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Property profile & analytics
OFF-MARKET
Estimated value
$595,000
Retail space
4311 Colley Ave Norfolk, VA 23508-2509
Entity Owned
5-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US87-3399007
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1956
Total area
3,729 SF
Lot
0.29 ac (12,415 SF)
APN
50000592
UPID
US87-3399007
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
-
Cogans Pizza North Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$650k
Comparable Approach
Comparable
$565k
Blend (final)
Blend
$595k
Owner & transaction history
4311 Colley LLC · 5 yrs held
4311 Colley LLC
since 2020
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$735,000
+19.6%
Auto repair, garage
$720,000
+17.4%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$705,000
6.5%
$650,000
7%
$605,000
Alternative Use
Use
Estimation
RETAIL STORES
$615,000
Current use
OFFICE BUILDING
$735,000
Change: +20% · Conversion: Easy
AUTO REPAIR, GARAGE
$720,000
Change: +17% · Conversion: Difficult
Blend value · Realmo final
$595k
Range $536k – $655k · ±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
$160 / 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
$9,143
Tax year 2024
Assessed value
$731,400
Assessed 2024
Previous assessed
$713,800
+2.5% YoY
Effective rate
1.25%
On assessed value
Assessed land
$248,200
Assessed improvement
$483,200
Land market value
$248,200
Improvement market value
$483,200
Total market value
$731,400
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
1956
Heating
FORCED AIR
Cooling
YES
Stories
1
Total area
3,729 SF
Lot
0.29 ac (12,415 SF)
APN
50000592
UPID
US87-3399007
Jurisdiction
NORFOLK CITY
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$615,000
OFFICE BUILDING
Est. value
$735,000
AUTO REPAIR, GARAGE
Est. value
$720,000
RETAIL STORES Current
OFFICE BUILDING
AUTO REPAIR, GARAGE
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
1956
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
0.29 ac
Current owner
From public records · entity-resolved
4311 Colley LLC
Entity
Mailing address
4914 COLLEY AVEA, NORFOLK, VA 23508-2038
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2020
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
Aug 27, 2020
—
4311 Colley LLC
—
Deed
related
$583,000 · Townebank
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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