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Property profile & analytics
OFF-MARKET
Estimated value
$4,420,000
Apartment buildings
702 Bellows Way Newport News, VA 23602-9701
Entity Owned
7-yr Hold
Absentee Owner
Property ID
US87-1035198
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1990
Total area
3,050 SF
Lot
13.1 ac (570,636 SF)
Zoning code
R5
APN
132000501
UPID
US87-1035198
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
-
Featherstone Real Estate Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$4.42M
Owner & transaction history
Kiln Crk Apt Assocs LLC · 7 yrs held
Kiln Crk Apt Assocs LLC
since 2019
2 recorded transactions
Zoning & alternative use
R5 · Newport News, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
e data. Fort Eustis JLUS Study Area Fort Eustis City of Newport News Boundary County Boundary York County Zoning EO GB IG IL LB NB PD R7 R13 R20 R33 RMF RR RC WCI YVA Newport News Zoning C1 C2 M1 M2 O1 O2 P1 R1 R2 R3 R4 R5 R6 R7 R8 R9 James City County Zoning B1 LB M1 M2 MU PL R2 R4 R5 R8 L E G E N D ̈§¦64 James River S u r r yS u r r y C o u n t yC o u n t…
Zone name
Low Density Multifamily
General category
RESIDENTIAL
Zone area
1,824.12 ac
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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
$1,449 / 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
$531,826
Tax year 2023
Assessed value
$43,741,000
Assessed 2023
Previous assessed
$43,741,000
+0.0% YoY
Effective rate
1.22%
On assessed value
Assessed land
$5,080,000
Assessed improvement
$38,661,000
Land market value
$5,080,000
Improvement market value
$38,661,000
Total market value
$43,741,000
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
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Status
Off-Market
Year built
1990
Heating
NONE
Units
254
Bathrooms
5
Total area
3,050 SF
Lot
13.1 ac (570,636 SF)
Zoning code
R5
APN
132000501
UPID
US87-1035198
Jurisdiction
NEWPORT NEWS CITY
Zoning & alternative use
R5 · Newport News, VAZoning R5 · permitted uses
R5 · Newport News, VA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
e data. Fort Eustis JLUS Study Area Fort Eustis City of Newport News Boundary County Boundary York County Zoning EO GB IG IL LB NB PD R7 R13 R20 R33 RMF RR RC WCI YVA Newport News Zoning C1 C2 M1 M2 O1 O2 P1 R1 R2 R3 R4 R5 R6 R7 R8 R9 James City County Zoning B1 LB M1 M2 MU PL R2 R4 R5 R8 L E G E N D ̈§¦64 James River S u r r yS u r r y C o u n t yC o u n t y N e w p o r tN e w p o r t N e w sN e w s I s l eI s l e o f o f W i g h tW i g
Zone name
Low Density Multifamily
General category
RESIDENTIAL
Zone area
1,824.12 ac
Building & site characteristics
From public records
Year built
1990
Heating
NONE
Units
254
Bathrooms
5
Lot
13.1 ac
Current owner
From public records · entity-resolved
Kiln Crk Apt Assocs LLC
Entity
Mailing address
560 LYNNHAVEN PKWY, VIRGINIA BEACH, VA 23452-7312
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 31, 2019
—
Kiln Crk Apt Assocs LLC
—
Deed
related
$23,100,000 · Wells Fargo Bk
—
—
Kiln Crk Apt Assocs LLC
—
Loan Modification
related
$23,100,000 · Wells Fargo Bk
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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