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Property profile & analytics
FOR LEASE
Retail space
480 Kempsville Rd Chesapeake, VA 23320
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US87-1314701
For Lease
1 / 2
$19.25 SF/Yr
480 Kempsville Rd, Chesapeake, VA 23320
View Listing →
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2015
Total area
16,704 SF
Lot
1.81 ac (78,713 SF)
Zoning code
B2: GENERAL BUSINESS
APN
370000003880
UPID
US87-1314701
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.96M
CAP Approach
CAP
$2.43M
Comparable Approach
Comparable
$3.59M
Blend (final)
Blend
$3.27M
Owner & transaction history
480 Kempsville Property Holdings Ll · 3 yrs held
480 Kempsville Property Holdings Ll
since 2023
Last sale
$3.3M
2 recorded transactions
Zoning & alternative use
B2: GENERAL BUSINESS · Chesapeake, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$4.6M
+48.5%
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
$3,200,000
ML approach
$2,960,000
CAP Approach
CAP Return
Estimation
6%
$2,635,000
6.5%
$2,430,000
7%
$2,255,000
Alternative Use
Use
Estimation
RETAIL STORES
$3,130,000
Current use
AUTO REPAIR, GARAGE
$4,645,000
Change: +48% · Conversion: Difficult
COMMERCIAL (GENERAL)
$2,795,000
Change: -11% · Conversion: Easy
Blend value · Realmo final
$3.27M
Range $2.94M – $3.60M · ±10% · vs last sale $3.30M (Mar 16 2023)
Last sale anchor
$3.30M
Mar 16 2023
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
$196 / 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
$25,696
Tax year 2019
Assessed value
$3,428,900
Assessed 2023
Previous assessed
$3,311,800
+3.5% YoY
Effective rate
0.75%
On assessed value
Assessed land
$1,043,200
Assessed improvement
$2,385,700
Land market value
$1,043,200
Improvement market value
$2,385,700
Total market value
$3,428,900
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
For Lease
Year built
2015
Heating
HEAT PUMP
Stories
1
Units
1
Total area
16,704 SF
Lot
1.81 ac (78,713 SF)
Zoning code
B2: GENERAL BUSINESS
APN
370000003880
UPID
US87-1314701
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
RETAIL STORES Current
Est. value
$3.1M
AUTO REPAIR, GARAGE
Est. value
$4.6M
COMMERCIAL (GENERAL)
Est. value
$2.8M
RETAIL STORES Current
AUTO REPAIR, GARAGE
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
2015
Heating
HEAT PUMP
Stories
1
Units
1
Lot
1.81 ac
Current owner
From public records · entity-resolved
480 Kempsville Property Holdings Ll
Entity
Mailing address
1901 BLUESTEM CT, CHESAPEAKE, VA 23323-6414
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 16, 2023
$3,300,000
480 Kempsville Property Holdings Ll
480 Kempsville LLC
Special Warranty Deed
$2,400,000 · Atlantic Union Bank
Dec 16, 2014
$900,000
480 Kempsville LLC
Bdbg LLC
Warranty Deed
—
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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