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Property profile & analytics
OFF-MARKET
Estimated value
$1,270,000
Office buildings
1008 Old Virginia Bch Rd Virginia Beach, VA 23451-5564
Entity Owned
22-yr Hold
Free & Clear
Property ID
US87-0815329
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
2002
Construction
FRAME
Total area
6,300 SF
Lot
1 ac (43,560 SF)
Zoning code
O1
APN
24176830520000
UPID
US87-0815329
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
-
Quad Chemical Corporation Pharmacy
-
Kerr Environmental Services Corp. Environmental Consultant
-
Stacy R. Bushey, LCSW Foster Care Service Social Service Agency
-
Pitts Cathy Family Counselor
-
Gardner Katherine Family Counselor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.38M
Comparable Approach
Comparable
$1.50M
Blend (final)
Blend
$1.27M
Owner & transaction history
HALL GROUP LLC
HALL GROUP LLC
Zoning & alternative use
O1 · Virginia Beach, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$1.8M
+11.7%
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 Virginia Beach submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Virginia Beach 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$1,490,000
6.5%
$1,375,000
7%
$1,280,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,630,000
Current use
RETAIL STORES
$1,820,000
Change: +12% · Conversion: Moderate
MEDICAL BUILDING
$1,485,000
Change: -9% · Conversion: Easy
Blend value · Realmo final
$1.27M
Range $1.14M – $1.40M · ±10%
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
$202 / 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
$8,902
Tax year 2024
Assessed value
$899,200
Assessed 2024
Previous assessed
$899,200
+0.0% YoY
Effective rate
0.99%
On assessed value
Assessed land
$390,000
Assessed improvement
$509,200
Land market value
$390,000
Improvement market value
$509,200
Total market value
$899,200
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
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Status
Off-Market
Year built
2002
Construction
FRAME
Heating
NONE
Cooling
CENTRAL
Stories
1
Total area
6,300 SF
Lot
1 ac (43,560 SF)
Zoning code
O1
APN
24176830520000
UPID
US87-0815329
Jurisdiction
VIRGINIA BEACH CITY
Zoning & alternative use
O1 · Virginia Beach, VA
Zoning O1 · permitted uses
O1 · Virginia Beach, VA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Virginia Beach. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$1.6M
RETAIL STORES
Est. value
$1.8M
MEDICAL BUILDING
Est. value
$1.5M
OFFICE BUILDING Current
RETAIL STORES
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
2002
Construction
FRAME
Heating
NONE
Cooling
Yes
Stories
1
Lot
1 ac
Current owner
From public records · entity-resolved
HALL GROUP LLC
Entity
Free & Clear · 0 yrs held
Mailing address
1008 OLD VIRGINIA BCH RD STE #500, VIRGINIA BEACH, VA 23451-5565
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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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