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Property profile & analytics
OFF-MARKET
Office buildings
505 Cedar Rd Ste C Chesapeake, VA 23322-5585
Entity Owned
7-yr Hold
~
Est. High Equity
Property ID
US87-0554710
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1986
Total area
5,220 SF
Lot
1.25 ac (54,450 SF)
Zoning code
O-I: OFFICE & INSTITUTION
APN
470000000783
UPID
US87-0554710
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
-
Inner Harmony, Center For The Healing Arts Alternative Medicine Practice Spa & Massage Center
-
Joshua Ott, 1st Class Real Estate Real Estate Agency
-
Corbin Miles-Real Estate Agent Real Estate Agency
-
Ganderson Stephen C PHD Physician Medical Clinic
-
Bright Creations International Consultant
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
Garrett Thompson And Wright LLC · 7 yrs held
Garrett Thompson And Wright LLC
since 2019
2 recorded transactions
Zoning & alternative use
O-I: OFFICE & INSTITUTION · Chesapeake, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
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 2019Property tax & assessments
Tax year 2019
Tax billed
$6,284
Tax year 2019
Assessed value
$599,200
Assessed 2023
Previous assessed
$626,900
-4.4% YoY
Effective rate
1.05%
On assessed value
Assessed land
$374,000
Assessed improvement
$225,200
Land market value
$374,000
Improvement market value
$225,200
Total market value
$599,200
Applied tax rate
23.0000
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
1986
Heating
HEAT PUMP
Stories
1
Units
1
Total area
5,220 SF
Lot
1.25 ac (54,450 SF)
Zoning code
O-I: OFFICE & INSTITUTION
APN
470000000783
UPID
US87-0554710
Jurisdiction
CHESAPEAKE CITY
Zoning & alternative use
O-I: OFFICE & INSTITUTION · Chesapeake, VA
Zoning O-I: OFFICE & INSTITUTION · permitted uses
O-I: OFFICE & INSTITUTION · 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.
Building & site characteristics
From public records
Year built
1986
Heating
HEAT PUMP
Stories
1
Units
1
Lot
1.25 ac
Current owner
From public records · entity-resolved
Garrett Thompson And Wright LLC
Entity
Mailing address
4240 PORTSMOUTH BLVD #190, CHESAPEAKE, VA 23321-2129
Ownership since
2019
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 29, 2019
—
Garrett Thompson And Wright LLC
Garrett Thompson And Wright
Deed
—
Dec 7, 2017
—
Garrett Thompson And Wright LLC
—
Deed
related
$176,000 · Fulton Bank NA
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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