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Property profile & analytics
FOR SALE
Industrial properties
1140 Loretta Ln Virginia Beach, VA 23451
Entity Owned
8-yr Hold
~
Est. High Equity
Property ID
US87-0661553
For Sale
1 / 2
$2,250,000
1140 Loretta Ln, Virginia Beach, VA 23451
View Listing →
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
2018
Total area
4,950 SF
Lot
2.3 ac (100,300 SF)
Zoning code
B2
APN
24174543430000
UPID
US87-0661553
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
by Request
CAP Approach
CAP
$500k
Comparable Approach
Comparable
$673k
Blend (final)
Blend
$680k
Owner & transaction history
1140 Loretta Lane LLC · 8 yrs held
1140 Loretta Lane LLC
since 2018
7 recorded transactions
Zoning & alternative use
B2 · Virginia Beach, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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%
$540,000
6.5%
$500,000
7%
$465,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$750,000
Current use
WAREHOUSE, STORAGE
$710,000
Change: -6% · Conversion: Easy
Blend value · Realmo final
$680k
Range $612k – $748k · ±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
$137 / 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
$10,280
Tax year 2024
Assessed value
$1,059,800
Assessed 2024
Previous assessed
$1,059,800
+0.0% YoY
Effective rate
0.97%
On assessed value
Assessed land
$230,000
Assessed improvement
$829,800
Land market value
$230,000
Improvement market value
$829,800
Total market value
$1,059,800
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
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Status
For Sale
Year built
2018
Heating
YES
Cooling
CENTRAL
Buildings
2
Stories
1
Total area
4,950 SF
Lot
2.3 ac (100,300 SF)
Zoning code
B2
APN
24174543430000
UPID
US87-0661553
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
INDUSTRIAL (GENERAL) Current
Est. value
$750,000
WAREHOUSE, STORAGE
Est. value
$710,000
INDUSTRIAL (GENERAL) Current
WAREHOUSE, STORAGE
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
2018
Heating
YES
Cooling
Yes
Stories
1
Buildings
2
Lot
2.3 ac
Current owner
From public records · entity-resolved
1140 Loretta Lane LLC
Entity
Mailing address
1148 LORETTA LN, VIRGINIA BEACH, VA 23451-5715
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 18, 2022
—
1140 Loretta Lane LLC
—
Deed
related
$1,180,000 · Atlantic Union Bank
Apr 24, 2019
—
1140 Loretta Lane LLC
—
Trustees Deed
related
$300,000 · Fulton Bk NA
Mar 13, 2018
—
1140 Loretta Lane LLC
940 Laskin Rd LLC
Grant Deed
related
$760,000 · Fulton Bk NA
Mar 4, 2011
$235,000
940 Laskin Road LLC
Fah & Jcc LLC
Grant Deed
$193,000 · Abnb FCU
Feb 10, 2010
$25,000
Fah & Jcc LLC
Richardson John W
Trustees Deed
—
Aug 4, 2006
$180,100
Loretta Lane LLC
R P Hanna Contractor INC
Grant Deed
$141,000 · Community Bank NA
—
—
Kimberly Powell
—
Deed Of Trust
related
$100,000 · William Yearick
—
—
Loretta Lane LLC
—
Deed Of Trust
related
$25,000 · F A Haycox Construction Co INC
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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