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Property profile & analytics
OFF-MARKET
Estimated value
$7,765,000
Hospitals
721 Fairfax Ave Norfolk, VA 23507-2007
Entity Owned
Free & Clear
Property ID
US87-3376157
Property profile
Verified
Property type
Hospitals
Use group
HOSPITAL - PRIVATE
Year built
2004
Total area
269,796 SF
Lot
1.16 ac (50,530 SF)
Zoning code
IN-2
APN
84578900
UPID
US87-3376157
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
-
EVMS Neuropsychology Program Physician Medical Clinic
-
Dr. Jerry L. Nadler, MD Physician
-
Doss William MD Physician
-
Joseph Khristian Han Physician
-
Hayes H Desmond MD Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$7.77M
Owner & transaction history
EASTERN VIRGINIA MEDICAL SCHOOL
EASTERN VIRGINIA MEDICAL SCHOOL
Zoning & alternative use
IN-2 · Norfolk, VA
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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
$29 / 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
$426,036
Tax year 2024
Assessed value
$34,082,900
Assessed 2024
Previous assessed
$33,150,300
+2.8% YoY
Effective rate
1.25%
On assessed value
Assessed land
$1,292,000
Assessed improvement
$32,790,900
Land market value
$1,292,000
Improvement market value
$32,790,900
Total market value
$34,082,900
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
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
Hospitals
Use group
HOSPITAL - PRIVATE
Status
Off-Market
Year built
2004
Heating
FORCED AIR
Cooling
YES
Buildings
3
Stories
6
Total area
269,796 SF
Lot
1.16 ac (50,530 SF)
Zoning code
IN-2
APN
84578900
UPID
US87-3376157
Jurisdiction
NORFOLK CITY
Zoning & alternative use
IN-2 · Norfolk, VAZoning IN-2 · permitted uses
IN-2 · Norfolk, VA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Source
Adopted Zoning Ordinance
Building & site characteristics
From public records
Year built
2004
Heating
FORCED AIR
Cooling
Yes
Stories
6
Buildings
3
Lot
1.16 ac
Current owner
From public records · entity-resolved
EASTERN VIRGINIA MEDICAL SCHOOL
Individual
Free & Clear · 0 yrs held
Mailing address
PO BOX 1980, NORFOLK, VA 23501-1980
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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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