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Property profile & analytics
OFF-MARKET
Estimated value
$535,000
Manufacturing properties
6969 Tidewater Dr Norfolk, VA 23509-1628
Entity Owned
1-yr Hold
Free & Clear
Property ID
US87-3369539
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
1937
Total area
4,035 SF
Lot
13.47 ac (586,797 SF)
Zoning code
I-3
APN
32267200
UPID
US87-3369539
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
-
Carroll Trucking Inc. Trucking Company
-
Diamond T Transportation Systems Trucking Company
-
Carroll Distribution Center Warehouse & Storage
-
I Like Men Elementary School High School
-
Norchem Co Trucking Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$465k
CAP Approach
CAP
$405k
Comparable Approach
Comparable
$633k
Blend (final)
Blend
$535k
Owner & transaction history
1155 Pineridge LLC · 1 yrs held
1155 Pineridge LLC
since 2024
Last sale
$585,464
4 recorded transactions
Zoning & alternative use
I-3 · Norfolk, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$795,000
+49.2%
Auto repair, garage
$780,000
+46.4%
Retail stores
$665,000
+24.7%
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 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
$465,000
CAP Approach
CAP Return
Estimation
6%
$440,000
6.5%
$405,000
7%
$380,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$535,000
Current use
OFFICE BUILDING
$795,000
Change: +49% · Conversion: Difficult
AUTO REPAIR, GARAGE
$780,000
Change: +46% · Conversion: Easy
RETAIL STORES
$665,000
Change: +25% · Conversion: Moderate
COMMERCIAL (GENERAL)
$470,000
Change: -12% · Conversion: Difficult
WAREHOUSE, STORAGE
$440,000
Change: -18% · Conversion: Easy
Blend value · Realmo final
$535k
Range $482k – $589k · ±10% · vs last sale $585k (Sep 10 2024)
Last sale anchor
$585k
Sep 10 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
$133 / 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
$64,296
Tax year 2024
Assessed value
$5,143,700
Assessed 2024
Previous assessed
$5,047,900
+1.9% YoY
Effective rate
1.25%
On assessed value
Assessed land
$1,553,600
Assessed improvement
$3,590,100
Land market value
$1,553,600
Improvement market value
$3,590,100
Total market value
$5,143,700
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
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Status
Off-Market
Year built
1937
Heating
FORCED AIR
Cooling
YES
Buildings
12
Stories
1
Total area
4,035 SF
Lot
13.47 ac (586,797 SF)
Zoning code
I-3
APN
32267200
UPID
US87-3369539
Jurisdiction
NORFOLK CITY
Zoning & alternative use
I-3 · Norfolk, VA
Zoning I-3 · permitted uses
I-3 · 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
INDUSTRIAL (GENERAL) Current
Est. value
$535,000
OFFICE BUILDING
Est. value
$795,000
AUTO REPAIR, GARAGE
Est. value
$780,000
RETAIL STORES
Est. value
$665,000
COMMERCIAL (GENERAL)
Est. value
$470,000
WAREHOUSE, STORAGE
Est. value
$440,000
INDUSTRIAL (GENERAL) Current
OFFICE BUILDING
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
1937
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
12
Lot
13.47 ac
Current owner
From public records · entity-resolved
1155 Pineridge LLC
Entity
Free & Clear · 1 yrs held
Mailing address
PO BOX 2491, NORFOLK, VA 23501-2491
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 10, 2024
$585,464
1155 Pineridge LLC
Paul Herbert Peck
Warranty Deed
—
Dec 5, 2024
—
Paul Herbert Peck
6969 Tidewater LLC
Deed
—
Jul 14, 2017
$5,000
6969 Tidewater LLC A Virginia Limit
6969 Twd LLC A Virginia Limited Lia
Special Warranty Deed
$3,500,000 · Langley Federal Credit Union
May 18, 2005
$4,890,000
6969 Twd LLC
Taylor Real Estate INC
Deed
$4,462,507 · Branch Banking & Trust Co Of Virgin
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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