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Property profile & analytics
OFF-MARKET
Estimated value
$700,000
Industrial properties
803 Industrial Ave Chesapeake, VA 23324-2621
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US87-0136048
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
1968
Total area
8,060 SF
Lot
1.28 ac (55,757 SF)
Zoning code
M1: LIGHT INDUSTRIAL
APN
1231001000050
UPID
US87-0136048
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
-
Chemical Cleaning Hardware & Home Improvement
-
Griffin Securities Financial Advisor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$685k
CAP Approach
CAP
$550k
Comparable Approach
Comparable
$613k
Blend (final)
Blend
$700k
Owner & transaction history
803 Industrial LLC · 3 yrs held
803 Industrial LLC
since 2022
Last sale
$830,000
2 recorded transactions
Zoning & alternative use
M1: LIGHT INDUSTRIAL · Chesapeake, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$1.1M
+20.6%
Warehouse, storage
$1.1M
+15.3%
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 Chesapeake submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Chesapeake 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
$690,000
ML approach
$685,000
CAP Approach
CAP Return
Estimation
6%
$595,000
6.5%
$550,000
7%
$510,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$940,000
Current use
OFFICE BUILDING
$1,130,000
Change: +21% · Conversion: Difficult
WAREHOUSE, STORAGE
$1,080,000
Change: +15% · Conversion: Easy
Blend value · Realmo final
$700k
Range $630k – $770k · ±10% · vs last sale $830k (Nov 23 2022)
Last sale anchor
$830k
Nov 23 2022
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
$87 / 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 2019Property tax & assessments
Tax year 2019
Tax billed
$5,607
Tax year 2019
Assessed value
$787,500
Assessed 2023
Previous assessed
$611,900
+28.7% YoY
Effective rate
0.71%
On assessed value
Assessed land
$192,000
Assessed improvement
$595,500
Land market value
$192,000
Improvement market value
$595,500
Total market value
$787,500
Applied tax rate
31.0000
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
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Status
Off-Market
Year built
1968
Heating
SPACE
Cooling
AC.PACKAGE
Stories
1
Units
1
Total area
8,060 SF
Lot
1.28 ac (55,757 SF)
Zoning code
M1: LIGHT INDUSTRIAL
APN
1231001000050
UPID
US87-0136048
Jurisdiction
CHESAPEAKE CITY
Zoning & alternative use
M1: LIGHT INDUSTRIAL · Chesapeake, VA
Zoning M1: LIGHT INDUSTRIAL · permitted uses
M1: LIGHT INDUSTRIAL · Chesapeake, VA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Chesapeake. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$940,000
OFFICE BUILDING
Est. value
$1.1M
WAREHOUSE, STORAGE
Est. value
$1.1M
INDUSTRIAL (GENERAL) Current
OFFICE BUILDING
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
1968
Heating
SPACE
Cooling
Yes
Stories
1
Units
1
Lot
1.28 ac
Current owner
From public records · entity-resolved
803 Industrial LLC
Entity
Mailing address
624 OBENDORFER RD, CHESAPEAKE, VA 23324-2622
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
Nov 23, 2022
$830,000
803 Industrial LLC
Laugginger Leasing Company LLC
Warranty Deed
—
Jan 13, 2009
$500,000
Laugginger Leasing Co LLC
Richard T Spensieri
Warranty Deed
$475,000 · Private
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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