Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$550,000
Office Spaces
4000 Colley Ave Ste 300 Norfolk, VA 23508-2677
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US87-3399063
Property profile
Verified
Property type
Office Spaces
Use group
CONDOMINIUM OFFICES
Year built
1989
Total area
2,732 SF
Lot
0.17 ac (7,466 SF)
Zoning code
C-2
APN
5106115
UPID
US87-3399063
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
$505k
CAP Approach
CAP
$620k
Comparable Approach
Comparable
$518k
Blend (final)
Blend
$550k
Owner & transaction history
Gilbert Leasing LLC · 4 yrs held
Gilbert Leasing LLC
since 2022
Last sale
$425,000
3 recorded transactions
Zoning & alternative use
C-2 · Norfolk, VA
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
$550,000
ML approach
$505,000
CAP Approach
CAP Return
Estimation
6%
$670,000
6.5%
$620,000
7%
$575,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$540,000
Current use
AUTO REPAIR, GARAGE
$530,000
Change: -2% · Conversion: Difficult
RETAIL STORES
$450,000
Change: -16% · Conversion: Moderate
Blend value · Realmo final
$550k
Range $495k – $605k · ±10% · vs last sale $425k (Jul 15 2022)
Last sale anchor
$425k
Jul 15 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
$201 / 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
$3,731
Tax year 2024
Assessed value
$298,500
Assessed 2024
Previous assessed
$290,600
+2.7% YoY
Effective rate
1.25%
On assessed value
Assessed land
$83,300
Assessed improvement
$215,200
Land market value
$83,300
Improvement market value
$215,200
Total market value
$298,500
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 Spaces
Use group
CONDOMINIUM OFFICES
Status
Off-Market
Year built
1989
Heating
FORCED AIR
Cooling
YES
Stories
1
Total area
2,732 SF
Lot
0.17 ac (7,466 SF)
Zoning code
C-2
APN
5106115
UPID
US87-3399063
Jurisdiction
NORFOLK CITY
Zoning & alternative use
C-2 · Norfolk, VAZoning C-2 · permitted uses
C-2 · Norfolk, VA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Source
Adopted Zoning Ordinance
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$540,000
AUTO REPAIR, GARAGE
Est. value
$530,000
RETAIL STORES
Est. value
$450,000
OFFICE BUILDING Current
AUTO REPAIR, GARAGE
RETAIL STORES
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
1989
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
0.17 ac
Current owner
From public records · entity-resolved
Gilbert Leasing LLC
Entity
Mailing address
409 YARMOUTH ST, NORFOLK, VA 23510-1425
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 2, 2022
—
Gilbert Leasing LLC
—
Deed
related
$184,000 · 504 Capital Corporation
Jul 15, 2022
$425,000
Gilbert Leasing LLC
Forkids INC
Special Warranty Deed
$220,000 · Southern Bank And Trust Company
Jul 15, 2022
—
Gilbert Leasing LLC
—
Deed
related
$176,000 · Southern Bank And Trust Company
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 4000 Colley Ave Ste, Unit 300?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
