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Property profile & analytics
OFF-MARKET
Estimated value
$7,475,000
Retail space
4417 Monarch Way Norfolk, VA 23508-2548
Entity Owned
Free & Clear
Property ID
US87-3363585
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2007
Total area
48,445 SF
Lot
0.38 ac (16,618 SF)
Zoning code
UV
APN
911402
UPID
US87-3363585
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
-
University Village Bookstore (Bike/Boat/Book/etc) Store
-
Old Dominion University Monarch Techstore Electronics & Wireless Store
-
Old Dominion Athletic Foundation Charitable Organization
-
Follett Hgher Edu Group Inc (Bike/Boat/Book/etc) Store
-
Real Estate Foundation Charitable Organization Social Service Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$8.47M
Comparable Approach
Comparable
$8.02M
Blend (final)
Blend
$7.48M
Owner & transaction history
ODU REAL EST FOUNDATION
ODU REAL EST FOUNDATION
Zoning & alternative use
UV · Norfolk, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Source
Adopted Zoning Ordinance
Top alternative use upside
Office building
$9.5M
+19.6%
Auto repair, garage
$9.4M
+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%
$9,170,000
6.5%
$8,465,000
7%
$7,860,000
Alternative Use
Use
Estimation
RETAIL STORES
$7,975,000
Current use
OFFICE BUILDING
$9,540,000
Change: +20% · Conversion: Easy
AUTO REPAIR, GARAGE
$9,365,000
Change: +17% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$6,395,000
Change: -20% · Conversion: Difficult
Blend value · Realmo final
$7.48M
Range $6.73M – $8.22M · ±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
$154 / 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
$85,423
Tax year 2024
Assessed value
$6,833,800
Assessed 2024
Previous assessed
$5,253,300
+30.1% YoY
Effective rate
1.25%
On assessed value
Assessed land
$345,000
Assessed improvement
$6,488,800
Land market value
$345,000
Improvement market value
$6,488,800
Total market value
$6,833,800
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
2007
Heating
FORCED AIR
Cooling
YES
Stories
4
Total area
48,445 SF
Lot
0.38 ac (16,618 SF)
Zoning code
UV
APN
911402
UPID
US87-3363585
Jurisdiction
NORFOLK CITY
Zoning & alternative use
UV · Norfolk, VAZoning UV · permitted uses
UV · Norfolk, VA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Source
Adopted Zoning Ordinance
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$8.0M
OFFICE BUILDING
Est. value
$9.5M
AUTO REPAIR, GARAGE
Est. value
$9.4M
INDUSTRIAL (GENERAL)
Est. value
$6.4M
RETAIL STORES Current
OFFICE BUILDING
AUTO REPAIR, GARAGE
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
2007
Heating
FORCED AIR
Cooling
Yes
Stories
4
Lot
0.38 ac
Current owner
From public records · entity-resolved
ODU REAL EST FOUNDATION
Individual
Free & Clear · 0 yrs held
Mailing address
4417 MONARCH WAY, NORFOLK, VA 23508-2548
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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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