Your AI Navigator in Commercial Real Estate
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
    Property profile & analytics

    1008 1st Colonial Rd Virginia Beach, VA 23454-3071

    • Medical offices
    • 5,386 SF
    • 0.50 lot acres
    OFF-MARKET
    Value Estimation
    $1,075,000
    Last Sale
    Feb 27, 2020
    $980,000
    Location Intelligence
    Property ID
    US87-1300678
    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

    • Tammy J. Maloney, FNP / Doctor
    • Johnson Bruce E MD / Internist / Pulmonologist
    • Coastal Virginia Oral and Maxillofacial Surgery / Oral And Maxillofacial Surgeon / Dental Clinic
    • Krishna Thandra / Pulmonologist / Internist
    • Millicent Pyka / General Practitioner / Nurse Practitioner

    Property Details for 1008 1st Colonial Rd

    Year built
    1982
    Construction
    FRAME
    Lot size
    0.50 lot acres
    Property size
    5,386 SF
    Zone code
    O2
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    24086228960000
    APU
    24086228960000

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $1,150,000

    • CAP approach

      CAP return
      Estimation
      6%
      $945,000
      6.5%
      $1,045,000
      7%
      $970,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $905,000
      Geo Method
      $875,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $870,000
      Retail
      $875,000
      Mixed-Use
      $965,000
      Hospitality
      $830,000
      Educational
      $860,000
      Residential Income
      $1,015,000
      Energy
      $1,070,000
      Income-Based Land
      $825,000
      Food Service
      $1,140,000

    Location Insight

    • Map
    • Local Demand
    City
    Virginia Beach
    County
    Virginia Beach City
    State
    Virginia
    Longitude
    -76.027
    Latitude
    36.8623
    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
    2024
    $11,153
    $430,200
    $696,400
    $1,126,600
    -
    $430,200
    $696,400
    $1,126,600

    Comparable in this City

    • Value Estimation by Request
      14,768 SF

      1201 1st Colonial Rd

      MEDICAL BUILDING • 14,768 SF
      1201 1st Colonial Rd, Virginia Beach, VA 23454-2217
      View Details
    • Value Estimation by Request
      11,628 SF

      465 Great Nck Rd

      MEDICAL BUILDING • 11,628 SF
      465 Great Nck Rd, Virginia Beach, VA 23454-4064
      View Details
    • Value Estimation by Request
      13,712 SF

      1708 Old Donation Pkwy

      MEDICAL BUILDING • 13,712 SF
      1708 Old Donation Pkwy, Virginia Beach, VA 23454-3064
      View Details
    • Value Estimation
      $615,000
      1,439 SF

      1819 Colonial Medical Ct

      MEDICAL BUILDING • 1,439 SF
      1819 Colonial Medical Ct, Virginia Beach, VA 23454
      View Details
    • Value Estimation by Request
      10,559 SF

      1037 1st Colonial Rd

      MEDICAL BUILDING • 10,559 SF
      1037 1st Colonial Rd, Virginia Beach, VA 23454-3037
      View Details
    • Value Estimation
      $1,310,000
      5,385 SF

      1004 1st Colonial Rd Ste, Unit 102

      MEDICAL BUILDING • 5,385 SF
      1004 1st Colonial Rd Ste, Virginia Beach, VA 23454-3070
      View Details

    Similar Nearby for Sale

    • $3,400,000
      22,290 SF

      First Colonial Medical Center

      Medical office building near Sentara Virginia Beach General Hospital.
      1120 First Colonial Rd, Virginia Beach, VA 23454
      View Details
    • $640,000
      6,000 SF

      Virginia Beach Office/Flex Space

      Two-story office/flex space in Virginia Beach's Hilltop area.
      105 S First Colonial Rd, Virginia Beach, VA 23454
      View Details
    • $500,000
      3,700 SF

      Versatile Flex Condo with Warehouse

      3,700 SF flex condo with office and warehouse space.
      1728 Virginia Beach Blvd, Virginia Beach, VA 23454
      View Details
    • $1,636,364

      Retail Property For Sale

      Retail property available for purchase in Virginia Beach, VA.
      1896 General Booth Blvd, Virginia Beach, VA 23454
      View Details
    • Contact for pricing

      Virginia Beach Pad Ready Parcel

      Located in a Class A office/flex and research park.
      1741 Corporate Landing Pkwy, Virginia Beach, VA 23454
      View Details
    • $3,500,000
      6,200 SF

      EV Dealership on Virginia Beach Blvd

      Thriving EV dealership with retail, service, and rental operations.
      1765 Virginia Beach Blvd, Virginia Beach, VA 23454
      View Details

    Similar Nearby for Lease

    • $24 SF/Yr
      20,000 SF

      Virginia Beach Medical Office Space

      Class A Medical Office Suites Available
      1232 Perimeter Pkwy, Virginia Beach, VA 23454
      View Details
    • $24,000
      1,000 SF

      Virginia Beach Medical Office Suite

      Prime Medical Office Space for Lease
      1301 First Colonial Rd, Virginia Beach, VA 23454
      View Details
    • $22 SF/Yr
      1,542 SF

      First Colonial Office Park Suites

      Single-story office park with professional and medical suites for rent.
      921 First Colonial Rd, Virginia Beach, VA 23454
      View Details
    • Contact for pricing
      4,200 SF

      Class A Medical Office Space

      Move-in ready medical office near Sentara Virginia Beach General.
      324 Louisa Ave, Virginia Beach, VA 23454
      View Details
    • $30 SF/Yr
      6,505 SF

      Medical Office Space For Rent

      Multi-tenant medical office building near Sentara Virginia Beach General Hospital.
      1101 First Colonial Rd, Virginia Beach, VA 23454
      View Details
    • Contact for pricing
      17,633 SF

      Oceana Blvd Executive Office Space

      Modern Virginia Beach Office Suite, 1273 sqft
      1337 Oceana Blvd, Virginia Beach, VA 23454
      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.
    1008 1st Colonial Rd
    Virginia Beach, VA 23454-3071
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimation

    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.

    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.

    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
    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.