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FOR LEASE
Office buildings
Property ID
US87-0093537
Entity Owned Owner of record is a legal entity (LLC / corporation).
1-yr Hold Held for 1 years.
Absentee Owner Owner mailing address differs from the property address.
Free & Clear No active or open recorded mortgage detected.
Entity Owned 
For Lease
1 / 4
$21.50 SF/Yr
500 Viking Dr, Virginia Beach, VA 23452
View Listing
Ownership intelligence
Who controls the opportunity?
Owner of record from public deeds, plus portfolio, hold profile and investor signals where the data supports them. Included with a plan.
Owner contacts
Can we reach the decision maker?
Skip-traced phones and e-mails of the owner. Included with a plan.
Debts
What is owed, to whom, and when it comes due
Recorded lenders, amounts and estimated maturities of the owner's loan book — included with a plan.
Property tax · 2024
What does the county charge?
$55k
Tax billed · 2024
Assessed value$5.58M
Assessed land$489k
Assessed improvement$5.09M
Effective rate0.99%
Value estimate
· Oct 2026$2.02M
$1.82M – $2.22M
AI approach$1.87M
Submarket $/SF estimate$2.43M
NOI build-up
Gross scheduled income$553k
Vacancy & credit loss−$100k
Operating expenses−$113k
NOI · 1,581,720.93% cap applied$340k
Realmo valuation models over county records and 3 qualifying comparable sales.
Recently sold
What actually traded nearby?
$143/SF
ZIP average, outlier-cleaned · 37 recorded sales of this use type
Observed band · Q1–Q3$120 – $189
Qualifying comparables3
Cap rate analysis
How does the asset earn?
1,581,720.93%
$340k estimated NOI · market benchmarks for this use type
Price anchors at 6 / 6.5 / 7% — in the full report.
Zoning insight
What can be built here?
I1
The purpose of the I-1 Light Industrial District is to permit light industrial uses, wholesaling, storage, packaging, distribution, and r...
General categoryINDUSTRIAL
JurisdictionVIRGINIA BEACH CITY
Location intelligence
Which uses thrive at this corner?
Best fit: Hotel & Motel
Demand heat for this use is drawn on the map · LocInt grid
Demand index
Hotel & Motel12.7
Parking Facility12.2
Food Market12.1
Demand index: how under-served this business type is around this point — modeled from the LocInt grid (area demand vs. what already operates, adjusted by real visit traffic). Higher means stronger unmet demand.
Location
✓ County assessor
✓ Recorded deeds · 5 transfers
✓ 3 qualifying comp sales
✓ Zoning catalog
Every figure names its source: public record, benchmark, or modeled. Coverage varies by property — thin data is stated as missing, never invented.
Comparables
6 recorded sales · 17 properties nearbyRecent sales nearby
6 recorded sales in this ZIP, last 8 years
Address
Sale price
Sold
Size
Sale prices and dates as our records hold them, one row per building. A deed can cover more of a building than the size shown, so read the price against the size rather than dividing one by the other.
Comparable nearby
6 properties of the same type nearby
Comparable nearby
Similar Nearby for Sale
Similar Nearby for Lease
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.
Full NOI build-up · 6 steps
All 3 comparables with addresses
2 alternative uses screened
Sensitivity value band
Source audit · 6 inputs
PDF export
Professional plan · 30 reports
from $199/month
from $199/month
Summary
1
Valuation conclusion
Included free
Estimated market value
$2.02M
Value range
$1.82M – $2.22M
±10% around blend
Estimated value / SF
$157 / SF
Confidence
Low
3 county-verified comps
Property data
100
Market benchmarks
100
Comparable sales
30
Income certainty
100
$1.82M
blend $2.02M
$2.22M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
- GBA
- 12,872 SF
- Lot area
- 8.83 ac
- Year built
- 1993
- Stories
- 1
- APN
- 14975047080000
- Zoning
- I1
- Assessed value · 2024
- $5,578,900
- Annual tax · 2024
- $55,231
3
Income approach: direct capitalization
Partial preview
Estimated Stabilized NOI, derived from market rent, vacancy and expense benchmarks. Actual property income not reported.
