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Property profile & analytics
OFF-MARKET
Estimated value
$1,165,000
Strip malls
3574 Military Hwy Norfolk, VA 23518-5543
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US87-3376287
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1949
Total area
10,648 SF
Lot
1.77 ac (77,275 SF)
Zoning code
R-6
APN
551900
UPID
US87-3376287
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
-
Mona Lisa's Restaurant & Bar Restaurant
-
Boracay Philippine Cuisine Restaurant
-
murphys law southern grill Bar & Pub Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.29M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.17M
Owner & transaction history
Gsa Realty LLC · 5 yrs held
Gsa Realty LLC
since 2021
Last sale
$1.1M
1 recorded transaction
Zoning & alternative use
R-6 · Norfolk, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$1.7M
+269.2%
Restaurant
$1.4M
+206.8%
Auto repair, garage
$1.4M
+206.2%
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
$1,280,000
ML approach
$1,285,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,725,000
Change: +269% · Conversion: Moderate
RESTAURANT
$1,430,000
Change: +207% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,430,000
Change: +206% · Conversion: Difficult
RETAIL STORES
$1,040,000
Change: +123% · Conversion: Easy
INDUSTRIAL (GENERAL)
$940,000
Change: +101% · Conversion: Difficult
COMMERCIAL (GENERAL)
$910,000
Change: +95% · Conversion: Easy
Blend value · Realmo final
$1.17M
Range $1.05M – $1.28M · ±10% · vs last sale $1.05M (Jun 10 2021)
Last sale anchor
$1.05M
Jun 10 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
$109 / 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
$12,804
Tax year 2024
Assessed value
$1,024,300
Assessed 2024
Previous assessed
$1,002,900
+2.1% YoY
Effective rate
1.25%
On assessed value
Assessed land
$772,900
Assessed improvement
$251,400
Land market value
$772,900
Improvement market value
$251,400
Total market value
$1,024,300
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1949
Heating
FORCED AIR
Cooling
YES
Buildings
2
Stories
1
Total area
10,648 SF
Lot
1.77 ac (77,275 SF)
Zoning code
R-6
APN
551900
UPID
US87-3376287
Jurisdiction
NORFOLK CITY
Zoning & alternative use
R-6 · Norfolk, VA
Zoning R-6 · permitted uses
R-6 · Norfolk, VA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Norfolk. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING
Est. value
$1.7M
RESTAURANT
Est. value
$1.4M
AUTO REPAIR, GARAGE
Est. value
$1.4M
RETAIL STORES
Est. value
$1.0M
INDUSTRIAL (GENERAL)
Est. value
$940,000
COMMERCIAL (GENERAL)
Est. value
$910,000
OFFICE BUILDING
RESTAURANT
AUTO REPAIR, GARAGE
RETAIL STORES
INDUSTRIAL (GENERAL)
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
1949
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
2
Lot
1.77 ac
Current owner
From public records · entity-resolved
Gsa Realty LLC
Entity
Mailing address
129 ALTER AVE, STATEN ISLAND, NY 10304-3903
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
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 10, 2021
$1,050,000
Gsa Realty LLC
Alpaca Realty INC
Warranty Deed
$350,000 · Alpaca Realty 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.
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