Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$335,000
Showrooms
5875 Adderley St Norfolk, VA 23502-4601
Entity Owned
9-yr Hold
~
Est. High Equity
Property ID
US87-3398915
Property profile
Verified
Property type
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Year built
1998
Total area
7,500 SF
Lot
0.3 ac (12,998 SF)
Zoning code
I-2
APN
206300
UPID
US87-3398915
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
-
Industrial Alloy Welding General Contractor
-
Custom Railing Solutions General Contractor Renovation Specialist
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$724k
Blend (final)
Blend
$335k
Owner & transaction history
Miro Properties LLC A Virginia Limi · 9 yrs held
Miro Properties LLC A Virginia Limi
since 2017
4 recorded transactions
Zoning & alternative use
I-2 · Norfolk, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Source
Adopted Zoning Ordinance
Top alternative use upside
Industrial (general)
$990,000
+23.8%
Warehouse, storage
$815,000
+2.2%
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 Norfolk submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Norfolk 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
COMMERCIAL (GENERAL)
$800,000
Current use
INDUSTRIAL (GENERAL)
$990,000
Change: +24% · Conversion: Moderate
WAREHOUSE, STORAGE
$815,000
Change: +2% · Conversion: Difficult
Blend value · Realmo final
$335k
Range $302k – $369k · ±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
$45 / 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 2024Property tax & assessments
Tax year 2024
Tax billed
$6,488
Tax year 2024
Assessed value
$519,000
Assessed 2024
Previous assessed
$507,000
+2.4% YoY
Effective rate
1.25%
On assessed value
Assessed land
$67,300
Assessed improvement
$451,700
Land market value
$67,300
Improvement market value
$451,700
Total market value
$519,000
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
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Status
Off-Market
Year built
1998
Heating
SPACE
Cooling
YES
Stories
1
Total area
7,500 SF
Lot
0.3 ac (12,998 SF)
Zoning code
I-2
APN
206300
UPID
US87-3398915
Jurisdiction
NORFOLK CITY
Zoning & alternative use
I-2 · Norfolk, VAZoning I-2 · permitted uses
I-2 · Norfolk, VA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Source
Adopted Zoning Ordinance
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$800,000
INDUSTRIAL (GENERAL)
Est. value
$990,000
WAREHOUSE, STORAGE
Est. value
$815,000
COMMERCIAL (GENERAL) Current
INDUSTRIAL (GENERAL)
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
1998
Heating
SPACE
Cooling
Yes
Stories
1
Lot
0.3 ac
Current owner
From public records · entity-resolved
Miro Properties LLC A Virginia Limi
Entity
Mailing address
6501 CRAGS CSWY, VIRGINIA BEACH, VA 23457-1065
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 19, 2017
$500,000
Miro Properties LLC A Virginia Limi
Adderley Street LLC A Virginia Limi
Warranty Deed
$400,000 · Adderley Street LLC
Nov 30, 2015
—
Adderley Street LLC A Virginia Limi
The Joseph C Addington JR Family Tr
Deed
—
Oct 3, 2007
—
Joseph C Addington III
Joseph C Addington III
Intrafamily Transfer
related
—
Aug 2, 2007
—
Joseph C Addington III
Joseph C Addington III
Gift Deed
related
—
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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 5875 Adderley St?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
