Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    847 45th St Norfolk, VA 23508-2007
    Back to Search
    Property profile & analytics

    847 45th St, Norfolk, VA 23508-2007

    View on Map
    • Warehouses
    • 13,375 SF
    • 0.34 lot acres
    Off-Market
    Property ID
    US87-3355597
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $930,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • KWAT Enterprises Corporation / Building Supply / Electrical Service

    Property Details for 847 45th St

    Year built
    1948
    Lot size
    0.34 lot acres
    Zone code
    I-2
    Property type
    Warehouses
    APN
    720500
    APU
    720500

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Sep 15, 2017 — 847 W45th LLC — Deed · related $411k · Branch Banking & Trust Company
    Aug 7, 2017 — 847 W45th LLC A Virginia Limited Li Kenneth W Tomosovich Deed —
    Aug 28, 2007 — Kenneth W Tomosovich Kenneth W Tomosovich Correction Deed · related —
    Apr 6, 2007 — Kenneth W Tomosovich Kenneth W Tomosovich Intrafamily Transfer · related —

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,057,000
      Market price range: $1.06M - $2.25M
      AI Estimate
      $664,000
      Market price range: $465k - $1.92M

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $1,455,000
      Current use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Norfolk
    County
    Norfolk City
    State
    Virginia
    Longitude
    -76.2971
    Latitude
    36.8848
    CBSA code
    47260
    CBSA name
    VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $5,948
    $225,000
    $250,800
    $475,800
    -
    $225,000
    $250,800
    $475,800

    Comparable in this City

    • Value Estimation
      $1,180,000
      12,688 SF

      828 40th St

      WAREHOUSE, STORAGE
      828 40th St, Norfolk, VA 23508
      View Details
    • Value Estimation by Request
      2,548 SF

      822 40th St

      WAREHOUSE, STORAGE
      822 40th St, Norfolk, VA 23508-2514
      View Details
    • Value Estimation
      $1,260,000
      17,547 SF

      1447 27th St

      WAREHOUSE, STORAGE
      1447 27th St, Norfolk, VA 23508-2360
      View Details
    • Value Estimation by Request
      2,406 SF

      837 44th St

      WAREHOUSE, STORAGE
      837 44th St, Norfolk, VA 23508-2005
      View Details
    • Value Estimation by Request
      1,500 SF

      838 45th St

      WAREHOUSE, STORAGE
      838 45th St, Norfolk, VA 23508-2008
      View Details
    • Value Estimation by Request
      2,992 SF

      4004 Killam Ave

      WAREHOUSE, STORAGE
      4004 Killam Ave, Norfolk, VA 23508
      View Details

    Similar Nearby for Sale

    • $850,000
      12,620 SF

      Versatile Commercial Building Near ODU

      Expansive commercial building with office space, bay doors, and parking.
      860 45Th St, Norfolk, VA 23508
      View Details
    • Contact for pricing
      943 SF

      Turnkey Restaurant Space Near Ghent

      Renovated restaurant space ideal for various food-service concepts.
      813 W 39Th St, Norfolk, VA 23508
      View Details
    • $1,600,000
      3,810 SF

      Waterfront Quad Multifamily Investment Opportunity

      Unique waterfront quad with dock, ideal for investors/owner-occupants.
      765 48Th St, Norfolk, VA 23508
      View Details
    • $469,000
      3,000 SF

      Well-Maintained Duplex Near Waterfront

      Duplex near amenities with updated features and no flood insurance.
      624 Georgia Ave, Norfolk, VA 23508
      View Details
    • $49,900

      Buildable Lot in Norfolk, VA

      Buildable commercial land for sale in Norfolk, Virginia.
      116 W 38Th St, Norfolk, VA 23508
      View Details
    • $1,200,000

      Historic Norfolk Building For Sale

      31,645 SF historic landmark building in desirable Ghent Corridor.
      303 W 34Th St, Norfolk, VA 23508
      View Details

    Similar Nearby for Lease

    • New
      Contact for pricing

      Air-Conditioned Warehouse with Yard

      Air-conditioned and heated warehouse with fenced private yard, multiple garage doors, offices, and recent roof replacement.
      861 46Th St, Norfolk, VA 23508
      View Details
    • Contact for pricing

      VA, Norfolk - 25th St.

      Workspaces, services and support to help you work better in VA, Norfolk - 25th St.
      1225 25Th St, Norfolk, VA 23508
      View Details
    • Contact for pricing
      1,515 SF

      Modern Office Space Near ODU

      State-of-the-art office space in Innovation Research Park.
      4111 Monarch Way, Norfolk, VA 23508
      View Details
    • Contact for pricing

      Office Space For Rent

      Second floor office space available for lease.
      4200 Colley Ave, Norfolk, VA 23508
      View Details
    • Contact for pricing
      2,203 SF

      Retail Space in Norfolk, VA

      Retail space available for rent in Norfolk, Virginia.
      2401 Hampton Blvd, Norfolk, VA 23508
      View Details
    • Contact for pricing
      1,400 SF

      Retail Space in Norfolk, VA

      Retail space available in up-and-coming Norfolk location.
      2501 Hampton Blvd, Norfolk, VA 23508
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    847 45th St
    Norfolk, VA 23508-2007
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    847 45th St, Norfolk, VA, 23508
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!