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Property profile & analytics
OFF-MARKET
Estimated value
$675,000
Grocery and convenience stores
471 Kempsville Rd Chesapeake, VA 23320-3721
Entity Owned
9-yr Hold
Free & Clear
Property ID
US87-1069214
Property profile
Verified
Property type
Grocery and convenience stores
Use group
CONVENIENCE STORE
Year built
2014
Total area
5,020 SF
Lot
1.86 ac (80,891 SF)
Zoning code
B2: GENERAL BUSINESS
APN
370000000171
UPID
US87-1069214
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
-
Wawa Restaurant Take-out & Catering
-
PNC ATM Atm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$865k
Comparable Approach
Comparable
$759k
Blend (final)
Blend
$675k
Owner & transaction history
Our Way Development Company A Calif · 9 yrs held
Our Way Development Company A Calif
since 2017
7 recorded transactions
Zoning & alternative use
B2: GENERAL BUSINESS · Chesapeake, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$800,000
+644.9%
Office building
$450,000
+316.9%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$935,000
6.5%
$865,000
7%
$800,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$800,000
Change: +645% · Conversion: Easy
OFFICE BUILDING
$450,000
Change: +317% · Conversion: Moderate
Blend value · Realmo final
$675k
Range $608k – $743k · ±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
$134 / 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
$27,850
Tax year 2019
Assessed value
$4,688,100
Assessed 2023
Previous assessed
$3,803,500
+23.3% YoY
Effective rate
0.59%
On assessed value
Assessed land
$1,671,300
Assessed improvement
$3,016,800
Land market value
$1,671,300
Improvement market value
$3,016,800
Total market value
$4,688,100
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
Grocery and convenience stores
Use group
CONVENIENCE STORE
Status
Off-Market
Year built
2014
Heating
PACKAGE
Cooling
AC.PACKAGE
Stories
1
Units
1
Total area
5,020 SF
Lot
1.86 ac (80,891 SF)
Zoning code
B2: GENERAL BUSINESS
APN
370000000171
UPID
US87-1069214
Jurisdiction
CHESAPEAKE CITY
Zoning & alternative use
B2: GENERAL BUSINESS · Chesapeake, VA
Zoning B2: GENERAL BUSINESS · permitted uses
B2: GENERAL BUSINESS · 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
COMMERCIAL (GENERAL)
Est. value
$800,000
OFFICE BUILDING
Est. value
$450,000
COMMERCIAL (GENERAL)
OFFICE BUILDING
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
2014
Heating
PACKAGE
Cooling
Yes
Stories
1
Units
1
Lot
1.86 ac
Current owner
From public records · entity-resolved
Our Way Development Company A Calif
Entity
Free & Clear · 9 yrs held
Mailing address
2601 E 3RD STA664, RIVERSIDE, CA 92507-3310
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 30, 2017
$4,600,000
Our Way Development Company A Calif
Ah Greentree LLC A Virginia Limited
Special Warranty Deed
—
Dec 5, 2013
—
Colon H Whitehurst
Virginia Electric And Power Co
Quit Claim Deed
related
—
Dec 5, 2013
$1,449,350
Ah Greentree LLC
Colon H Whitehurst
Warranty Deed
—
Dec 5, 2013
$3,000,000
Wal Mart Real Estate Business
Colon H Whitehurst
Special Warranty Deed
—
Nov 21, 2013
—
Colon H Whitehurst
Whitehall LLC
Quit Claim Deed
related
—
Nov 20, 2013
—
Colon H Whitehurst
Verizon South INC
Quit Claim Deed
related
—
Oct 18, 2013
—
Colon H Whitehurst
Verizon South INC
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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