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Property profile & analytics
OFF-MARKET
Estimated value
$1,925,000
Warehouses
409 Network Sta Chesapeake, VA 23320-3851
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US87-0896375
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
2009
Total area
14,963 SF
Lot
1.61 ac (69,914 SF)
Zoning code
PUD: PLANNED UNIT DEVELOP
APN
482010000260
UPID
US87-0896375
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
-
Hurricane Gymnastics Inc Gym & Fitness Center
-
Network Dumpster Rental Chesapeake General Contractor Waste Management Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.93M
CAP Approach
CAP
$1.83M
Comparable Approach
Comparable
$2.55M
Blend (final)
Blend
$1.93M
Owner & transaction history
409 Network Station LLC · 2 yrs held
409 Network Station LLC
since 2024
Last sale
$1.9M
3 recorded transactions
Zoning & alternative use
PUD: PLANNED UNIT DEVELOP · Chesapeake, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$2.8M
+34.0%
Commercial (general)
$2.5M
+19.7%
Office building
$2.1M
+0.8%
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
$1,925,000
ML approach
$1,925,000
CAP Approach
CAP Return
Estimation
6%
$1,985,000
6.5%
$1,830,000
7%
$1,700,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$2,090,000
Current use
RETAIL STORES
$2,805,000
Change: +34% · Conversion: Moderate
COMMERCIAL (GENERAL)
$2,505,000
Change: +20% · Conversion: Difficult
OFFICE BUILDING
$2,110,000
Change: +1% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$1,740,000
Change: -17% · Conversion: Easy
Blend value · Realmo final
$1.93M
Range $1.73M – $2.12M · ±10% · vs last sale $1.93M (Jan 30 2024)
Last sale anchor
$1.93M
Jan 30 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
$129 / 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
$15,677
Tax year 2019
Assessed value
$2,002,700
Assessed 2023
Previous assessed
$2,002,700
+0.0% YoY
Effective rate
0.78%
On assessed value
Assessed land
$401,300
Assessed improvement
$1,601,400
Land market value
$401,300
Improvement market value
$1,601,400
Total market value
$2,002,700
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
2009
Heating
HEAT PUMP
Stories
1
Units
1
Total area
14,963 SF
Lot
1.61 ac (69,914 SF)
Zoning code
PUD: PLANNED UNIT DEVELOP
APN
482010000260
UPID
US87-0896375
Jurisdiction
CHESAPEAKE CITY
Zoning & alternative use
PUD: PLANNED UNIT DEVELOP · Chesapeake, VA
Zoning PUD: PLANNED UNIT DEVELOP · permitted uses
PUD: PLANNED UNIT DEVELOP · 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
WAREHOUSE, STORAGE Current
Est. value
$2.1M
RETAIL STORES
Est. value
$2.8M
COMMERCIAL (GENERAL)
Est. value
$2.5M
OFFICE BUILDING
Est. value
$2.1M
INDUSTRIAL (GENERAL)
Est. value
$1.7M
WAREHOUSE, STORAGE Current
RETAIL STORES
COMMERCIAL (GENERAL)
OFFICE BUILDING
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
2009
Heating
HEAT PUMP
Stories
1
Units
1
Lot
1.61 ac
Current owner
From public records · entity-resolved
409 Network Station LLC
Entity
Mailing address
1000 POINDEXTER ST, CHESAPEAKE, VA 23324-2445
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 30, 2024
$1,925,000
409 Network Station LLC
Wheatheart Investments LLC
Warranty Deed
$1,085,000 · Wheatheart Investments LLC
Aug 7, 2023
—
Wheatheart Investments LLC
—
Deed
related
$750,000 · Townebank
Nov 5, 2008
$304,000
Wheatheart Investments LLC
Economic Dev Auth Cty Che
Special Warranty Deed
$1,373,000 · Wachovia Sba Lending 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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