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Property profile & analytics
OFF-MARKET
Estimated value
$2,455,000
Drive through restaurants
1010 Independence Blvd Virginia Beach, VA 23455-5503
Entity Owned
5-yr Hold
Free & Clear
Property ID
US87-1102127
Property profile
Verified
Property type
Drive through restaurants
Use group
DRIVE-THRU RESTAURANT, FAST FOOD
Year built
1996
Construction
FRAME
Total area
2,745 SF
Lot
0.81 ac (35,236 SF)
Zoning code
B2
APN
14785507890000
UPID
US87-1102127
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.97M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.55M
Blend (final)
Blend
$2.46M
Owner & transaction history
Cook Out Virginia Beach INC · 5 yrs held
Cook Out Virginia Beach INC
since 2021
Last sale
$2.4M
7 recorded transactions
Zoning & alternative use
B2 · Virginia Beach, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.9M
+57.1%
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 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
$2,885,000
ML approach
$2,965,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
AUTO REPAIR, GARAGE
$1,945,000
Change: +57% · Conversion: Difficult
Blend value · Realmo final
$2.46M
Range $2.21M – $2.70M · ±10% · vs last sale $2.44M (Jul 2 2021)
Last sale anchor
$2.44M
Jul 2 2021
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
$894 / 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
$12,964
Tax year 2024
Assessed value
$1,309,500
Assessed 2024
Previous assessed
$1,309,500
+0.0% YoY
Effective rate
0.99%
On assessed value
Assessed land
$880,900
Assessed improvement
$428,600
Land market value
$880,900
Improvement market value
$428,600
Total market value
$1,309,500
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
Drive through restaurants
Use group
DRIVE-THRU RESTAURANT, FAST FOOD
Status
Off-Market
Year built
1996
Construction
FRAME
Heating
NONE
Cooling
CENTRAL
Stories
1
Total area
2,745 SF
Lot
0.81 ac (35,236 SF)
Zoning code
B2
APN
14785507890000
UPID
US87-1102127
Jurisdiction
VIRGINIA BEACH CITY
Zoning & alternative use
B2 · Virginia Beach, VA
Zoning B2 · permitted uses
B2 · 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
AUTO REPAIR, GARAGE
Est. value
$1.9M
AUTO REPAIR, GARAGE
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
1996
Construction
FRAME
Heating
NONE
Cooling
Yes
Stories
1
Lot
0.81 ac
Current owner
From public records · entity-resolved
Cook Out Virginia Beach INC
Entity
Free & Clear · 5 yrs held
Mailing address
PO BOX 698, THOMASVILLE, NC 27361-0698
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 2, 2021
$2,443,000
Cook Out Virginia Beach INC
Cabrillo Mobile Lodge LLC
Bargain And Sale Deed
—
Jan 6, 2020
—
Cabrillo Mobile Lodge LLC
—
Deed
related
$370,000 · Keypoint Cu
Oct 4, 2012
$1,536,500
Cabrillo Mobile Lodge LLC
White Jeffrey M Living Trust
Warranty Deed
—
May 10, 2011
$1,445,000
White Jeffrey M Living Trust
Marker Trust
Warranty Deed
—
—
—
Fqsr LLC
—
Loan Modification
related
$81,000,000 · Wells Fargo Bank
—
—
Fqsr LLC
—
Loan Modification
related
$81,000,000 · Wells Fargo Bank
—
—
Cabrillo Mobile Lodge LLC
—
Deed Of Trust
related
$370,000 · Keypoint Cu
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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