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Property profile & analytics
OFF-MARKET
Estimated value
$3,010,000
Motels
7940 Shr Dr Norfolk, VA 23518-2441
Entity Owned
4-yr Hold
Free & Clear
Property ID
US87-3365544
Property profile
Verified
Property type
Motels
Use group
MOTEL
Year built
1988
Total area
27,477 SF
Lot
1.81 ac (78,844 SF)
Zoning code
C-2
APN
5835100
UPID
US87-3365544
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
-
Economy 7 Inn Norfolk - Best Hotel in Norfolk, VA Hotel & Motel
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.01M
CAP Approach
CAP
$2.46M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$3.01M
Owner & transaction history
Vijay LLC · 4 yrs held
Vijay LLC
since 2022
Last sale
$3.0M
2 recorded transactions
Zoning & alternative use
C-2 · Norfolk, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Source
Adopted Zoning Ordinance
Top alternative use upside
Office building
$4.5M
+613.1%
Restaurant
$3.7M
+492.6%
Auto repair, garage
$3.7M
+491.4%
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
$3,010,000
ML approach
$3,010,000
CAP Approach
CAP Return
Estimation
6%
$2,660,000
6.5%
$2,455,000
7%
$2,280,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$4,450,000
Change: +613% · Conversion: Difficult
RESTAURANT
$3,695,000
Change: +493% · Conversion: Difficult
AUTO REPAIR, GARAGE
$3,690,000
Change: +491% · Conversion: Difficult
RETAIL STORES
$2,680,000
Change: +330% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$2,420,000
Change: +288% · Conversion: Difficult
COMMERCIAL (GENERAL)
$2,350,000
Change: +277% · Conversion: Difficult
Blend value · Realmo final
$3.01M
Range $2.71M – $3.31M · ±10% · vs last sale $3.01M (Jun 10 2024)
Last sale anchor
$3.01M
Jun 10 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
$110 / 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
$32,758
Tax year 2024
Assessed value
$2,620,600
Assessed 2024
Previous assessed
$2,537,200
+3.3% YoY
Effective rate
1.25%
On assessed value
Assessed land
$1,177,800
Assessed improvement
$1,442,800
Land market value
$1,177,800
Improvement market value
$1,442,800
Total market value
$2,620,600
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
Motels
Use group
MOTEL
Status
Off-Market
Year built
1988
Heating
FORCED AIR
Cooling
YES
Stories
3
Units
76
Total area
27,477 SF
Lot
1.81 ac (78,844 SF)
Zoning code
C-2
APN
5835100
UPID
US87-3365544
Jurisdiction
NORFOLK CITY
Zoning & alternative use
C-2 · Norfolk, VAZoning C-2 · permitted uses
C-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
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING
Est. value
$4.5M
RESTAURANT
Est. value
$3.7M
AUTO REPAIR, GARAGE
Est. value
$3.7M
RETAIL STORES
Est. value
$2.7M
INDUSTRIAL (GENERAL)
Est. value
$2.4M
COMMERCIAL (GENERAL)
Est. value
$2.4M
OFFICE BUILDING
RESTAURANT
AUTO REPAIR, GARAGE
RETAIL STORES
INDUSTRIAL (GENERAL)
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
1988
Heating
FORCED AIR
Cooling
Yes
Stories
3
Units
76
Lot
1.81 ac
Current owner
From public records · entity-resolved
Vijay LLC
Entity
Free & Clear · 4 yrs held
Mailing address
7940 SHR DR STE #410, NORFOLK, VA 23518-2441
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2022
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
Feb 2, 2022
$3,000,000
Vijay LLC
Hari LLC
Warranty Deed
—
Jan 6, 2016
$1,100,000
Hari LLC A Virginia Limited Liabili
Jjc Hotel Corporation A Virginia Co
Warranty Deed
$950,000 · Legence Bank
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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