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Property profile & analytics
OFF-MARKET
Estimated value
$4,830,000
Retail space
561 Cedar Rd Ste 1 Chesapeake, VA 23322-8384
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US87-0836898
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2007
Total area
7,000 SF
Lot
0.7 ac (30,623 SF)
Zoning code
B1: NEIGHBORHOOD BUSINESS
APN
470000000744
UPID
US87-0836898
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
$4.77M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$4.83M
Owner & transaction history
Cedar Lakes Investments Associates · 3 yrs held
Cedar Lakes Investments Associates
since 2023
Last sale
$4.9M
1 recorded transaction
Zoning & alternative use
B1: NEIGHBORHOOD BUSINESS · Chesapeake, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$3.1M
+137.2%
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
$4,750,000
ML approach
$4,765,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$3,110,000
Change: +137% · Conversion: Difficult
Blend value · Realmo final
$4.83M
Range $4.35M – $5.31M · ±10% · vs last sale $4.90M (Jul 5 2023)
Last sale anchor
$4.90M
Jul 5 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
$690 / 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
$8,891
Tax year 2019
Assessed value
$1,154,500
Assessed 2023
Previous assessed
$964,500
+19.7% YoY
Effective rate
0.77%
On assessed value
Assessed land
$457,000
Assessed improvement
$697,500
Land market value
$457,000
Improvement market value
$697,500
Total market value
$1,154,500
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
2007
Heating
HEAT PUMP
Stories
1
Units
1
Total area
7,000 SF
Lot
0.7 ac (30,623 SF)
Zoning code
B1: NEIGHBORHOOD BUSINESS
APN
470000000744
UPID
US87-0836898
Jurisdiction
CHESAPEAKE CITY
Zoning & alternative use
B1: NEIGHBORHOOD BUSINESS · Chesapeake, VA
Zoning B1: NEIGHBORHOOD BUSINESS · permitted uses
B1: NEIGHBORHOOD 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
APARTMENT HOUSE (5+ UNITS)
Est. value
$3.1M
APARTMENT HOUSE (5+ UNITS)
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
2007
Heating
HEAT PUMP
Stories
1
Units
1
Lot
0.7 ac
Current owner
From public records · entity-resolved
Cedar Lakes Investments Associates
Entity
Mailing address
222 CENTRAL PARK AVE STE #1500, VIRGINIA BEACH, VA 23462-3033
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
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 5, 2023
$4,900,000
Cedar Lakes Investments Associates
Cedar Lakes Center LLC
Special Warranty Deed
$4,111,000 · 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.
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