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Property profile & analytics
FOR LEASE
Office buildings
1081 19Th St Virginia Beach, VA 23451
Individually Owned
16-yr Hold
~
Est. High Equity
Property ID
US87-3898362
For Lease
1 / 2
$7,575,000
1081 19Th St, Virginia Beach, VA 23451
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
1987
Construction
TYPE NOT SPECIFIED
Total area
32,425 SF
Lot
2.13 ac (92,893 SF)
Zoning code
OR
APN
24176653520000
UPID
US87-3898362
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
-
Diamond Resorts International Corporate Office
-
Venture Realty Group Real Estate Agency
-
Diamond Resorts Administration Office Telecommunications Service Tech Support Center
-
Hotels & Resorts in Virginia Beach Vacation Rental Real Estate Agency
-
Fee Simple Legal PLC Consultant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$7.08M
Comparable Approach
Comparable
$9.66M
Blend (final)
Blend
$7.58M
Owner & transaction history
Ramie F Ziesel · 16 yrs held
Ramie F Ziesel
since 2010
4 recorded transactions
Zoning & alternative use
OR · Virginia Beach, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$11.4M
+36.3%
Commercial (general)
$11.1M
+32.5%
Retail stores
$9.4M
+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%
$7,670,000
6.5%
$7,080,000
7%
$6,575,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$8,395,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$11,440,000
Change: +36% · Conversion: Difficult
COMMERCIAL (GENERAL)
$11,120,000
Change: +32% · Conversion: Easy
RETAIL STORES
$9,375,000
Change: +12% · Conversion: Moderate
MEDICAL BUILDING
$7,635,000
Change: -9% · Conversion: Easy
Blend value · Realmo final
$7.58M
Range $6.82M – $8.33M · ±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
$234 / 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
$57,289
Tax year 2024
Assessed value
$5,786,800
Assessed 2024
Previous assessed
$5,786,800
+0.0% YoY
Effective rate
0.99%
On assessed value
Assessed land
$3,293,000
Assessed improvement
$2,493,800
Land market value
$3,293,000
Improvement market value
$2,493,800
Total market value
$5,786,800
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
For Lease
Year built
1987
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
CENTRAL
Stories
3
Total area
32,425 SF
Lot
2.13 ac (92,893 SF)
Zoning code
OR
APN
24176653520000
UPID
US87-3898362
Jurisdiction
VIRGINIA BEACH CITY
Zoning & alternative use
OR · Virginia Beach, VA
Zoning OR · permitted uses
OR · 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
$8.4M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$11.4M
COMMERCIAL (GENERAL)
Est. value
$11.1M
RETAIL STORES
Est. value
$9.4M
MEDICAL BUILDING
Est. value
$7.6M
OFFICE BUILDING Current
NEIGHBORHOOD: SHOPPING CENTER
COMMERCIAL (GENERAL)
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
1987
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
Yes
Stories
3
Lot
2.13 ac
Current owner
From public records · entity-resolved
Ramie F Ziesel
Individual
Mailing address
1081 19TH ST STE #203, VIRGINIA BEACH, VA 23451-5600
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2010
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 28, 2012
—
19th Street LLC
—
Trustees Deed
related
$300,000 · Heritage Bank
Apr 6, 2010
—
Ramie F Ziesel
Ocean Bch Clb LLC
Grant Deed
$10,806 · Ocean Beach Club LLC
Feb 27, 2008
—
19th Street LLC
—
Deed Of Trust
related
$1,800,000 · Gateway Bank & Trust
—
—
19th Street LLC
—
Deed Of Trust
related
$1,639,660 · Heritage Bank
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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