Entity Owned Property summary
AI-generated overview
The First Colonial Medical Center is located at 1120 First Colonial Road in Virginia Beach, Virginia. The building was constructed in 1970 and is built with a concrete, CMU block, brick, and steel structural system. It contains approximately 22,000 square feet and sits on a rectangular 2.19-acre lot. The site is positioned on a major medical corridor and is located near Sentara Virginia Beach General Hospital, providing frontage/access on the corridor for healthcare-related uses.
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1971
Construction
TYPE NOT SPECIFIED
Total area
22,336 SF
Lot
2.19 ac (95,396 SF)
Zoning code
O2
APN
24085474890000
UPID
US87-0917909
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.77M
Blend (final)
Blend
$2.76M
Owner & transaction history
4 recorded transactions
Zoning & alternative use
O2 · Virginia Beach, VA
Zoning description
The O-2 Office District is intended for larger scale office and institutional structures and uses in areas where public facilities are available and where conflicts with residential neighborhoods can be avoided.
General category
CIVIC_INSTITUTIONAL
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
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Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
Sensitivity value band
Source audit · 6 inputs
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Summary
1
Valuation conclusion
Included free
Estimated market value
$2.76M
Value range
$2.48M – $3.03M
±10% around blend
Estimated value / SF
$123 / SF
Confidence
Property data
100
Market benchmarks
67
Comparable evidence
60
$2.48M
blend $2.76M
$3.03M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
22,336 SF
Lot area
2.19 ac
Year built
1971
Stories
2
APN
24085474890000
Zoning
O2
Assessed value
$2,992,000
Annual tax
$29,621
3
Income approach: direct capitalization
Partial preview
Not enough income data on file for a CAP-approach estimation.
4
Sales comparison
Partial preview
Sales approach indication
$1.77M
Range $827k – $3.34M
Evidence
6 found
Recent peer sales in this city
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$2.76M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
Submarket 25 sales
$235
-48%
County 25 sales
$235
-48%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $123/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Not available
Market rent
Not available
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: replacement-cost inputs are not on file.
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.
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 evidence, saved work and exports.
9-scenario matrix
Market rates by use type
PDF export
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Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$2.99M
Move the market yield to see immediate price impact.
Value / SF
$134
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
5.00%7.00%9.00%
$188k
$3.77M
$2.69M
$2.09M
$209k
$4.19M
$2.99M
$2.33M
$230k
$4.61M
$3.29M
$2.56M
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$29,621
Tax year 2024
Assessed value
$2,992,000
Assessed 2024
Previous assessed
$2,992,000
+0.0% YoY
Effective rate
0.99%
On assessed value
Assessed land
$1,626,600
Assessed improvement
$1,365,400
Land market value
$1,626,600
Improvement market value
$1,365,400
Total market value
$2,992,000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1971
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
CENTRAL
Stories
2
Total area
22,336 SF
Lot
2.19 ac (95,396 SF)
Zoning code
O2
APN
24085474890000
UPID
US87-0917909
Jurisdiction
VIRGINIA BEACH CITY
Zoning & alternative use
O2 · Virginia Beach, VAZoning O2 · permitted uses
O2 · Virginia Beach, VA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Zoning description
The O-2 Office District is intended for larger scale office and institutional structures and uses in areas where public facilities are available and where conflicts with residential neighborhoods can be avoided.
General category
CIVIC_INSTITUTIONAL
Building & site characteristics
From public records
Year built
1971
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
Yes
Stories
2
Lot
2.19 ac
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
O2
CIVIC_INSTITUTIONAL
Jurisdiction
Virginia Beach, VA
Recorded code
O2
Official district
O2
Official district profile
What the municipal code says about O2
Zoning description
The O-2 Office District is intended for larger scale office and institutional structures and uses in areas where public facilities are available and where conflicts with residential neighborhoods can be avoided.
General category
CIVIC_INSTITUTIONAL
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for O2 in Virginia Beach, VA.
What opens after registration
Zoning profile
Official descriptionThe district text from the municipal code
District factsZone name, category and district area
Official documentVerified municipal sources with file download
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
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Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
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Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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