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Property profile & analytics
OFF-MARKET
Estimated value
$525,000
Retail space
401 Waters Rd Chesapeake, VA 23322-7347
Entity Owned
2-yr Hold
Free & Clear
Property ID
US87-0094501
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1980
Construction
BRICK
Total area
2,937 SF
Lot
2.01 ac (87,512 SF)
Zoning code
B1: NEIGHBORHOOD BUSINESS
APN
590000001642
UPID
US87-0094501
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
-
Kaiser Custom Images Photography Service (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$525k
CAP Approach
CAP
$425k
Comparable Approach
Comparable
$569k
Blend (final)
Blend
$525k
Owner & transaction history
Waters Holdings LLC · 2 yrs held
Waters Holdings LLC
since 2024
Last sale
$525,000
1 recorded transaction
Zoning & alternative use
B1: NEIGHBORHOOD BUSINESS · Chesapeake, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$755,000
+37.6%
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
$525,000
ML approach
$525,000
CAP Approach
CAP Return
Estimation
6%
$465,000
6.5%
$425,000
7%
$395,000
Alternative Use
Use
Estimation
RETAIL STORES
$550,000
Current use
AUTO REPAIR, GARAGE
$755,000
Change: +38% · Conversion: Difficult
COMMERCIAL (GENERAL)
$480,000
Change: -13% · Conversion: Easy
Blend value · Realmo final
$525k
Range $473k – $578k · ±10% · vs last sale $525k (Apr 29 2024)
Last sale anchor
$525k
Apr 29 2024
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
$179 / 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
$5,496
Tax year 2019
Assessed value
$584,300
Assessed 2023
Previous assessed
$584,300
+0.0% YoY
Effective rate
0.94%
On assessed value
Assessed land
$324,400
Assessed improvement
$259,900
Land market value
$324,400
Improvement market value
$259,900
Total market value
$584,300
Applied tax rate
23.0000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1980
Construction
BRICK
Heating
HEAT PUMP
Cooling
YES
Stories
1
Units
1
Rooms
7
Bathrooms
2
Total area
2,937 SF
Lot
2.01 ac (87,512 SF)
Zoning code
B1: NEIGHBORHOOD BUSINESS
APN
590000001642
UPID
US87-0094501
Jurisdiction
CHESAPEAKE CITY
Zoning & alternative use
B1: NEIGHBORHOOD BUSINESS · Chesapeake, VA
Zoning B1: NEIGHBORHOOD BUSINESS · permitted uses
B1: NEIGHBORHOOD BUSINESS · 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
RETAIL STORES Current
Est. value
$550,000
AUTO REPAIR, GARAGE
Est. value
$755,000
COMMERCIAL (GENERAL)
Est. value
$480,000
RETAIL STORES Current
AUTO REPAIR, GARAGE
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
1980
Construction
BRICK
Heating
HEAT PUMP
Cooling
Yes
Stories
1
Units
1
Rooms
7
Bathrooms
2
Lot
2.01 ac
Current owner
From public records · entity-resolved
Waters Holdings LLC
Entity
Free & Clear · 2 yrs held
Mailing address
1232 MASTERS ROW, CHESAPEAKE, VA 23320-9454
Ownership since
2024
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
Apr 29, 2024
$525,000
Waters Holdings LLC
Kaiser Properties LLC
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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