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Property profile & analytics
OFF-MARKET
Estimated value
$1,800,000
Showrooms
716 Cecelia St, Norfolk, VA 23504
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US87-3374043
Property summary
AI-generated overview
This exceptional 2,000 square foot flex space, located at 716 Cecelia St in Norfolk, Virginia, 23504, presents a unique opportunity for businesses seeking a versatile and functional workspace. The property boasts a flexible layout suitable for a variety of uses, encompassing both office and light industrial applications. The building comprises a single suite encompassing the entire 2,000 square feet, currently available for lease. The property sits on a 0.25-acre lot and includes a significant advantage: a fully fenced parking area, providing ample and secure parking for tenants and their clients. The zoning designation is I-L (Light Industrial), allowing for a broad range of permitted activities. This prime location in Norfolk offers easy access to major transportation routes and amenities, making it an ideal choice for businesses seeking a convenient and well-equipped space. The property is ready for immediate occupancy, offering a blank canvas for businesses to customize their workspace to meet their specific needs. Interested parties are encouraged to inquire further to explore this exceptional opportunity.
Property profile
Verified
Property type
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Year built
1951
Total area
11,318 SF
Lot
0.27 ac (11,600 SF)
Zoning code
I-1
APN
43558900
UPID
US87-3374043
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
-
Aplus Inc Trucking Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.80M
CAP Approach
CAP
$1.84M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.80M
Owner & transaction history
Yoderville South LLC · 2 yrs held
Yoderville South LLC
since 2024
Last sale
$1.8M
1 recorded transaction
Zoning & alternative use
I-1 · Norfolk, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$2.2M
+69.8%
Auto repair, garage
$2.2M
+66.7%
Retail stores
$1.9M
+42.0%
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
$1,800,000
ML approach
$1,800,000
CAP Approach
CAP Return
Estimation
6%
$1,995,000
6.5%
$1,840,000
7%
$1,710,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$1,315,000
Current use
OFFICE BUILDING
$2,230,000
Change: +70% · Conversion: Easy
AUTO REPAIR, GARAGE
$2,190,000
Change: +67% · Conversion: Difficult
RETAIL STORES
$1,865,000
Change: +42% · Conversion: Easy
INDUSTRIAL (GENERAL)
$1,495,000
Change: +14% · Conversion: Moderate
WAREHOUSE, STORAGE
$1,235,000
Change: -6% · Conversion: Difficult
Blend value · Realmo final
$1.80M
Range $1.62M – $1.98M · ±10% · vs last sale $1.80M (Feb 28 2024)
Last sale anchor
$1.80M
Feb 28 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
$159 / 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
$2,838
Tax year 2024
Assessed value
$227,000
Assessed 2024
Previous assessed
$222,800
+1.9% YoY
Effective rate
1.25%
On assessed value
Assessed land
$77,600
Assessed improvement
$149,400
Land market value
$77,600
Improvement market value
$149,400
Total market value
$227,000
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
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Status
Off-Market
Year built
1951
Heating
FORCED AIR
Cooling
YES
Stories
1
Total area
11,318 SF
Lot
0.27 ac (11,600 SF)
Zoning code
I-1
APN
43558900
UPID
US87-3374043
Jurisdiction
NORFOLK CITY
Zoning & alternative use
I-1 · Norfolk, VA
Zoning I-1 · permitted uses
I-1 · 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
COMMERCIAL (GENERAL) Current
Est. value
$1.3M
OFFICE BUILDING
Est. value
$2.2M
AUTO REPAIR, GARAGE
Est. value
$2.2M
RETAIL STORES
Est. value
$1.9M
INDUSTRIAL (GENERAL)
Est. value
$1.5M
WAREHOUSE, STORAGE
Est. value
$1.2M
COMMERCIAL (GENERAL) Current
OFFICE BUILDING
AUTO REPAIR, GARAGE
RETAIL STORES
INDUSTRIAL (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
1951
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
0.27 ac
Current owner
From public records · entity-resolved
Yoderville South LLC
Entity
Mailing address
6310 GRAVEL AVE, ALEXANDRIA, VA 22310-3218
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
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 28, 2024
$1,800,000
Yoderville South LLC
Rjr Elite Trucking INC
Special Warranty Deed
$1,440,000 · Fulton Bank NA
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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