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Property profile & analytics
OFF-MARKET
Strip malls
871 Military Hwy Norfolk, VA 23502-3600
Entity Owned
11-yr Hold
~
Est. High Equity
Property ID
US87-3355471
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1978
Total area
5,760 SF
Lot
1.12 ac (48,918 SF)
Zoning code
C-2
APN
438200
UPID
US87-3355471
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
-
FreeStylez Hair Salon Hair Salon
-
Braids Xpert Hair Salon Nail Salon
-
H.E.A.T. CLOTHING Clothing Store
-
T&B'S Cuisine Soul of Jamaica Restaurant
-
Wood Pusher Theater & Performing Art Venue
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Omar Development LLC A Virginia Lim · 11 yrs held
Omar Development LLC A Virginia Lim
since 2014
2 recorded transactions
Zoning & alternative use
C-2 · Norfolk, 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 Norfolk submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Norfolk 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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 2024Property tax & assessments
Tax year 2024
Tax billed
$10,815
Tax year 2024
Assessed value
$865,200
Assessed 2024
Previous assessed
$865,200
+0.0% YoY
Effective rate
1.25%
On assessed value
Assessed land
$553,600
Assessed improvement
$311,600
Land market value
$553,600
Improvement market value
$311,600
Total market value
$865,200
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1978
Heating
FORCED AIR
Cooling
YES
Stories
1
Total area
5,760 SF
Lot
1.12 ac (48,918 SF)
Zoning code
C-2
APN
438200
UPID
US87-3355471
Jurisdiction
NORFOLK CITY
Zoning & alternative use
C-2 · Norfolk, VA
Zoning C-2 · permitted uses
C-2 · Norfolk, VA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Norfolk. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1978
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
1.12 ac
Current owner
From public records · entity-resolved
Omar Development LLC A Virginia Lim
Entity
Mailing address
5636 POPLAR HALL DR, NORFOLK, VA 23502-4452
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
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 23, 2025
—
Omar Development LLC
—
Deed
related
$350,000 · Dollar Bank Federal Savings Bank
Aug 7, 2014
$596,000
Omar Development LLC A Virginia Lim
Dunam 7 LLC A Virginia Limited Liab
Warranty Deed
$596,000 · Branch Banking & Trust Company
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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