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Property profile & analytics
OFF-MARKET
Estimated value
$4,900,000
Apartment buildings
507 High St Portsmouth, VA 23704-3549
Entity Owned
11-yr Hold
Property ID
US87-0610280
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1945
Construction
BRICK
Total area
43,017 SF
Lot
0.6 ac (26,136 SF)
Zoning code
T5
APN
0013-0070
UPID
US87-0610280
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
-
Roto-Rooter Plumbing & Water Cleanup Plumbing Service General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$5.30M
Comparable Approach
Comparable
$5.61M
Blend (final)
Blend
$4.90M
Owner & transaction history
507 High Street LLC · 11 yrs held
507 High Street LLC
since 2015
5 recorded transactions
Zoning & alternative use
T5 · Portsmouth, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The T5 sub-district contains a higher density mix of uses with primarily retail space permitted on the ground floor.
Zone name
Urban Center
General category
COMMERCIAL
Zone area
45.97 ac
Source
Realmo
Top alternative use upside
Medical building
$5.3M
+32.1%
Retail stores
$5.2M
+29.5%
Office building
$4.5M
+14.1%
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
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$5,740,000
6.5%
$5,300,000
7%
$4,920,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$3,985,000
Current use
MEDICAL BUILDING
$5,260,000
Change: +32% · Conversion: Moderate
RETAIL STORES
$5,160,000
Change: +30% · Conversion: Difficult
OFFICE BUILDING
$4,545,000
Change: +14% · Conversion: Moderate
WAREHOUSE, STORAGE
$3,900,000
Change: -2% · Conversion: Difficult
Blend value · Realmo final
$4.90M
Range $4.41M – $5.39M · ±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
$114 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$29,126
Tax year 2023
Assessed value
$5,289,380
Assessed 2023
Previous assessed
$5,289,380
+0.0% YoY
Effective rate
0.55%
On assessed value
Assessed land
$846,000
Assessed improvement
$4,443,380
Land market value
$846,000
Improvement market value
$4,443,380
Total market value
$5,289,380
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
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Status
Off-Market
Year built
1945
Construction
BRICK
Heating
CENTRAL
Cooling
YES
Stories
7
Units
60
Bathrooms
87
Total area
43,017 SF
Lot
0.6 ac (26,136 SF)
Zoning code
T5
APN
0013-0070
UPID
US87-0610280
Jurisdiction
PORTSMOUTH CITY
Zoning & alternative use
T5 · Portsmouth, VAZoning T5 · permitted uses
T5 · Portsmouth, VA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The T5 sub-district contains a higher density mix of uses with primarily retail space permitted on the ground floor.
Zone name
Urban Center
General category
COMMERCIAL
Zone area
45.97 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$4.0M
MEDICAL BUILDING
Est. value
$5.3M
RETAIL STORES
Est. value
$5.2M
OFFICE BUILDING
Est. value
$4.5M
WAREHOUSE, STORAGE
Est. value
$3.9M
APARTMENT HOUSE (5+ UNITS) Current
MEDICAL BUILDING
RETAIL STORES
OFFICE BUILDING
WAREHOUSE, STORAGE
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
1945
Construction
BRICK
Heating
CENTRAL
Cooling
Yes
Stories
7
Units
60
Bathrooms
87
Lot
0.6 ac
Current owner
From public records · entity-resolved
507 High Street LLC
Entity
Mailing address
1425 E CARY ST, RICHMOND, VA 23219-4274
Ownership since
2015
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 24, 2015
$2,562,500
507 High Street LLC
560 Hotel LLC
Warranty Deed
$5,067,000 · Xenith Bank
Oct 3, 2014
—
560 Hotel LLC
Ramkishan LLC
Grant Deed
related
—
—
—
507 High Street LLC
—
Deed Of Trust
related
$642,000 · 507 High St Managing Member Ll
—
—
Portside Hospitality LLC
—
Deed Of Trust
related
$2,925,000 · Bank Of Commonwealth
—
—
507 High Street LLC
—
Deed Of Trust
related
$4,650,000 · Miscellaneous Ins Co
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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