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Property profile & analytics
OFF-MARKET
Estimated value
$2,625,000
Warehouses
3560 Elm Ave Portsmouth, VA 23704-7112
Entity Owned
7-yr Hold
Free & Clear
Property ID
US87-3837066
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1975
Total area
28,271 SF
Lot
3.05 ac (132,727 SF)
Zoning code
IN
APN
0386-0027
UPID
US87-3837066
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
-
Sherwin-Williams Commercial Paint Store Hardware & Home Improvement Building Supply
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$3.21M
Comparable Approach
Comparable
$2.83M
Blend (final)
Blend
$2.63M
Owner & transaction history
Portsmouth LLC · 7 yrs held
Portsmouth LLC
since 2018
7 recorded transactions
Zoning & alternative use
IN · Portsmouth, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$3.5M
+34.9%
Retail stores
$3.4M
+32.3%
Office building
$3.0M
+16.5%
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%
$3,475,000
6.5%
$3,210,000
7%
$2,980,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$2,565,000
Current use
MEDICAL BUILDING
$3,460,000
Change: +35% · Conversion: Difficult
RETAIL STORES
$3,390,000
Change: +32% · Conversion: Moderate
OFFICE BUILDING
$2,985,000
Change: +17% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$2,620,000
Change: +2% · Conversion: Difficult
Blend value · Realmo final
$2.63M
Range $2.36M – $2.89M · ±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
$93 / 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
$29,779
Tax year 2023
Assessed value
$1,420,580
Assessed 2023
Previous assessed
$1,420,580
+0.0% YoY
Effective rate
2.10%
On assessed value
Assessed land
$286,470
Assessed improvement
$1,134,110
Land market value
$286,470
Improvement market value
$1,134,110
Total market value
$1,420,580
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
1975
Heating
CENTRAL
Cooling
NONE
Stories
1
Bathrooms
3
Total area
28,271 SF
Lot
3.05 ac (132,727 SF)
Zoning code
IN
APN
0386-0027
UPID
US87-3837066
Jurisdiction
PORTSMOUTH CITY
Zoning & alternative use
IN · Portsmouth, VA
Zoning IN · permitted uses
IN · 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
WAREHOUSE, STORAGE Current
Est. value
$2.6M
MEDICAL BUILDING
Est. value
$3.5M
RETAIL STORES
Est. value
$3.4M
OFFICE BUILDING
Est. value
$3.0M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.6M
WAREHOUSE, STORAGE Current
MEDICAL BUILDING
RETAIL STORES
OFFICE BUILDING
APARTMENT HOUSE (5+ UNITS)
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
1975
Heating
CENTRAL
Cooling
Yes
Stories
1
Bathrooms
3
Lot
3.05 ac
Current owner
From public records · entity-resolved
Portsmouth LLC
Entity
Free & Clear · 7 yrs held
Mailing address
1717 N BAYSHORE DR, MIAMI, FL 33132-1103
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 10, 2019
—
Portsmouth LLC
—
Deed
related
$950,000 · Wells Fargo Bank NA
Nov 15, 2018
$749,280
Portsmouth LLC
Real Mint LLC
Grant Deed
—
Dec 29, 2005
$900,000
Properties L P Holda
Elm Leasing
Grant Deed
related
—
Feb 14, 2005
—
Elm Ave Realty LLC
—
Deed Of Trust
related
$1,140,000 · Tidewater Busn Financing Corp
Aug 2, 2004
$2,500,000
Elm Avenue Realty LLC
Adkins,howard S
Grant Deed
related
$2,250,000 · Northstar Funding
—
—
Elm Avenue Realty LLC
—
Deed Of Trust
related
$2,300,000 · Td Bank NA
—
—
Elm Leasing Co
—
Deed Of Trust
related
$2,900,000 · Bank Of Commonwealth
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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