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Property profile & analytics
OFF-MARKET
Estimated value
$10,550,000
Apartment buildings
616 Bettes Way C Chesapeake, VA 23320-6972
Entity Owned
4-yr Hold
Absentee Owner
Free & Clear
Property ID
US87-0859830
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
2003
Total area
54,756 SF
Lot
8.68 ac (377,970 SF)
Zoning code
O-I: OFFICE & INSTITUTION
APN
360000002020
UPID
US87-0859830
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
$10.93M
CAP Approach
CAP
$8.58M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$10.55M
Owner & transaction history
Lca Cgb LP · 4 yrs held
Lca Cgb LP
since 2021
Last sale
$10.2M
3 recorded transactions
Zoning & alternative use
O-I: OFFICE & INSTITUTION · Chesapeake, 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 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
$10,865,000
ML approach
$10,925,000
CAP Approach
CAP Return
Estimation
6%
$9,290,000
6.5%
$8,575,000
7%
$7,965,000
Blend value · Realmo final
$10.55M
Range $9.50M – $11.61M · ±10% · vs last sale $10.20M (Nov 17 2021)
Last sale anchor
$10.20M
Nov 17 2021
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
$193 / 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
$58,090
Tax year 2019
Assessed value
$8,845,200
Assessed 2023
Previous assessed
$9,332,700
-5.2% YoY
Effective rate
0.66%
On assessed value
Assessed land
$2,603,100
Assessed improvement
$6,242,100
Land market value
$2,603,100
Improvement market value
$6,242,100
Total market value
$8,845,200
Applied tax rate
42.0000
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
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Status
Off-Market
Year built
2003
Heating
HEAT PUMP
Stories
20
Units
1
Total area
54,756 SF
Lot
8.68 ac (377,970 SF)
Zoning code
O-I: OFFICE & INSTITUTION
APN
360000002020
UPID
US87-0859830
Jurisdiction
CHESAPEAKE CITY
Zoning & alternative use
O-I: OFFICE & INSTITUTION · Chesapeake, VA
Zoning O-I: OFFICE & INSTITUTION · permitted uses
O-I: OFFICE & INSTITUTION · 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.
Building & site characteristics
From public records
Year built
2003
Heating
HEAT PUMP
Stories
20
Units
1
Lot
8.68 ac
Current owner
From public records · entity-resolved
Lca Cgb LP
Entity
Free & Clear · 4 yrs held
Mailing address
30 S WACKER DR STE #2750, CHICAGO, IL 60606-7533
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 8, 2026
—
Lca Cgb LP
—
Deed
related
$47,700,000 · Jill Real Estate Capital LLC
Jun 30, 2025
—
Lca Cgb LP
—
Deed
related
$40,029 · Deutsche Bank
Nov 17, 2021
$10,200,000
Lca Cgb LP
Ccb LP
Special Warranty 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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