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501 Discovery Dr, Chesapeake, VA 23320
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Property summary
AI-generated overview
The property is commercial land with fully engineered site plans prepared for a proposed building size of approximately 7,000 to 10,000 square feet. It is positioned for access to Route 168 and other major thoroughfares and includes ingress and egress designed for convenient circulation with ample parking. The site is planned to support flexible interior layout options, with stormwater retention already in place. The surrounding area includes nearby healthcare facilities, including proximity to Chesapeake Regional Medical Center, and the general market area has an average household income of approximately $117,000 within a 5-mile radius.
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2016
Total area
23,825 SF
Lot
6.58 ac (286,755 SF)
Zoning code
PUD: PLANNED UNIT DEVELOP
APN
482010000060
UPID
US87-1896362
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Physician
-
Physician
-
Physician
-
Physician
-
Physician
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.32M
Owner & transaction history
since 2015
1 recorded transaction
Zoning & alternative use
PUD: PLANNED UNIT DEVELOP · Chesapeake, VA
Top alternative use upside
Office building
$2.1M
+41.5%
Auto repair, garage
$1.9M
+26.8%
Restaurant
$1.9M
+26.6%
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
5 alternative uses screened
Sensitivity value band
Source audit · 6 inputs
PDF export
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Summary
1
Valuation conclusion
Included free
Estimated market value
$1.32M
Value range
$1.18M – $1.45M
±10% around blend
Estimated value / SF
$55 / SF
Confidence
Property data
100
Comparable evidence
60
$1.18M
blend $1.32M
$1.45M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
23,825 SF
Lot area
6.58 ac
Year built
2016
Stories
1
APN
482010000060
Zoning
PUD: PLANNED UNIT DEVELOP
Assessed value
$6,289,200
Annual tax
$60,379
3
Income approach: direct capitalization
Partial preview
Not enough income data on file for a CAP-approach estimation.
4
Sales comparison
Partial preview
Too few qualifying comparables for a sales-approach estimation.
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$1.32M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Alternative use screening
Partial preview
Top alternative use
Office Building
Gross theoretical uplift
+41%
vs current-use indication
Auto Repair, Garage
Restaurant
Medical Building · current use
Apartment House (5+ Units)
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
7
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Not available
Market rent
Not available
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: replacement-cost inputs are not on file.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Market rates by use type
PDF export
Professional plan · 30 reports
from $99/month
from $99/month
Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$6.29M
Move the market yield to see immediate price impact.
Value / SF
$264
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.00%7.00%9.00%
$396k
$7.92M
$5.66M
$4.40M
$440k
$8.80M
$6.29M
$4.89M
$484k
$9.69M
$6.92M
$5.38M
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Property tax & assessments
Tax year 2019Property tax & assessments
Tax year 2019
Tax billed
$60,379
Tax year 2019
Assessed value
$6,289,200
Assessed 2023
Previous assessed
$6,215,200
+1.2% YoY
Effective rate
0.96%
On assessed value
Assessed land
$1,382,400
Assessed improvement
$4,906,800
Land market value
$1,382,400
Improvement market value
$4,906,800
Total market value
$6,289,200
Applied tax rate
42.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Status
For Sale
Year built
2016
Heating
PACKAGE
Cooling
AC.PACKAGE
Stories
1
Units
1
Total area
23,825 SF
Lot
6.58 ac (286,755 SF)
Zoning code
PUD: PLANNED UNIT DEVELOP
APN
482010000060
UPID
US87-1896362
Jurisdiction
CHESAPEAKE CITY
Zoning & alternative use
PUD: PLANNED UNIT DEVELOP · Chesapeake, VAZoning PUD: PLANNED UNIT DEVELOP · permitted uses
PUD: PLANNED UNIT DEVELOP · Chesapeake, VA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
2016
Heating
PACKAGE
Cooling
Yes
Stories
1
Units
1
Lot
6.58 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
PUD: PLANNED UNIT DEVELOP
Jurisdiction
Chesapeake, VA
Recorded code
PUD: PLANNED UNIT DEVELOP
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for PUD: PLANNED UNIT DEVELOP in Chesapeake, VA.
What opens after registration
Zoning profile
2 official documentsVerified municipal sources with file download
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
Registration is required before the official district profile is shown.
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Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
One complete report on every paid plan · 30 · 300 reports per month.
Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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