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Property profile & analytics
OFF-MARKET
Estimated value
$6,310,000
Manufacturing properties
900 Asbury Ave, Norfolk, VA 23513-2865
Entity Owned
9-yr Hold
~
Est. High Equity
Property ID
US87-3371389
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
2017
Total area
52,400 SF
Lot
4.88 ac (212,660 SF)
APN
810040
UPID
US87-3371389
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
-
Computerized Imaging Reference Systems, Inc. (CIRS) Medical Supply Store Engineer
-
Sun Nuclear, a Mirion Medical Company Medical Supply Store Engineer
-
Delphinus Engineering Inc. | Marine Engineering Division Engineering Consultant
-
Computerized Imaging Reference Systems (Sun Nuclear) Medical Supply Store Engineer
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$5.28M
Comparable Approach
Comparable
$7.30M
Blend (final)
Blend
$6.31M
Owner & transaction history
Asbury Avenue LLC A Virginia Limite · 9 yrs held
Asbury Avenue LLC A Virginia Limite
since 2017
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$10.3M
+49.2%
Auto repair, garage
$10.1M
+46.4%
Retail stores
$8.6M
+24.7%
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 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
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$5,720,000
6.5%
$5,280,000
7%
$4,905,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$6,920,000
Current use
OFFICE BUILDING
$10,320,000
Change: +49% · Conversion: Difficult
AUTO REPAIR, GARAGE
$10,130,000
Change: +46% · Conversion: Easy
RETAIL STORES
$8,625,000
Change: +25% · Conversion: Moderate
COMMERCIAL (GENERAL)
$6,075,000
Change: -12% · Conversion: Difficult
WAREHOUSE, STORAGE
$5,710,000
Change: -18% · Conversion: Easy
Blend value · Realmo final
$6.31M
Range $5.68M – $6.94M · ±10%
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
$120 / 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 2024Property tax & assessments
Tax year 2024
Tax billed
$82,964
Tax year 2024
Assessed value
$6,637,100
Assessed 2024
Previous assessed
$6,435,000
+3.1% YoY
Effective rate
1.25%
On assessed value
Assessed land
$1,062,900
Assessed improvement
$5,574,200
Land market value
$1,062,900
Improvement market value
$5,574,200
Total market value
$6,637,100
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
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Status
Off-Market
Year built
2017
Heating
FORCED AIR
Cooling
YES
Stories
1
Total area
52,400 SF
Lot
4.88 ac (212,660 SF)
APN
810040
UPID
US87-3371389
Jurisdiction
NORFOLK CITY
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$6.9M
OFFICE BUILDING
Est. value
$10.3M
AUTO REPAIR, GARAGE
Est. value
$10.1M
RETAIL STORES
Est. value
$8.6M
COMMERCIAL (GENERAL)
Est. value
$6.1M
WAREHOUSE, STORAGE
Est. value
$5.7M
INDUSTRIAL (GENERAL) Current
OFFICE BUILDING
AUTO REPAIR, GARAGE
RETAIL STORES
COMMERCIAL (GENERAL)
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
2017
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
4.88 ac
Current owner
From public records · entity-resolved
Asbury Avenue LLC A Virginia Limite
Entity
Mailing address
900 ASBURY AVE, NORFOLK, VA 23513-2865
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 1, 2017
—
Asbury Avenue LLC A Virginia Limite
—
Deed
related
$5,160,000 · Comerica 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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