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Property profile & analytics
OFF-MARKET
Estimated value
$1,335,000
Strip malls
9617 Granby St Norfolk, VA 23503-1625
Entity Owned
1-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US87-3350721
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1987
Total area
15,746 SF
Lot
0.57 ac (24,982 SF)
APN
809876
UPID
US87-3350721
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
-
Ocean View Chiropractic Alternative Medicine Practice
-
Dr. Michael Connelly Alternative Medicine Practice
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.36M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.34M
Owner & transaction history
Ocean View Station Shoppes LLC · 1 yrs held
Ocean View Station Shoppes LLC
since 2025
Last sale
$1.3M
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.9M
+175.0%
Office building
$1.5M
+116.1%
Retail stores
$1.5M
+115.1%
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
$1,380,000
ML approach
$1,355,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
AUTO REPAIR, GARAGE
$1,900,000
Change: +175% · Conversion: Difficult
OFFICE BUILDING
$1,490,000
Change: +116% · Conversion: Moderate
RETAIL STORES
$1,485,000
Change: +115% · Conversion: Easy
INDUSTRIAL (GENERAL)
$1,390,000
Change: +101% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,265,000
Change: +83% · Conversion: Easy
MEDICAL BUILDING
$990,000
Change: +43% · Conversion: Difficult
Blend value · Realmo final
$1.34M
Range $1.20M – $1.47M · ±10% · vs last sale $1.30M (Jan 23 2025)
Last sale anchor
$1.30M
Jan 23 2025
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
$85 / 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
$14,169
Tax year 2024
Assessed value
$1,133,500
Assessed 2024
Previous assessed
$1,133,500
+0.0% YoY
Effective rate
1.25%
On assessed value
Assessed land
$349,800
Assessed improvement
$783,700
Land market value
$349,800
Improvement market value
$783,700
Total market value
$1,133,500
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
1987
Heating
FORCED AIR
Cooling
YES
Stories
2
Total area
15,746 SF
Lot
0.57 ac (24,982 SF)
APN
809876
UPID
US87-3350721
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
AUTO REPAIR, GARAGE
Est. value
$1.9M
OFFICE BUILDING
Est. value
$1.5M
RETAIL STORES
Est. value
$1.5M
INDUSTRIAL (GENERAL)
Est. value
$1.4M
COMMERCIAL (GENERAL)
Est. value
$1.3M
MEDICAL BUILDING
Est. value
$990,000
AUTO REPAIR, GARAGE
OFFICE BUILDING
RETAIL STORES
INDUSTRIAL (GENERAL)
COMMERCIAL (GENERAL)
MEDICAL 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
1987
Heating
FORCED AIR
Cooling
Yes
Stories
2
Lot
0.57 ac
Current owner
From public records · entity-resolved
Ocean View Station Shoppes LLC
Entity
Mailing address
9646 GRANBY ST, NORFOLK, VA 23503-1608
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 23, 2025
$1,300,000
Ocean View Station Shoppes LLC
9617 Granby Strip Mall LLC
Special Warranty Deed
$910,000 · Citizens And Farmers Bank
Mar 27, 2020
—
Gloria B Thornton
—
Deed
related
$325,000 · Atlantic Union 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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