- Estimated market rent / SF
- Potential gross income
- Vacancy allowance
- Effective gross income
- Benchmark operating expenses
- Stabilized NOI
- Property tax · 2024
- $55,231
- Selected cap rate
4
Comparable sales
Partial preview
Comparables picked and weighted for this valuation. The Overview tab lists recorded sales nearby as our records hold them, unweighted and unselected, so the two do not have to agree.
Sales approach indication
$1.67M
Weighted, 3 comps · low confidence
Evidence
3 found · 3 selected
County-verified recorded sales
Comparable
Sale date
Sale price
$ / SF
9.1 mi away · 9,991 SF
11.6 mi away · 11,700 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$2.02M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)
Average
Subject delta
ZIP 37 sales
$143
+9%
Submarket 161 sales
$184
-15%
County 161 sales
$184
-15%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $157/SF.
Delta below average reads as headroom.
Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Medical Building
Gross theoretical uplift
+64%
vs current use, $1.85M
- Industrial (general)
- Office Building · current use
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
8
Methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Modeled
Market rent
Market benchmark
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.
How Realmo checks its estimates
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 sales, saved work and exports.
9-scenario matrix
Comparable sales · 3
NOI build-up · 9 steps
Market rates by use type
PDF export
Professional plan · 30 reports
from $199/month
from $199/month
Overview
Selected market yield
9.60%
Selected cap rate for this office buildings
Derived from the Virginia Beach market rent, vacancy and expense benchmarks for this use type.
Lower yield / higher price
Higher yield / lower price
5.0%
This property · 9.60%
9.0%
NOI (est.)
$340k *
Last sale · Jun 2023
$1.99M
* 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$3.54M
Move the market yield to see immediate price impact.
Value / SF
$275
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
9.10%9.60%10.10%
$306k
$3.36M
$3.19M
$3.03M
$340k
$3.74M
$3.54M
$3.37M
$374k
$4.11M
$3.90M
$3.70M
NOI sensitivity ±10% across the selected-rate band (±0.5 pp) — derivation of the NOI above.
Comparable sales
Partial preview
Qualifying comparables
3 found
Low confidence · county-verified
Closest comparable
$1.90M
6.7 mi · Feb 2026 · $133/SF
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Building & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Status
For Lease
Year built
1993
Construction
TYPE NOT SPECIFIED
Heating
ELECTRIC
Buildings
2
Stories
1
Total area
12,872 SF
Lot
8.83 ac (384,548 SF)
Zoning code
I1
INDUSTRIAL
APN
14975047080000
UPID
US87-0093537
Jurisdiction
VIRGINIA BEACH CITY
Property tax & assessments
Tax year 2024
Tax billed
$55,231
Assessed value
$5,578,900
Assessed 2024
Previous assessed
$5,578,900
+0.0% YoY
Effective rate
0.99%
On assessed value
Assessed land
$489,400
Assessed improvement
$5,089,500
Land market value
$489,400
Improvement market value
$5,089,500
Total market value
$5,578,900
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
Matched to the official district catalog
Jurisdiction
Virginia Beach, VA
Zoning code
I1
Category
INDUSTRIAL
Codes and permitted uses for this address
Registration is required before the official district profile is shown.
Official district profile
What the municipal code says about I1
Zoning description
The purpose of the I-1 Light Industrial District is to permit light industrial uses, wholesaling, storage, packaging, distribution, and retailing restricted primarily to operations requiring bulk deliveries by truck or v…
General category
INDUSTRIAL
Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and any signals we can model, to help you decide who to contact next.
What opens after registration
Ownership intelligence
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties we can resolve, with estimated value
Deal signalsSell-side activity where we detect it
Debt & historyRecorded loans and transaction history
Included with every plan
See the ownership record for this address.
Registration is required before any owner information is shown.
