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Property profile & analytics
OFF-MARKET
Estimated value
$3,665,000
Hotels
425 Water St Portsmouth, VA 23704-3801
Entity Owned
15-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US87-1219049
Property profile
Verified
Property type
Hotels
Use group
HOTEL
Year built
2000
Construction
BRICK
Total area
58,115 SF
Lot
1 ac (43,560 SF)
Zoning code
T6
APN
0002-0133
UPID
US87-1219049
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
-
Renaissance Portsmouth-Norfolk Waterfront Hotel Hotel & Motel
-
ATM Atm
-
Encore Rental Equipment Company Tech Support Center
-
Dept of Education Corporate Office
-
3 EGO Dining Grocery & Convenience Store Food Market
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$3.67M
Owner & transaction history
Portsmouth Hotel Assocs LLC · 15 yrs held
Portsmouth Hotel Assocs LLC
since 2011
1 recorded transaction
Zoning & alternative use
T6 · Portsmouth, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
AUTO REPAIR, GARAGE
$4,885,000
Change: 0% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$3,765,000
Change: 0% · Conversion: Difficult
COMMERCIAL (GENERAL)
$3,475,000
Change: 0% · Conversion: Difficult
Blend value · Realmo final
$3.67M
Range $3.30M – $4.03M · ±10%
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
$63 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$50,888
Tax year 2023
Assessed value
$4,071,070
Assessed 2023
Previous assessed
$4,071,070
+0.0% YoY
Effective rate
1.25%
On assessed value
Assessed land
$877,690
Assessed improvement
$3,193,380
Land market value
$877,690
Improvement market value
$3,193,380
Total market value
$4,071,070
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
Hotels
Use group
HOTEL
Status
Off-Market
Year built
2000
Construction
BRICK
Heating
CENTRAL
Cooling
YES
Stories
1
Bathrooms
6
Total area
58,115 SF
Lot
1 ac (43,560 SF)
Zoning code
T6
APN
0002-0133
UPID
US87-1219049
Jurisdiction
PORTSMOUTH CITY
Zoning & alternative use
T6 · Portsmouth, VA
Zoning T6 · permitted uses
T6 · Portsmouth, VA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Portsmouth. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
AUTO REPAIR, GARAGE
Est. value
$4.9M
APARTMENT HOUSE (5+ UNITS)
Est. value
$3.8M
COMMERCIAL (GENERAL)
Est. value
$3.5M
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
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
2000
Construction
BRICK
Heating
CENTRAL
Cooling
Yes
Stories
1
Bathrooms
6
Lot
1 ac
Current owner
From public records · entity-resolved
Portsmouth Hotel Assocs LLC
Entity
Mailing address
2000 WARE BTM SPG RD, CHESTER, VA 23836-4200
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2011
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
Mar 16, 2011
—
Portsmouth Hotel Assocs LLC
—
Loan Modification
related
$530,000,000 · Wells Fargo Bank
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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