Entity Owned Property summary
AI-generated overview
This exceptional 15,800-square-foot office and warehouse property in Chesapeake County is available for lease. Situated on a one-acre lot, this single-tenant building offers a beautifully appointed 3,200-square-foot office space. The office area features built-in desks and storage cubicles, including eight individual offices, one of which boasts a private bath and shower. A reception area, kitchenette, and conference room add to the functionality. Four bathrooms are conveniently located throughout the building, with one situated in the warehouse area for added convenience. A secure entry vestibule and security system enhance safety and peace of mind. The warehouse itself offers a substantial 12,600 square feet of space with an impressive 18-foot ceiling height, perfect for various storage and operational needs. Three grade-level doors (two 10'x12' and one 12'x14') provide easy access, complemented by a loading dock with a 10'x12' overhead door. The property includes three parking spaces and is equipped with a 400-amp, single-phase electrical meter. The asking lease rate is $12.50 per square foot, NNN. This property presents a unique opportunity for a business seeking a combination of modern office space and ample warehouse capacity in a prime Chesapeake County location. The sale price is $2,950,000.
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1988
Total area
15,800 SF
Lot
1 ac (43,647 SF)
Zoning code
PUD: PLANNED UNIT DEVELOP
APN
373002000060
UPID
US87-3996234
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Warehouse & Storage
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.66M
CAP Approach
CAP
$1.94M
Comparable Approach
Comparable
$2.66M
Blend (final)
Blend
$1.83M
Owner & transaction history
since 2025
Last sale
$2.5M
6 recorded transactions
Zoning & alternative use
PUD: PLANNED UNIT DEVELOP · Chesapeake, VA
Top alternative use upside
Retail stores
$3.0M
+34.0%
Commercial (general)
$2.6M
+19.7%
Office building
$2.2M
+0.8%
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
5 alternative uses screened
Sensitivity value band
Source audit · 6 inputs
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Summary
1
Valuation conclusion
Included free
Estimated market value
$1.83M
Value range
$1.64M – $2.01M
±10% around blend
Estimated value / SF
$116 / SF
Confidence
Property data
100
Market benchmarks
100
Comparable evidence
60
$1.64M
blend $1.83M
$2.01M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
15,800 SF
Lot area
1 ac
Year built
1988
Stories
1
APN
373002000060
Zoning
PUD: PLANNED UNIT DEVELOP
Assessed value
$2,089,700
Annual tax
$14,494
3
Income approach: direct capitalization
Partial preview
Income approach indication
$1.94M
Direct capitalization · @ 6.5% CAP return
@ 6% CAP return
$2.10M
@ 6.5% CAP return
$1.94M
@ 7% CAP return
$1.80M
4
Sales comparison
Partial preview
Sales approach indication
$2.66M
Range $1.48M – $2.88M
Evidence
6 found
Recent peer sales in this city
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$1.83M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
ZIP 32 sales
$140
-17%
Submarket 78 sales
$134
-14%
County 78 sales
$134
-14%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $116/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Retail Stores
Gross theoretical uplift
+34%
vs current-use indication
Commercial (general)
Office Building
Warehouse, Storage · current use
Industrial (general)
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
8
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Modeled
Market rent
Not available
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: income and sales evidence cover the value conclusion.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Market rates by use type
PDF export
Professional Plan · 30 reports
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Overview
Implied cap rate
6.90%
Implied, in-place cap rate for this warehouses
Estimated NOI ÷ last recorded sale. Refine with your own numbers in the full report.
Lower yield / higher price
Higher yield / lower price
5.0%
This property · 6.90%
9.0%
NOI (est.)
$174k *
Last sale · Aug 2024
$2.48M
* derived from a real price signal at a 7% cap
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$2.52M
Move the market yield to see immediate price impact.
Value / SF
$159
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
6.40%6.90%7.40%
$156k
$2.44M
$2.26M
$2.11M
$174k
$2.71M
$2.52M
$2.35M
$191k
$2.98M
$2.77M
$2.58M
NOI sensitivity ±10% across the selected-rate band (±0.5 pp) — derivation of the NOI above.
Property tax & assessments
Tax year 2019Property tax & assessments
Tax year 2019
Tax billed
$14,494
Tax year 2019
Assessed value
$2,089,700
Assessed 2023
Previous assessed
$1,572,200
+32.9% YoY
Effective rate
0.69%
On assessed value
Assessed land
$325,700
Assessed improvement
$1,764,000
Land market value
$325,700
Improvement market value
$1,764,000
Total market value
$2,089,700
Applied tax rate
43.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1988
Heating
HEAT PUMP
Stories
1
Units
1
Total area
15,800 SF
Lot
1 ac (43,647 SF)
Zoning code
PUD: PLANNED UNIT DEVELOP
APN
373002000060
UPID
US87-3996234
Jurisdiction
CHESAPEAKE CITY
Zoning & alternative use
PUD: PLANNED UNIT DEVELOP · Chesapeake, VAZoning PUD: PLANNED UNIT DEVELOP · permitted uses
PUD: PLANNED UNIT DEVELOP · Chesapeake, VA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1988
Heating
HEAT PUMP
Stories
1
Units
1
Lot
1 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
PUD: PLANNED UNIT DEVELOP
Jurisdiction
Chesapeake, VA
Recorded code
PUD: PLANNED UNIT DEVELOP
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for PUD: PLANNED UNIT DEVELOP in Chesapeake, VA.
What opens after registration
Zoning profile
2 official documentsVerified municipal sources with file download
Match provenanceAssignment basis, match tier and confidence
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See the official zoning profile for this address.
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Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
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Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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