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Property profile & analytics
OFF-MARKET
Parking lots & garages
475 Water St Portsmouth, VA 23704-3819
Individually Owned
4-yr Hold
~
Est. High Equity
Property ID
US87-3892274
Property profile
Verified
Property type
Parking lots & garages
Use group
PARKING GARAGE, PARKING STRUCTURE
Year built
1992
Construction
BRICK
Total area
78,302 SF
Lot
1.72 ac (74,923 SF)
Zoning code
T6
APN
0002-0144
UPID
US87-3892274
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
-
Culbreath Jeffrey DDS Dental Office
-
Cornerstone Systems Trucking Company
-
Admiral's Landing Condominium Complex
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
Terrence Elliott · 4 yrs held
Terrence Elliott
since 2022
Last sale
$310,000
7 recorded transactions
Zoning & alternative use
T6 · Portsmouth, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The T6 sub-district is designed for high-density and waterfront mixed uses. This sub-district is the most intense land use Downtown.
Zone name
Urban Core
General category
MIXED_USE
Zone area
95.68 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
$7,011
Tax year 2023
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
Parking lots & garages
Use group
PARKING GARAGE, PARKING STRUCTURE
Status
Off-Market
Year built
1992
Construction
BRICK
Heating
NONE
Cooling
NONE
Stories
2
Total area
78,302 SF
Lot
1.72 ac (74,923 SF)
Zoning code
T6
APN
0002-0144
UPID
US87-3892274
Jurisdiction
PORTSMOUTH CITY
Zoning & alternative use
T6 · Portsmouth, VAZoning T6 · permitted uses
T6 · Portsmouth, VA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The T6 sub-district is designed for high-density and waterfront mixed uses. This sub-district is the most intense land use Downtown.
Zone name
Urban Core
General category
MIXED_USE
Zone area
95.68 ac
Source
Realmo
Building & site characteristics
From public records
Year built
1992
Construction
BRICK
Heating
NONE
Cooling
Yes
Stories
2
Lot
1.72 ac
Current owner
From public records · entity-resolved
Terrence Elliott
Individual
Mailing address
425 W 20TH ST, NORFOLK, VA 23517-2128
Mailing matches property
Yes
Owner-occupied
Yes
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
22 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 24, 2022
$310,000
Terrence Elliott
Bernard E Howard
Warranty Deed
$310,000 · Veterans United Home Loans
Aug 28, 2020
$180,000
Sharon L Sheffield
Elizabeth River Project
Warranty Deed
—
May 21, 2008
$280,000
James Lancaster
Lafargue,genevieve T
Grant Deed
related
$210,000 · Wachovia Bank NA
Sep 27, 2007
$400,000
Francis C Kelley
Davis,catherine R
Grant Deed
related
$320,000 · National City Mortgage Co
Mar 6, 2007
$387,000
Milton S Brown
Creekmore,catherine J
Grant Deed
related
—
Feb 27, 2007
$375,000
David John Prentice
Brown,sarah Hudgins Rice
Grant Deed
related
$205,000 · Pentagon FCU
Nov 17, 2006
$330,000
Philip C Anderson
Callahan,david M & Nellie J
Grant Deed
related
$178,600 · Us Small Business Admn
Sep 29, 2006
$305,000
William L Marslender
Hayden,peter W & Anne Marie
Grant Deed
related
$145,000 · Provident Funding Assoc LP
Jun 22, 2006
$350,000
Alan C Psimas
Hudgins,edward E & Jane T
Grant Deed
related
$280,000 · Towne Bank Mortgage
Jun 5, 2006
$325,500
Juan S Crofton
Callahan,james W & Arlene M
Grant Deed
related
$260,400 · Branch Banking & Trust Co Va
—
—
Evelyn Sierra Hammond
—
Deed Of Trust
related
$284,000 · Lawyers Title Insurance
—
—
David A Jordan
—
Deed Of Trust
related
$260,456 · Wachovia Bank NA
—
—
David S Griffin
—
Deed Of Trust
related
$280,000 · Countrywide Home Loans INC
—
—
Genevieve T Lafargue
—
Deed Of Trust
related
$97,000 · Towne Bank Mortgage
—
—
Silvanis M Jones
—
Deed Of Trust
related
$182,400 · Countrywide Home Loans INC
—
—
Elizabeth M Paimas
—
Deed Of Trust
related
$283,700 · Towne Bank
—
—
Charlotte A Littlewood
—
Deed Of Trust
related
$470,250 · Wells Fargo Bank
—
—
Victor A Cordero
—
Deed Of Trust
related
$350,000 · Branch Banking & Trust Co
—
—
Robert A Smith
—
Deed Of Trust
related
$25,000 · Branch Banking & Trust Co
—
—
Bessie B Richards
—
Deed Of Trust
related
$451,230 · Financial Freedom Senior Fundi
—
—
Joe B Fleming
—
Deed Of Trust
related
$20,000 · Private Lender
—
—
Charles E Ciccotti
—
Deed Of Trust
related
$45,000 · Towne Bank Mortgage
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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