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Property profile & analytics
OFF-MARKET
Estimated value
$1,590,000
Industrial properties
701 Jefferson Ave Newport News, VA 23607-6115
Individually Owned
Free & Clear
Property ID
US87-0694489
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
1969
Construction
FRAME
Total area
13,787 SF
Lot
14.65 ac (637,980 SF)
Zoning code
M2
APN
319000101
UPID
US87-0694489
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
by Request
CAP Approach
CAP
$1.40M
Comparable Approach
Comparable
$1.90M
Blend (final)
Blend
$1.59M
Owner & transaction history
Rdm Corporatin Of Suffolk
Rdm Corporatin Of Suffolk
since 2025
7 recorded transactions
Zoning & alternative use
M2 · Newport News, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.6M
+21.3%
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 Newport News submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Newport News 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%
$1,515,000
6.5%
$1,400,000
7%
$1,300,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$1,315,000
Current use
COMMERCIAL (GENERAL)
$1,595,000
Change: +21% · Conversion: Difficult
Blend value · Realmo final
$1.59M
Range $1.43M – $1.75M · ±10%
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
$115 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$53,886
Tax year 2023
Assessed value
$8,848,900
Assessed 2023
Previous assessed
$9,183,400
-3.6% YoY
Effective rate
0.61%
On assessed value
Assessed land
$4,566,800
Assessed improvement
$4,282,100
Land market value
$4,566,800
Improvement market value
$4,282,100
Total market value
$8,848,900
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
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Status
Off-Market
Year built
1969
Construction
FRAME
Heating
FORCED AIR
Buildings
6
Stories
1
Rooms
4
Total area
13,787 SF
Lot
14.65 ac (637,980 SF)
Zoning code
M2
APN
319000101
UPID
US87-0694489
Jurisdiction
NEWPORT NEWS CITY
Zoning & alternative use
M2 · Newport News, VA
Zoning M2 · permitted uses
M2 · Newport News, VA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Newport News. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$1.3M
COMMERCIAL (GENERAL)
Est. value
$1.6M
INDUSTRIAL (GENERAL) Current
COMMERCIAL (GENERAL)
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
1969
Construction
FRAME
Heating
FORCED AIR
Stories
1
Buildings
6
Rooms
4
Lot
14.65 ac
Current owner
From public records · entity-resolved
Rdm Corporatin Of Suffolk
Individual
Free & Clear · 0 yrs held
Mailing address
2400 WASHINGTON AVE, NEWPORT NEWS, VA 23607-4301
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
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 12, 2025
—
Rdm Corporatin Of Suffolk
City Of Newport News
Deed
—
Nov 3, 2022
$43,000
Wanchese Fish Company INC
Blue Harvest Marine Services LLC
Quit Claim Deed
related
—
Nov 3, 2022
—
Wanchese Fish Company INC
Blue Harvest Marine Services LLC
Quit Claim Deed
related
—
Jan 11, 2022
—
Best Quality Seafood LLC
—
Deed
related
$200,000 · 3rd Party Individual
Mar 17, 2020
$275,000
Rdm Corp Of Suffolk
James R Casey
Quit Claim Deed
related
—
Jul 24, 2015
$62,900
Blue Harvest Marine Svcs LLC
Peabody LLC
Quit Claim Deed
related
—
Jul 24, 2015
$34,100
Blue Harvest Marine Svcs LLC
Peabody LLC
Quit Claim Deed
related
—
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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