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Property profile & analytics
OFF-MARKET
Estimated value
$1,005,000
Office buildings
376 Kempsville Rd Chesapeake, VA 23320-3720
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US87-3994450
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2004
Total area
5,695 SF
Lot
1.37 ac (59,721 SF)
Zoning code
O-I: OFFICE & INSTITUTION
APN
370000000100
UPID
US87-3994450
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
-
Kedron A. Springer Law Firm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.10M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$868k
Blend (final)
Blend
$1.01M
Owner & transaction history
Mts Holding Company LLC · 5 yrs held
Mts Holding Company LLC
since 2021
Last sale
$1.0M
6 recorded transactions
Zoning & alternative use
O-I: OFFICE & INSTITUTION · Chesapeake, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.6M
+97.5%
Retail stores
$1.1M
+33.0%
Commercial (general)
$955,000
+18.7%
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
$1,065,000
ML approach
$1,095,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$800,000
Current use
AUTO REPAIR, GARAGE
$1,585,000
Change: +97% · Conversion: Difficult
RETAIL STORES
$1,065,000
Change: +33% · Conversion: Moderate
COMMERCIAL (GENERAL)
$955,000
Change: +19% · Conversion: Easy
WAREHOUSE, STORAGE
$795,000
Change: -1% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$665,000
Change: -17% · Conversion: Difficult
Blend value · Realmo final
$1.01M
Range $905k – $1.11M · ±10% · vs last sale $1.00M (Jun 16 2021)
Last sale anchor
$1.00M
Jun 16 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
$176 / 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
$11,849
Tax year 2019
Assessed value
$942,300
Assessed 2023
Previous assessed
$975,200
-3.4% YoY
Effective rate
1.26%
On assessed value
Assessed land
$479,800
Assessed improvement
$462,500
Land market value
$479,800
Improvement market value
$462,500
Total market value
$942,300
Applied tax rate
42.0000
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
2004
Heating
HEAT PUMP
Stories
1
Units
1
Rooms
4
Bathrooms
1
Total area
5,695 SF
Lot
1.37 ac (59,721 SF)
Zoning code
O-I: OFFICE & INSTITUTION
APN
370000000100
UPID
US87-3994450
Jurisdiction
CHESAPEAKE CITY
Zoning & alternative use
O-I: OFFICE & INSTITUTION · Chesapeake, VA
Zoning O-I: OFFICE & INSTITUTION · permitted uses
O-I: OFFICE & INSTITUTION · 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
OFFICE BUILDING Current
Est. value
$800,000
AUTO REPAIR, GARAGE
Est. value
$1.6M
RETAIL STORES
Est. value
$1.1M
COMMERCIAL (GENERAL)
Est. value
$955,000
WAREHOUSE, STORAGE
Est. value
$795,000
INDUSTRIAL (GENERAL)
Est. value
$665,000
OFFICE BUILDING Current
AUTO REPAIR, GARAGE
RETAIL STORES
COMMERCIAL (GENERAL)
WAREHOUSE, STORAGE
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
2004
Heating
HEAT PUMP
Stories
1
Units
1
Rooms
4
Bathrooms
1
Lot
1.37 ac
Current owner
From public records · entity-resolved
Mts Holding Company LLC
Entity
Mailing address
376 KEMPSVILLE RD, CHESAPEAKE, VA 23320-3720
Mailing matches property
Yes
Owner-occupied
Yes
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
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 14, 2022
—
Mts Holding Company LLC
—
Deed
related
$493,000 · Business Finance Group INC
Jun 16, 2021
$1,000,000
Mts Holding Company LLC
Greenbrier Educational Foundation I
Warranty Deed
$605,250 · Townebank
Dec 7, 2018
—
Greenbrier Educational Foundation I
Greenbrier Christian Academy INC
Deed
—
Jun 15, 2015
$1,000,000
Greenbrier Christian Academy I
376 LLC
Warranty Deed
—
Aug 27, 2007
$800,000
376 LLC
William A Mcpherson JR
Warranty Deed
$400,000 · Monarch Bank
Apr 29, 2005
$800,000
William Mcpherson JR
Savage & Mcpherson Ins Ag
Warranty Deed
—
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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