAL (GENERAL)
$11,390,000
Change: +21% · Conversion: Difficult
OFFICE BUILDING
$9,825,000
Change: +5% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$8,145,000
Change: -13% · Conversion: Easy
Blend value · Realmo final
$11.26M
Range $10.13M – $12.38M · ±10% · vs last sale $13.59M (Jul 28 2022)
Last sale anchor
$13.59M
Jul 28 2022
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
$161 / 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 2019Property tax & assessments
Tax year 2019
Tax billed
$42,488
Tax year 2019
Assessed value
$10,580,600
Assessed 2023
Previous assessed
$6,709,100
+57.7% YoY
Effective rate
0.40%
On assessed value
Assessed land
$1,434,000
Assessed improvement
$9,146,600
Land market value
$1,434,000
Improvement market value
$9,146,600
Total market value
$10,580,600
Applied tax rate
12.0000
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
1998
Heating
HEAT PUMP
Stories
1
Units
1
Total area
69,940 SF
Lot
7.17 ac (312,325 SF)
Zoning code
M1: LIGHT INDUSTRIAL
APN
240000000582
UPID
US87-0996155
Jurisdiction
CHESAPEAKE CITY
Zoning & alternative use
M1: LIGHT INDUSTRIAL · Chesapeake, VA
Zoning M1: LIGHT INDUSTRIAL · permitted uses
M1: LIGHT INDUSTRIAL · Chesapeake, VA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Chesapeake. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$9.4M
AUTO REPAIR, GARAGE
Est. value
$18.0M
RETAIL STORES
Est. value
$13.1M
COMMERCIAL (GENERAL)
Est. value
$11.4M
OFFICE BUILDING
Est. value
$9.8M
INDUSTRIAL (GENERAL)
Est. value
$8.1M
WAREHOUSE, STORAGE Current
AUTO REPAIR, GARAGE
RETAIL STORES
COMMERCIAL (GENERAL)
OFFICE BUILDING
INDUSTRIAL (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
Heating
HEAT PUMP
Stories
1
Units
1
Lot
7.17 ac
Current owner
From public records · entity-resolved
Natmi Lpf Norfolk LLC
Entity
Free & Clear · 3 yrs held
Mailing address
333 W WACKER DR, CHICAGO, IL 60606-1220
Ownership since
2022
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
Jul 28, 2022
$13,590,000
Natmi Lpf Norfolk LLC
3512 Business Center Owner LLC
Special Warranty Deed
—
Oct 6, 2021
$6,800,000
3512 Business Center Owner LLC
Dixie Investments V LLC
Special Warranty Deed
$4,800,000 · Ameris Bank
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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