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Property profile & analytics
FOR SALE
Retail properties & Spaces
817-833 High St Portsmouth, VA 23704
Entity Owned
Free & Clear
Property ID
US87-0422274
For Sale
1 / 4
$950,000
817-833 High St, Portsmouth, VA 23704
View Listing →
Property profile
Verified
Property type
Retail properties & Spaces
Use group
DEPARTMENT STORE
Year built
1946
Construction
BRICK
Total area
4,800 SF
Lot
0.18 ac (7,841 SF)
Zoning code
T5
APN
0049-0130
UPID
US87-0422274
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$975k
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$835k
Owner & transaction history
Economic Developement Authority Of
Economic Developement Authority Of
since 2025
Last sale
$800,000
5 recorded transactions
Zoning & alternative use
T5 · Portsmouth, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$585,000
+2.0%
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%
$1,055,000
6.5%
$975,000
7%
$905,000
Alternative Use
Use
Estimation
RETAIL STORES
$575,000
Current use
MEDICAL BUILDING
$585,000
Change: +2% · Conversion: Difficult
OFFICE BUILDING
$505,000
Change: -12% · Conversion: Easy
Blend value · Realmo final
$835k
Range $752k – $919k · ±10% · vs last sale $800k (Jun 1 2021)
Last sale anchor
$800k
Jun 1 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
$174 / 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
Tax billed
$2,967
Tax year 2023
Assessed value
$201,800
Assessed 2023
Previous assessed
$201,800
+0.0% YoY
Effective rate
1.47%
On assessed value
Assessed land
$82,910
Assessed improvement
$118,890
Land market value
$82,910
Improvement market value
$118,890
Total market value
$201,800
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
Retail properties & Spaces
Use group
DEPARTMENT STORE
Status
For Sale
Year built
1946
Construction
BRICK
Heating
HOT WATER
Cooling
YES
Stories
1
Bathrooms
2
Total area
4,800 SF
Lot
0.18 ac (7,841 SF)
Zoning code
T5
APN
0049-0130
UPID
US87-0422274
Jurisdiction
PORTSMOUTH CITY
Zoning & alternative use
T5 · Portsmouth, VA
Zoning T5 · permitted uses
T5 · 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.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$575,000
MEDICAL BUILDING
Est. value
$585,000
OFFICE BUILDING
Est. value
$505,000
RETAIL STORES Current
MEDICAL BUILDING
OFFICE BUILDING
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
1946
Construction
BRICK
Heating
HOT WATER
Cooling
Yes
Stories
1
Bathrooms
2
Lot
0.18 ac
Current owner
From public records · entity-resolved
Economic Developement Authority Of
Entity
Free & Clear · 0 yrs held
Mailing address
1040 UNIVERSITY BLVD, PORTSMOUTH, VA 23703-2650
Ownership since
2025
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
Dec 30, 2025
$900,000
Economic Developement Authority Of
Simis Holdings LLC
Bargain & Sale Deed
—
Oct 2, 2023
—
Simis Holdings LLC
—
Deed
related
$400,000 · 3rd Party Individual
Mar 20, 2023
—
Simis Holdings LLC
—
Deed
related
$720,000 · Dollar Bank Federal Savings Bank
Jun 1, 2021
$800,000
Simis Holdings LLC
Meyers & Tabakin INC
Warranty Deed
—
—
—
Mayers & Tabakin INC
—
Deed Of Trust
related
$792,000 · Towne 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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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