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Property profile & analytics
OFF-MARKET
Estimated value
$1,600,000
Office buildings
625 Independence Pkwy Chesapeake, VA 23320-5164
Entity Owned
2-yr Hold
Free & Clear
Property ID
US87-2118716
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2017
Total area
7,689 SF
Lot
2.35 ac (102,235 SF)
Zoning code
M1: LIGHT INDUSTRIAL
APN
360000003730
UPID
US87-2118716
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
-
Limitless Church Church
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.60M
CAP Approach
CAP
$1.93M
Comparable Approach
Comparable
$1.44M
Blend (final)
Blend
$1.60M
Owner & transaction history
Jmea Properties LLC · 2 yrs held
Jmea Properties LLC
since 2024
Last sale
$1.6M
7 recorded transactions
Zoning & alternative use
M1: LIGHT INDUSTRIAL · Chesapeake, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$2.1M
+97.5%
Retail stores
$1.4M
+33.0%
Commercial (general)
$1.3M
+18.7%
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
$1,600,000
ML approach
$1,600,000
CAP Approach
CAP Return
Estimation
6%
$2,090,000
6.5%
$1,930,000
7%
$1,795,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,085,000
Current use
AUTO REPAIR, GARAGE
$2,140,000
Change: +97% · Conversion: Difficult
RETAIL STORES
$1,440,000
Change: +33% · Conversion: Moderate
COMMERCIAL (GENERAL)
$1,285,000
Change: +19% · Conversion: Easy
WAREHOUSE, STORAGE
$1,075,000
Change: -1% · Conversion: Difficult
Blend value · Realmo final
$1.60M
Range $1.44M – $1.76M · ±10% · vs last sale $1.60M (May 1 2024)
Last sale anchor
$1.60M
May 1 2024
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
$208 / 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
$17,359
Tax year 2019
Assessed value
$2,480,600
Assessed 2023
Previous assessed
$2,480,600
+0.0% YoY
Effective rate
0.70%
On assessed value
Assessed land
$482,400
Assessed improvement
$1,998,200
Land market value
$482,400
Improvement market value
$1,998,200
Total market value
$2,480,600
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
2017
Heating
PACKAGE
Cooling
AC.PACKAGE
Stories
1
Units
1
Total area
7,689 SF
Lot
2.35 ac (102,235 SF)
Zoning code
M1: LIGHT INDUSTRIAL
APN
360000003730
UPID
US87-2118716
Jurisdiction
CHESAPEAKE CITY
Zoning & alternative use
M1: LIGHT INDUSTRIAL · Chesapeake, VA
Zoning M1: LIGHT INDUSTRIAL · permitted uses
M1: LIGHT INDUSTRIAL · 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.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$1.1M
AUTO REPAIR, GARAGE
Est. value
$2.1M
RETAIL STORES
Est. value
$1.4M
COMMERCIAL (GENERAL)
Est. value
$1.3M
WAREHOUSE, STORAGE
Est. value
$1.1M
OFFICE BUILDING Current
AUTO REPAIR, GARAGE
RETAIL STORES
COMMERCIAL (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
2017
Heating
PACKAGE
Cooling
Yes
Stories
1
Units
1
Lot
2.35 ac
Current owner
From public records · entity-resolved
Jmea Properties LLC
Entity
Free & Clear · 2 yrs held
Mailing address
500 BAYLOR CT STE A, CHESAPEAKE, VA 23320-3675
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
19 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 1, 2024
$1,600,000
Jmea Properties LLC
Steven Laroza
Warranty Deed
—
Mar 19, 2024
$609,832
Frederick Jay Gregory
Steven R Bailey
Trustees Deed
related
—
Nov 1, 2018
—
Steven Christopher Headley
Steve Headley
Intrafamily Transfer
related
—
Dec 2, 2016
$295,185
Piraino Enterprises LLC An Californ
Rockwell Chesapeake LLC A Utah Limi
Special Warranty Deed
—
Dec 2, 2016
$1,000,000
The Robert T Boaks Revocable Trust
Rockwell Chesapeake LLC A Utah Limi
Special Warranty Deed
—
Dec 2, 2016
$570,000
Expo Land Corp A New York Corporati
Rockwell Chesapeake LLC A Utah Limi
Special Warranty Deed
—
Dec 2, 2016
$225,000
Taylor Boaks
Rockwell Chesapeake LLC A Utah Limi
Special Warranty Deed
—
Dec 2, 2016
$200,000
Steven Alan Henry Trust Dated April
Rockwell Chesapeake LLC A Utah Limi
Special Warranty Deed
—
Dec 2, 2016
$150,000
Provident Trust Group LLC
Rockwell Chesapeake LLC A Utah Limi
Special Warranty Deed
—
Dec 2, 2016
$100,000
The Fred Jacobliving Trust Dated Ja
Rockwell Chesapeake LLC A Utah Limi
Special Warranty Deed
—
Nov 29, 2016
$390,167
Frederic Jay Gregory
Rockwell Chesapeake LLC A Utah Limi
Special Warranty Deed
—
Nov 29, 2016
$233,947
Steven Laroza
Rockwell Chesapeake LLC A Utah Limi
Special Warranty Deed
—
Nov 29, 2016
$120,000
Elizabeth W Bradley
Rockwell Chesapeake LLC A Utah Limi
Special Warranty Deed
—
Nov 29, 2016
$150,000
Reg Real Estate & Investments LLC A
Rockwell Chesapeake LLC A Utah Limi
Special Warranty Deed
—
Nov 29, 2016
$225,000
Him Investments LLC An Oklahoma Lim
Rockwell Chesapeake LLC A Utah Limi
Special Warranty Deed
—
Nov 29, 2016
$327,000
Horizon Management LLC A Vermont Li
Rockwell Chesapeake LLC A Utah Limi
Special Warranty Deed
—
Nov 29, 2016
$500,000
Peterson Lake Hill Ranch LP
Rockwell Chesapeake LLC A Utah Limi
Special Warranty Deed
—
Nov 29, 2016
$577,902
Steve Headley
Rockwell Chesapeake LLC A Utah Limi
Special Warranty Deed
—
Jun 15, 2016
$1,000,000
Rockwell Chesapeake LLC A Utah Limi
Interstate Land Lc A Vriginia Limit
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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