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Property profile & analytics
OFF-MARKET
Estimated value
$2,790,000
Drug stores
6147 Virginia Bch Blvd, Norfolk, VA 23502-2701
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US87-3369412
Property profile
Verified
Property type
Drug stores
Use group
DRUG STORE, PHARMACY
Year built
1999
Total area
11,200 SF
Lot
1.25 ac (54,363 SF)
Zoning code
C-2
APN
1473552
UPID
US87-3369412
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
$2.90M
CAP Approach
CAP
$1.96M
Comparable Approach
Comparable
$2.63M
Blend (final)
Blend
$2.79M
Owner & transaction history
Arp Holdco LLC · 2 yrs held
Arp Holdco LLC
since 2024
Last sale
$2.8M
5 recorded transactions
Zoning & alternative use
C-2 · Norfolk, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$2.2M
+19.6%
Auto repair, garage
$2.2M
+17.4%
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
$2,915,000
ML approach
$2,900,000
CAP Approach
CAP Return
Estimation
6%
$2,120,000
6.5%
$1,955,000
7%
$1,815,000
Alternative Use
Use
Estimation
RETAIL STORES
$1,845,000
Current use
OFFICE BUILDING
$2,205,000
Change: +20% · Conversion: Easy
AUTO REPAIR, GARAGE
$2,165,000
Change: +17% · Conversion: Difficult
Blend value · Realmo final
$2.79M
Range $2.51M – $3.07M · ±10% · vs last sale $2.75M (Jan 17 2025)
Last sale anchor
$2.75M
Jan 17 2025
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
$249 / 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
$23,473
Tax year 2024
Assessed value
$1,877,800
Assessed 2024
Previous assessed
$1,853,900
+1.3% YoY
Effective rate
1.25%
On assessed value
Assessed land
$561,600
Assessed improvement
$1,316,200
Land market value
$561,600
Improvement market value
$1,316,200
Total market value
$1,877,800
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
Drug stores
Use group
DRUG STORE, PHARMACY
Status
Off-Market
Year built
1999
Heating
FORCED AIR
Cooling
YES
Stories
1
Total area
11,200 SF
Lot
1.25 ac (54,363 SF)
Zoning code
C-2
APN
1473552
UPID
US87-3369412
Jurisdiction
NORFOLK CITY
Zoning & alternative use
C-2 · Norfolk, VA
Zoning C-2 · permitted uses
C-2 · 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
RETAIL STORES Current
Est. value
$1.8M
OFFICE BUILDING
Est. value
$2.2M
AUTO REPAIR, GARAGE
Est. value
$2.2M
RETAIL STORES Current
OFFICE BUILDING
AUTO REPAIR, GARAGE
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
1999
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
1.25 ac
Current owner
From public records · entity-resolved
Arp Holdco LLC
Entity
Mailing address
850 OAK GRV AVE, MENLO PARK, CA 94025-4422
Ownership since
2024
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
Jan 10, 2024
$650,000
Arp Holdco LLC
Mk-menlo III Property Owner LLC
Special Warranty Deed
$9,630,000 · Midfirst Bank
Apr 8, 2019
—
Mk-menlo III Peroperty Owner LLC
Mk-menlo II Property Owner LLC
Quit Claim Deed
related
—
Feb 2, 2015
$3,486,500
Mk- Menlo II Property Owner LLC A D
Berwick-norfolk LLC A Wisconsin Lim
Special Warranty Deed
$2,500,000 · Gs Commercial Real Estate LP
Jun 14, 2005
—
Berwick Norfolk LLC
Berwick Properties INC
Deed
—
May 24, 2005
—
Berwick Norfolk LLC
Berwick Properties INC
Deed
$2,735,000 · Delaware Stock Corporation
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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