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Property profile & analytics
OFF-MARKET
Estimated value
$800,000
Apartment buildings
356 Broad St Portsmouth, VA 23707-1642
Entity Owned
4-yr Hold
Property ID
US87-1064239
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1985
Construction
STONE
Total area
6,388 SF
Lot
0.26 ac (11,238 SF)
Zoning code
HLB
APN
0144-0740
UPID
US87-1064239
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
-
Adamo Carpet & Flooring Company Big Box & Wholesale Store
-
Veronica Lucy Nails Nail Salon
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$785k
Comparable Approach
Comparable
$836k
Blend (final)
Blend
$800k
Owner & transaction history
Hlm Investments LLC · 4 yrs held
Hlm Investments LLC
since 2022
Last sale
$790,000
2 recorded transactions
Zoning & alternative use
HLB · Portsmouth, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The HLB sub district is generally intended for commercial uses with, along with limited residential, and institutional uses.
Zone name
Historic Limited Business
General category
CIVIC_INSTITUTIONAL
Zone area
11.32 ac
Source
Realmo
Top alternative use upside
Office building
$880,000
+45.8%
Medical building
$780,000
+29.5%
Retail stores
$765,000
+26.9%
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
$570,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$850,000
6.5%
$785,000
7%
$730,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$605,000
Current use
OFFICE BUILDING
$880,000
Change: +46% · Conversion: Moderate
MEDICAL BUILDING
$780,000
Change: +29% · Conversion: Moderate
RETAIL STORES
$765,000
Change: +27% · Conversion: Difficult
WAREHOUSE, STORAGE
$580,000
Change: -4% · Conversion: Difficult
Blend value · Realmo final
$800k
Range $720k – $880k · ±10% · vs last sale $790k (May 6 2022)
Last sale anchor
$790k
May 6 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
$125 / 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
$11,024
Tax year 2023
Assessed value
$832,700
Assessed 2023
Previous assessed
$832,700
+0.0% YoY
Effective rate
1.32%
On assessed value
Assessed land
$180,000
Assessed improvement
$652,700
Land market value
$180,000
Improvement market value
$652,700
Total market value
$832,700
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
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Status
Off-Market
Year built
1985
Construction
STONE
Heating
HEAT PUMP
Cooling
YES
Stories
2
Units
10
Bathrooms
10
Total area
6,388 SF
Lot
0.26 ac (11,238 SF)
Zoning code
HLB
APN
0144-0740
UPID
US87-1064239
Jurisdiction
PORTSMOUTH CITY
Zoning & alternative use
HLB · Portsmouth, VAZoning HLB · permitted uses
HLB · Portsmouth, VA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The HLB sub district is generally intended for commercial uses with, along with limited residential, and institutional uses.
Zone name
Historic Limited Business
General category
CIVIC_INSTITUTIONAL
Zone area
11.32 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$605,000
OFFICE BUILDING
Est. value
$880,000
MEDICAL BUILDING
Est. value
$780,000
RETAIL STORES
Est. value
$765,000
WAREHOUSE, STORAGE
Est. value
$580,000
APARTMENT HOUSE (5+ UNITS) Current
OFFICE BUILDING
MEDICAL BUILDING
RETAIL STORES
WAREHOUSE, STORAGE
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
1985
Construction
STONE
Heating
HEAT PUMP
Cooling
Yes
Stories
2
Units
10
Bathrooms
10
Lot
0.26 ac
Current owner
From public records · entity-resolved
Hlm Investments LLC
Entity
Mailing address
2207 GARNET AVE, SAN DIEGO, CA 92109-3713
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
May 6, 2022
$790,000
Hlm Investments LLC
Robert W Mccarty
Warranty Deed
$553,000 · Summit Community Bank
—
—
Robert W Mccarty
—
Deed Of Trust
related
$500,000 · Monarch 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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