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Property profile & analytics
OFF-MARKET
Estimated value
$505,000
Office buildings
5913 Portsmouth Blvd, Portsmouth, VA 23701-1445
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US87-1099238
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1960
Total area
3,984 SF
Lot
1.59 ac (69,260 SF)
Zoning code
NMU
APN
0619-0250
UPID
US87-1099238
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
-
Hermosa Studios Hair Salon
-
All About You Home Care Services | Portsmouth, Virginia Home Health Care Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$520k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$629k
Blend (final)
Blend
$505k
Owner & transaction history
Elam Organization LLC · 5 yrs held
Elam Organization LLC
since 2020
Last sale
$375,000
4 recorded transactions
Zoning & alternative use
NMU · Portsmouth, 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 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
$595,000
ML approach
$520,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$550,000
Current use
MEDICAL BUILDING
$485,000
Change: -11% · Conversion: Easy
RETAIL STORES
$480,000
Change: -13% · Conversion: Moderate
Blend value · Realmo final
$505k
Range $455k – $556k · ±10% · vs last sale $375k (Jul 28 2020)
Last sale anchor
$375k
Jul 28 2020
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
$127 / 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
$7,138
Tax year 2023
Assessed value
$420,580
Assessed 2023
Previous assessed
$420,580
+0.0% YoY
Effective rate
1.70%
On assessed value
Assessed land
$279,920
Assessed improvement
$140,660
Land market value
$279,920
Improvement market value
$140,660
Total market value
$420,580
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
1960
Heating
CENTRAL
Cooling
YES
Stories
1
Bathrooms
2
Total area
3,984 SF
Lot
1.59 ac (69,260 SF)
Zoning code
NMU
APN
0619-0250
UPID
US87-1099238
Jurisdiction
PORTSMOUTH CITY
Zoning & alternative use
NMU · Portsmouth, VA
Zoning NMU · permitted uses
NMU · Portsmouth, VA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Portsmouth. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$550,000
MEDICAL BUILDING
Est. value
$485,000
RETAIL STORES
Est. value
$480,000
OFFICE BUILDING Current
MEDICAL BUILDING
RETAIL STORES
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
1960
Heating
CENTRAL
Cooling
Yes
Stories
1
Bathrooms
2
Lot
1.59 ac
Current owner
From public records · entity-resolved
Elam Organization LLC
Entity
Mailing address
5913 PORTSMOUTH BLVD, PORTSMOUTH, VA 23701-1445
Ownership since
2020
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
Nov 23, 2021
—
The Elam Organization LLC
—
Deed
related
$495,000 · Townebank
Jul 28, 2020
$375,000
Elam Organization LLC
Garrett Donald A Trust
Grant Deed
$300,000 · Abnb FCU
Sep 30, 2010
—
Garrett,donald A Trust
Garrett,donald A
Quit Claim Deed
related
—
Jul 31, 2008
—
Donald A Garrett
Garrett,dolores Williams
Quit Claim 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.
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