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Property profile & analytics
OFF-MARKET
Commercial real estate
417 Virginia Ave Portsmouth, VA 23707
Individually Owned
4-yr Hold
Free & Clear
Property ID
US87-1276324
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Lot
0.33 ac (14,244 SF)
Zoning code
IL
APN
0116-0361
UPID
US87-1276324
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
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Forrest Brian Smith · 4 yrs held
Forrest Brian Smith
since 2022
2 recorded transactions
Zoning & alternative use
IL · Portsmouth, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The Light Industrial IL district is established and intended to accommodate light manufacturing, assembly, fabrication, processing, distribution, storage, research and development, and other industrial uses that are small scale or otherwise have minimal exterior movement of vehicles,
Zone name
Light Industrial
General category
INDUSTRIAL
Zone area
738.31 ac
Source
Realmo
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 Portsmouth submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Portsmouth 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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 2023Property tax & assessments
Tax year 2023
Tax billed
$859
Tax year 2023
Assessed value
$68,710
Assessed 2023
Previous assessed
$68,710
+0.0% YoY
Effective rate
1.25%
On assessed value
Assessed land
$68,710
Land market value
$68,710
Total market value
$68,710
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
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
Off-Market
Heating
NONE
Lot
0.33 ac (14,244 SF)
Zoning code
IL
APN
0116-0361
UPID
US87-1276324
Jurisdiction
PORTSMOUTH CITY
Zoning & alternative use
IL · Portsmouth, VAZoning IL · permitted uses
IL · Portsmouth, VA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The Light Industrial IL district is established and intended to accommodate light manufacturing, assembly, fabrication, processing, distribution, storage, research and development, and other industrial uses that are small scale or otherwise have minimal exterior movement of vehicles,
Zone name
Light Industrial
General category
INDUSTRIAL
Zone area
738.31 ac
Source
Realmo
Building & site characteristics
From public records
Heating
NONE
Lot
0.33 ac
Current owner
From public records · entity-resolved
Forrest Brian Smith
Individual
Free & Clear · 4 yrs held
Mailing address
2503 DETROIT ST, PORTSMOUTH, VA 23707-1707
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
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 29, 2022
—
Forrest Brian Smith
Crystal E Barfoot
Deed
—
Feb 28, 2014
—
Smith,forrest B Living Trust
Smith,forrest B
Quit Claim Deed
related
—
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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