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Property profile & analytics
OFF-MARKET
Estimated value
$2,485,000
Office buildings
801 Water St Portsmouth, VA 23704-3839
Entity Owned
11-yr Hold
Free & Clear
Property ID
US87-0174678
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1979
Construction
HEAVY FRAME
Total area
50,400 SF
Lot
0.27 ac (11,892 SF)
Zoning code
T6
APN
0001-0030
UPID
US87-0174678
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
-
Honorable Joel P Crowe City Government Office
-
Portsmouth Police-Crime Prevention Police Department
-
Law Offices-Kenneth R Melvin Law Firm
-
Strategic Commercial Development Business Management Consultant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.84M
Blend (final)
Blend
$2.49M
Owner & transaction history
City Of Portsmouth · 11 yrs held
City Of Portsmouth
since 2014
4 recorded transactions
Zoning & alternative use
T6 · Portsmouth, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Portsmouth submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Portsmouth 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%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$2.49M
Range $2.24M – $2.73M · ±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
$49 / 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
Assessed value
$1,778,800
Assessed 2023
Previous assessed
$3,124,860
-43.1% YoY
Assessed land
$273,000
Assessed improvement
$1,505,800
Land market value
$273,000
Improvement market value
$1,505,800
Total market value
$1,778,800
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1979
Construction
HEAVY FRAME
Heating
CENTRAL
Cooling
YES
Stories
5
Bathrooms
13
Total area
50,400 SF
Lot
0.27 ac (11,892 SF)
Zoning code
T6
APN
0001-0030
UPID
US87-0174678
Jurisdiction
PORTSMOUTH CITY
Zoning & alternative use
T6 · Portsmouth, VA
Zoning T6 · permitted uses
T6 · Portsmouth, VA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Portsmouth. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1979
Construction
HEAVY FRAME
Heating
CENTRAL
Cooling
Yes
Stories
5
Bathrooms
13
Lot
0.27 ac
Current owner
From public records · entity-resolved
City Of Portsmouth
Entity
Free & Clear · 11 yrs held
Mailing address
801 CRAWFORD ST, PORTSMOUTH, VA 23704-3822
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2014
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 17, 2014
$2,850,000
City Of Portsmouth
Water Street Assocs LLC
Grant Deed
—
Jan 25, 2012
—
LP Hamilton II
—
Deed Of Trust
related
$4,787,252 · Bank Of America
—
—
Water Street Assocs LLC
—
Loan Modification
related
$4,600,000 · Coastal FCU
—
—
LP Hamilton II
—
Deed Of Trust
related
$500,000 · Portsmouth Redev & Hsng Author
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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