Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    Bromay St Chesapeake, VA 23321

    • Manufacturing properties
    • 320 SF
    • 10.02 lot acres
    OFF-MARKET
    Last Sale
    Jul 02, 2021
    $2,591,200
    Value Estimations
    $2,760,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US87-0764050
    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.

    Current Use by Public Records

    • Manufacturing properties

    Property Details for Bromay St

    Year built
    2018
    Lot size
    10.02 lot acres
    Property size
    320 SF
    Zone code
    M1: LIGHT INDUSTRIAL
    Property type
    Manufacturing properties
    APN
    90000000883
    APU
    90000000883

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,760,000
      ML approach
      $3,005,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Chesapeake
    County
    Chesapeake City
    State
    Virginia
    Longitude
    -76.4417
    Latitude
    36.8389
    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
    2019
    $7,939
    $676,300
    $93,100
    $769,400
    -
    $676,300
    $93,100
    $769,400

    Comparable in this City

    • Value Estimation
      $280,000
      2,412 SF

      5006 Portsmouth Blvd

      MANUFACTURING (LIGHT) • 2,412 SF
      5006 Portsmouth Blvd, Chesapeake, VA 23321-1426
      View Details
    • Value Estimation
      $820,000
      25,420 SF

      808 Curtis Saunders Ct

      MANUFACTURING (LIGHT) • 25,420 SF
      808 Curtis Saunders Ct, Chesapeake, VA 23321-2901
      View Details
    • Value Estimation
      $420,000
      2,440 SF

      5415 Military Hwy

      DISTRIBUTION WAREHOUSE • 2,440 SF
      5415 Military Hwy, Chesapeake, VA 23321-1017
      View Details
    • Value Estimation
      $335,000
      3,160 SF

      3965 Military Hwy

      WAREHOUSE, STORAGE • 3,160 SF
      3965 Military Hwy, Chesapeake, VA 23321-2914
      View Details
    • Value Estimation
      $825,000
      88,535 SF

      4105 Military Hwy

      DISTRIBUTION WAREHOUSE • 88,535 SF
      4105 Military Hwy, Chesapeake, VA 23321-2701
      View Details
    • Value Estimation
      $790,000
      119,232 SF

      4620 Bruce Rd

      MINI-WAREHOUSE, STORAGE • 119,232 SF
      4620 Bruce Rd, Chesapeake, VA 23321-4271
      View Details

    Similar Nearby for Sale

    • $170,000

      Land in Western Branch District

      Land suitable for building a dream home or tranquil retreat.
      4700 Elizabeth Harbor Dr, Chesapeake, VA 23321
      View Details
    • $79,900
      0.53 Acres

      Buildable Lot in Chesapeake, VA

      Half-acre-plus buildable lot in Chesapeake, Virginia.
      14 Truitt Rd, Chesapeake, VA 23321
      View Details
    • $800,000
      1.58 Acres

      Chesapeake Commercial Land - $800K

      1.58 Acres, High-Traffic Location
      4829 Portsmouth Blvd, Chesapeake, VA 23321
      View Details
    • $199,000
      0.64 Acres

      Commercial Land Near Airline Boulevard

      0.7 acre commercial lot near Airline Boulevard in Chesapeake.
      4136 Airline Blvd, Chesapeake, VA 23321
      View Details
    • New
      $250,000
      6.00 Acres

      6 Acres to Build Dream Home

      6 acre lot in Chesapeake, build your dream home!
      4809 Sondej Ave, Chesapeake, VA 23321
      View Details
    • $79,990
      0.02 Acres

      Chesapeake Office Condo For Sale

      Own Your Office Space in Churchland
      3802 Poplar Hill Rd, Chesapeake, VA 23321
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      8,500 SF

      Secured Chesapeake Storage and Shop

      Flexible storage and shop space in Chesapeake, Virginia.
      4713 W Military Hwy, Chesapeake, VA 23321
      View Details
    • Contact for pricing
      2,400 SF

      Dunedin Shops: Retail Spaces Available

      Two retail suites, prime location. Ideal for startups.
      3587 Forest Haven Ln, Chesapeake, VA 23321
      View Details
    • Contact for pricing
      660 SF

      Retail Space in Chesapeake, VA

      Retail space available for lease in Chesapeake, Virginia.
      3580-3591 Forest Haven Ln, Chesapeake, VA 23321
      View Details
    • Contact for pricing

      Land Parcel For Lease

      Land parcel available for lease near Food Lion.
      4005 Raintree Rd, Chesapeake, VA 23321
      View Details
    • $900 /Mo
      871 SF

      Chesapeake Office Suite For Lease

      Versatile office suite in Chesapeake, ideal for small businesses.
      3808 Poplar Hl Rd Unit, Chesapeake, VA 23321
      View Details
    • Contact for pricing
      185,322 SF

      Prime Chesapeake Executive Office Space

      Spacious suites, ample parking, high visibility.
      4300 Portsmouth Blvd, Chesapeake, VA 23321
      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.
    Bromay St
    Chesapeake, VA 23321
    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

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.