700 Frederick Blvd Portsmouth, VA 23707-3314
Entity Owned
Free & Clear
Estimated value (blended)
$2.23M
Range $2.01M – $2.45M (±10%)
Property ID
US87-0907102
Property profile
Verified
Property type
Drug stores
Use group
DRUG STORE, PHARMACY
Year built
1998
Construction
BRICK
Total area
13,793 SF
Lot
1.68 ac (73,137 SF)
Zoning code
GMU
APN
0300-0320
UPID
US87-0907102
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
(Bike/Boat/Book/etc) Store
-
Pharmacy
-
Atm
-
Atm
-
Cinema (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.80M
Comparable Approach
Comparable
$2.18M
Blend (final)
Blend
$2.23M
Owner & transaction history
Zoning & alternative use
GMU · Portsmouth, VA
Zoning description
Window signs located in the NMU, GMU, IN, and WF districts; and if consistent with applicable adopted design standards, window signs located in the MU-H district Signs oriented toward the interior of and intended to be v…
General category
MIXED_USE
Top alternative use upside
Office building
$1.9M
+14.9%
Medical building
$1.7M
+2.0%
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
17% off on annual
Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
All 3 comparables with addresses
3 alternative uses screened
Sensitivity value band
Source audit · 10 inputs
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Summary
1
Valuation conclusion
Included free
Estimated market value
$2.23M
Value range
$2.01M – $2.45M
±10% around blend
Estimated value / SF
$162 / SF
Confidence
Low
3 county-verified comps
Property data
88
Market benchmarks
67
Comparable evidence
30
$2.01M
blend $2.23M
$2.45M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
13,793 SF
Lot area
1.68 ac
Year built
1998
Stories
1
APN
0300-0320
Assessed value
$4,086,910
Annual tax
$56,097
3
Income approach: direct capitalization
Partial preview
Income approach indication
$2.80M
Direct capitalization · @ 6.5% CAP return
@ 6% CAP return
$3.04M
@ 6.5% CAP return
$2.80M
@ 7% CAP return
$2.60M
4
Sales comparison
Partial preview
Sales approach indication
$3.39M
Weighted, 3 comps · low confidence
Evidence
3 found · 3 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
20.3 mi away · 11,204 SF
23.7 mi away · 11,196 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$2.23M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
Submarket 34 sales
$120
+35%
County 34 sales
$120
+35%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $162/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Office Building
Gross theoretical uplift
+15%
vs current-use indication
Medical Building
Retail Stores · current use
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
8
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
Not available
Operating expenses
Not available
Market rent
Not available
Actual rent roll
Not available
Tenant leases
Not available
Physical condition
Not inspected
Conversion costs
Not available
Not analyzed due to unavailable source data: tenant leases, physical condition and capital
requirements were not available for this desktop analysis. Cost Approach excluded due to
availability of income evidence.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
17% off on annual
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 3 sales
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$4.09M
Move the market yield to see immediate price impact.
Value / SF
$296
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.00%7.00%9.00%
$257k
$5.15M
$3.68M
$2.86M
$286k
$5.72M
$4.09M
$3.18M
$315k
$6.29M
$4.50M
$3.50M
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
3 found
Low confidence · county-verified
Closest comparable
$2.70M
5.9 mi · Mar 2026 · $239/SF
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$56,097
Tax year 2023
Assessed value
$4,086,910
Assessed 2023
Previous assessed
$4,086,910
+0.0% YoY
Effective rate
1.37%
On assessed value
Assessed land
$1,286,910
Assessed improvement
$2,800,000
Land market value
$1,286,910
Improvement market value
$2,800,000
Total market value
$4,086,910
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Drug stores
Use group
DRUG STORE, PHARMACY
Status
Off-Market
Year built
1998
Construction
BRICK
Heating
CENTRAL
Cooling
YES
Stories
1
Bathrooms
2
Total area
13,793 SF
Lot
1.68 ac (73,137 SF)
Zoning code
GMU
APN
0300-0320
UPID
US87-0907102
Jurisdiction
PORTSMOUTH CITY
Zoning & alternative use
GMU · Portsmouth, VAZoning GMU · permitted uses
GMU · Portsmouth, VA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Zoning description
Window signs located in the NMU, GMU, IN, and WF districts; and if consistent with applicable adopted design standards, window signs located in the MU-H district Signs oriented toward the interior of and intended to be v…
General category
MIXED_USE
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1998
Construction
BRICK
Heating
CENTRAL
Cooling
Yes
Stories
1
Bathrooms
2
Lot
1.68 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
Matched to the official district catalog
GMU
MIXED_USE
Jurisdiction
Portsmouth, VA
Recorded code
GMU
Official district
GMU
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for GMU in Portsmouth, VA.
What opens after registration
Zoning profile
Official descriptionThe district text from the municipal code
District factsZone name, category and district area
2 official documentsVerified municipal sources with file download
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
Registration is required before the official district profile is shown.
One complete report on every paid plan · 5 · 30 · 100 reports per month.
Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
One complete report on every paid plan · 5 · 30 · 100 reports per month.
Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 700 Frederick Blvd?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
Full reports are paid
Unlock the full Property Analytics report
Pick a plan to open full owner contacts, all 4 valuations with methodology, the refine flow, comparable adjustments, the foot-traffic deep dive and PDF / CSV export. Cancel anytime.
