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Property profile & analytics
OFF-MARKET
Estimated value
$835,000
Office buildings
505 Barnes Rd Chesapeake, VA 23324-1303
Individually Owned
21-yr Hold
~
Est. High Equity
Property ID
US87-0071869
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1754
Total area
6,650 SF
Lot
1.68 ac (73,181 SF)
Zoning code
M2: GENERAL INDUSTRIAL
APN
1380000000041
UPID
US87-0071869
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
-
Perdue Farms Inc Ranch Farm
-
McCloud Cemetery Cemetery
-
John B. McCloud Family Cemetery Cemetery
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$757k
Blend (final)
Blend
$835k
Owner & transaction history
Mccgi L L C · 21 yrs held
Mccgi L L C
since 2005
2 recorded transactions
Zoning & alternative use
M2: GENERAL INDUSTRIAL · Chesapeake, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$1.2M
+33.4%
Commercial (general)
$1.1M
+16.0%
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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$935,000
Current use
RETAIL STORES
$1,245,000
Change: +33% · Conversion: Moderate
COMMERCIAL (GENERAL)
$1,085,000
Change: +16% · Conversion: Easy
WAREHOUSE, STORAGE
$890,000
Change: -4% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$775,000
Change: -17% · Conversion: Difficult
Blend value · Realmo final
$835k
Range $752k – $919k · ±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
$126 / 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
$4,745
Tax year 2019
Assessed value
$584,600
Assessed 2023
Previous assessed
$552,000
+5.9% YoY
Effective rate
0.81%
On assessed value
Assessed land
$184,800
Assessed improvement
$399,800
Land market value
$184,800
Improvement market value
$399,800
Total market value
$584,600
Applied tax rate
31.0000
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1754
Heating
NONE
Cooling
NONE
Stories
1
Units
1
Total area
6,650 SF
Lot
1.68 ac (73,181 SF)
Zoning code
M2: GENERAL INDUSTRIAL
APN
1380000000041
UPID
US87-0071869
Jurisdiction
CHESAPEAKE CITY
Zoning & alternative use
M2: GENERAL INDUSTRIAL · Chesapeake, VA
Zoning M2: GENERAL INDUSTRIAL · permitted uses
M2: GENERAL INDUSTRIAL · 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
OFFICE BUILDING Current
Est. value
$935,000
RETAIL STORES
Est. value
$1.2M
COMMERCIAL (GENERAL)
Est. value
$1.1M
WAREHOUSE, STORAGE
Est. value
$890,000
INDUSTRIAL (GENERAL)
Est. value
$775,000
OFFICE BUILDING Current
RETAIL STORES
COMMERCIAL (GENERAL)
WAREHOUSE, STORAGE
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
1754
Heating
NONE
Cooling
Yes
Stories
1
Units
1
Lot
1.68 ac
Current owner
From public records · entity-resolved
Mccgi L L C
Individual
Mailing address
1104 MURRAY DR, CHESAPEAKE, VA 23322-1802
Ownership since
2005
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
Jan 28, 2020
—
Mccgi LLC
—
Deed
related
$403,000 · Farmers Bank
Mar 1, 2005
$90,000
Mccgi L L C
Andrew Marscheider
Warranty Deed
$93,000 · Gateway Bank & Trust
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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