Every paid plan opens ownership intelligence on every property.
Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
Owner Contacts
Phones and e-mails of the people behind this property's owner, traced from licensed contact data.
Owner phones and e-mails come with a plan - traced from licensed contact data, with verification and Do-Not-Call flags on every number.
Debts · part of Ownership Intelligence
See what the owner owes, and when it comes due.
The mortgage data comes with a plan: recorded loans of the owner - lender, amount, rate and the estimated maturity - as part of the Ownership Intelligence workspace.
What opens after registration
Ownership intelligence
Recorded loansLender, amount and origination for every instrument
Estimated maturityWhen the debt comes due and the refi window opens
Rates & liensRecorded or estimated rate, junior liens flagged
CollateralWhich holding secures each loan - this property marked
Included with every plan
See the ownership record for this address.
Registration is required before any owner information is shown.
Every paid plan opens ownership intelligence on every property.
Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
Unlock Property Insights and Get Targeted Leads
Choose membership plan that works for you.
1-day Trial
Try for $1
Trial Includes
- 10 Targeted Leads
- 1 Full Property Report
Property reports include
if available
- Lead Lists by Intent
- Signals & Scores
- Building Details
- Value Estimation
- Cap Rate Evaluation
- Liens & Mortgages
- Ownership & Contacts
- Local Market trends
-
Zoning Insight— not in this plan -
Location Analytics— not in this plan
Professional plan
$199
/mo
Membership includes
- 300 Targeted Leads a month
- 30 Full Property Reports
Property reports include
if available
- Lead Lists by Intent
- Signals & Scores
- Building Details
- Value Estimation
- Cap Rate Evaluation
- Liens & Mortgages
- Ownership & Contacts
- Local Market trends
- Zoning Insight
-
Location Analytics— not in this plan
Enterprise plan
$499
/mo
Membership includes
- 1,500 Targeted Leads a month
- 150 Full Property Reports
Property reports include
if available
- Lead Lists by Intent
- Signals & Scores
- Building Details
- Value Estimation
- Cap Rate Evaluation
- Liens & Mortgages
- Ownership & Contacts
- Local Market trends
- Zoning Insight
- Location Analytics
Confirm your e-mail to get the report
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Acquiring
Sample leads
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Off Market
35 CARSON LOOP NW, CARTERSVILLE, GA 30121-4429
Held 10 yrs
35 CARSON LOOP NW, CARTERSVILLE, GA 30121-4429
-
Off Market
3605 JOHNSTON ST, LAFAYETTE, LA 70503-3803
Tax delinquent
3605 JOHNSTON ST, LAFAYETTE, LA 70503-3803
-
Off Market
15222 MAGNOLIA BLVD, SHERMAN OAKS, CA 91403-1158
Held 21 yrs
15222 MAGNOLIA BLVD, SHERMAN OAKS, CA 91403-1158
-
Off Market
6502 JOLIET RD STE D, COUNTRYSIDE, IL 60525-4613
Held 19 yrsAbsentee
6502 JOLIET RD STE D, COUNTRYSIDE, IL 60525-4613
Refinance
Sample leads
-
Off Market
8505 S SEPULVEDA BLVD, LOS ANGELES, CA 90045
Loan from 20028.0% rateFirst American Savings Bank
8505 S SEPULVEDA BLVD, LOS ANGELES, CA 90045
-
Off Market
FAYETTEVILLE, NC 28303
Loan from 2013New Century Bank
FAYETTEVILLE, NC 28303
-
Off Market
4026 BRAGG BLVD, FAYETTEVILLE, NC 28303
Loan from 2013New Century Bank
4026 BRAGG BLVD, FAYETTEVILLE, NC 28303
-
Off Market
BRAGG BLVD, FAYETTEVILLE, NC 28303
Loan from 20049.0% rateNew Century Bank Fayetteville
BRAGG BLVD, FAYETTEVILLE, NC 28303
Leads for service soon
Still being built. It lands here next, beside the two above.
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