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Property profile & analytics
OFF-MARKET
Estimated value
$1,420,000
Office buildings
804 Professional W Pl Chesapeake, VA 23320-3600
Entity Owned
4-yr Hold
Free & Clear
Property ID
US87-0715163
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1988
Total area
11,976 SF
Lot
2.38 ac (103,760 SF)
Zoning code
PUD: PLANNED UNIT DEVELOP
APN
373002000540
UPID
US87-0715163
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
-
ECS Mid-Atlantic LLC Engineering Consultant Environmental Engineer
-
ECS Mid-Atlantic, LLC - Virginia Beach Engineering Consultant Engineer
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.46M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.40M
Blend (final)
Blend
$1.42M
Owner & transaction history
Ellipsis 804 LLC · 4 yrs held
Ellipsis 804 LLC
since 2021
Last sale
$1.4M
5 recorded transactions
Zoning & alternative use
PUD: PLANNED UNIT DEVELOP · Chesapeake, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$2.2M
+33.0%
Commercial (general)
$2.0M
+18.7%
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
$1,470,000
ML approach
$1,460,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,685,000
Current use
RETAIL STORES
$2,245,000
Change: +33% · Conversion: Moderate
COMMERCIAL (GENERAL)
$2,005,000
Change: +19% · Conversion: Easy
WAREHOUSE, STORAGE
$1,675,000
Change: -1% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$1,395,000
Change: -17% · Conversion: Difficult
Blend value · Realmo final
$1.42M
Range $1.28M – $1.56M · ±10% · vs last sale $1.38M (Sep 28 2021)
Last sale anchor
$1.38M
Sep 28 2021
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
$119 / 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
$13,410
Tax year 2019
Assessed value
$1,520,800
Assessed 2023
Previous assessed
$1,589,700
-4.3% YoY
Effective rate
0.88%
On assessed value
Assessed land
$537,000
Assessed improvement
$983,800
Land market value
$537,000
Improvement market value
$983,800
Total market value
$1,520,800
Applied tax rate
43.0000
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1988
Heating
HEAT PUMP
Stories
1
Units
1
Total area
11,976 SF
Lot
2.38 ac (103,760 SF)
Zoning code
PUD: PLANNED UNIT DEVELOP
APN
373002000540
UPID
US87-0715163
Jurisdiction
CHESAPEAKE CITY
Zoning & alternative use
PUD: PLANNED UNIT DEVELOP · Chesapeake, VA
Zoning PUD: PLANNED UNIT DEVELOP · permitted uses
PUD: PLANNED UNIT DEVELOP · 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
OFFICE BUILDING Current
Est. value
$1.7M
RETAIL STORES
Est. value
$2.2M
COMMERCIAL (GENERAL)
Est. value
$2.0M
WAREHOUSE, STORAGE
Est. value
$1.7M
INDUSTRIAL (GENERAL)
Est. value
$1.4M
OFFICE BUILDING Current
RETAIL STORES
COMMERCIAL (GENERAL)
WAREHOUSE, STORAGE
INDUSTRIAL (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
HEAT PUMP
Stories
1
Units
1
Lot
2.38 ac
Current owner
From public records · entity-resolved
Ellipsis 804 LLC
Entity
Free & Clear · 4 yrs held
Mailing address
125 86TH ST, VIRGINIA BEACH, VA 23451-1817
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 2, 2022
—
Ellipsis 804 LLC
—
Deed
related
$1,296,000 · Langley Federal Credit Union
Sep 28, 2021
$1,381,000
Ellipsis 804 LLC
Pro804 LP
Warranty Deed
—
Jul 14, 2010
$800,000
Pro804 L P
Monarch Bank
Special Warranty Deed
—
Apr 8, 2010
$761,620
Monarch Bank
Wbs Realty/chesapeake LLC
Special Warranty Deed
—
Feb 7, 2007
$450,000
W B S Realty Chesapeake
Greenbrier Partners
Special Warranty Deed
$700,000 · Monarch 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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