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Property profile & analytics
OFF-MARKET
Estimated value
$17,155,000
High-rise multifamily apartments
601 Pembroke Ave Norfolk, VA 23507-2060
Entity Owned
13-yr Hold
Free & Clear
Property ID
US87-3349337
Property profile
Verified
Property type
High-rise multifamily apartments
Use group
HIGH-RISE APARTMENTS
Year built
1962
Total area
184,884 SF
Lot
2.97 ac (129,243 SF)
Zoning code
R-15
APN
34005500
UPID
US87-3349337
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
-
Royal Playbook Gym & Fitness Center Sports Field & Court
-
Pembroke Towers Apartment Homes Real Estate Agency
-
Precise Portions Weight Loss Service Diabetes Center
-
Anita L. Marade, LCSW Foster Care Service Social Service Agency
-
Jay an Yay Labor Perfesionals Construction Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$17.16M
Owner & transaction history
Pembroke Towers LLC · 13 yrs held
Pembroke Towers LLC
since 2012
2 recorded transactions
Zoning & alternative use
R-15 · Norfolk, 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 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
RESTAURANT
$26,635,000
Change: 0% · Conversion: Difficult
AUTO REPAIR, GARAGE
$22,290,000
Change: 0% · Conversion: Difficult
OFFICE BUILDING
$17,510,000
Change: 0% · Conversion: Moderate
RETAIL STORES
$17,435,000
Change: 0% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$16,300,000
Change: 0% · Conversion: Difficult
COMMERCIAL (GENERAL)
$14,835,000
Change: 0% · Conversion: Moderate
MEDICAL BUILDING
$11,595,000
Change: 0% · Conversion: Moderate
Blend value · Realmo final
$17.16M
Range $15.44M – $18.87M · ±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
$93 / 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
$189,220
Tax year 2024
Assessed value
$15,137,600
Assessed 2024
Previous assessed
$14,792,500
+2.3% YoY
Effective rate
1.25%
On assessed value
Assessed land
$3,500,000
Assessed improvement
$11,637,600
Land market value
$3,500,000
Improvement market value
$11,637,600
Total market value
$15,137,600
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
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
High-rise multifamily apartments
Use group
HIGH-RISE APARTMENTS
Status
Off-Market
Year built
1962
Heating
STEAM
Cooling
YES
Stories
12
Units
168
Total area
184,884 SF
Lot
2.97 ac (129,243 SF)
Zoning code
R-15
APN
34005500
UPID
US87-3349337
Jurisdiction
NORFOLK CITY
Zoning & alternative use
R-15 · Norfolk, VA
Zoning R-15 · permitted uses
R-15 · Norfolk, VA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Norfolk. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT
Est. value
$26.6M
AUTO REPAIR, GARAGE
Est. value
$22.3M
OFFICE BUILDING
Est. value
$17.5M
RETAIL STORES
Est. value
$17.4M
INDUSTRIAL (GENERAL)
Est. value
$16.3M
COMMERCIAL (GENERAL)
Est. value
$14.8M
MEDICAL BUILDING
Est. value
$11.6M
RESTAURANT
AUTO REPAIR, GARAGE
OFFICE BUILDING
RETAIL STORES
INDUSTRIAL (GENERAL)
COMMERCIAL (GENERAL)
MEDICAL BUILDING
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
1962
Heating
STEAM
Cooling
Yes
Stories
12
Units
168
Lot
2.97 ac
Current owner
From public records · entity-resolved
Pembroke Towers LLC
Entity
Free & Clear · 13 yrs held
Mailing address
155 E 55TH ST, NEW YORK, NY 10022-4038
Ownership since
2012
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
Jan 3, 2022
—
Pembroke Towers LLC
—
Deed
related
$11,550,000 · Pnc Bank National Association
Dec 28, 2012
—
Pembroke Towers LLC
Pembroke Towers Associates
Deed
—
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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