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Property profile & analytics
OFF-MARKET
Estimated value
$1,290,000
Drive through restaurants
636 Grassfield Pkwy Chesapeake, VA 23322-7449
Entity Owned
1-yr Hold
Free & Clear
Property ID
US87-1318754
Property profile
Verified
Property type
Drive through restaurants
Use group
DRIVE-THRU RESTAURANT, FAST FOOD
Year built
2007
Total area
2,988 SF
Lot
1.5 ac (65,384 SF)
Zoning code
B2: GENERAL BUSINESS
APN
460000001660
UPID
US87-1318754
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
-
Wendy's Restaurant Take-out & Catering
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.42M
Blend (final)
Blend
$1.29M
Owner & transaction history
Chesapeake Land Development LLC · 1 yrs held
Chesapeake Land Development LLC
since 2025
Last sale
$1.2M
3 recorded transactions
Zoning & alternative use
B2: GENERAL BUSINESS · 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$1.29M
Range $1.16M – $1.42M · ±10% · vs last sale $1.23M (Dec 26 2024)
Last sale anchor
$1.23M
Dec 26 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
$432 / 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
$17,107
Tax year 2019
Assessed value
$1,774,000
Assessed 2023
Previous assessed
$1,722,400
+3.0% YoY
Effective rate
0.96%
On assessed value
Assessed land
$1,050,700
Assessed improvement
$723,300
Land market value
$1,050,700
Improvement market value
$723,300
Total market value
$1,774,000
Applied tax rate
12.0000
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
Drive through restaurants
Use group
DRIVE-THRU RESTAURANT, FAST FOOD
Status
Off-Market
Year built
2007
Heating
HEAT PUMP
Stories
1
Units
1
Total area
2,988 SF
Lot
1.5 ac (65,384 SF)
Zoning code
B2: GENERAL BUSINESS
APN
460000001660
UPID
US87-1318754
Jurisdiction
CHESAPEAKE CITY
Zoning & alternative use
B2: GENERAL BUSINESS · Chesapeake, VA
Zoning B2: GENERAL BUSINESS · permitted uses
B2: GENERAL BUSINESS · 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
2007
Heating
HEAT PUMP
Stories
1
Units
1
Lot
1.5 ac
Current owner
From public records · entity-resolved
Chesapeake Land Development LLC
Entity
Free & Clear · 1 yrs held
Mailing address
1 DAVE THOMAS BLVD, DUBLIN, OH 43017-5452
Ownership since
2025
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
Mar 26, 2025
—
Chesapeake Land Development LLC
Kuochein Cheng
Deed
related
—
Mar 26, 2025
$1,225,000
Chesapeake Land Development LLC
Yee Ching LLC
Special Warranty Deed
—
Jun 12, 2008
$916,665
Yee Ching LLC
Sun Life Assurance Co
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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