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Property profile & analytics
OFF-MARKET
Estimated value
$8,430,000
Assisted living facilities
1148 1st Colonial Rd Virginia Beach, VA 23454-2426
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US87-0983095
Property profile
Verified
Property type
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Year built
1971
Construction
CONCRETE
Total area
36,896 SF
Lot
2.65 ac (115,476 SF)
Zoning code
O2
APN
24085550710000
UPID
US87-0983095
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
-
Shirley Cutchin Physician
-
Annamary Maynard Physician
-
Angela Rodgers Physician
-
Sotiria Angelopoulos Physician
-
Bay Pointe Rehabilitation and Nursing Nursing Home
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$8.43M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$8.43M
Owner & transaction history
Bay Pointe Propco LLC · 2 yrs held
Bay Pointe Propco LLC
since 2024
Last sale
$8.4M
5 recorded transactions
Zoning & alternative use
O2 · Virginia Beach, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$7.3M
+92.2%
Office building
$5.1M
+34.7%
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
$8,430,000
ML approach
$8,430,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$7,325,000
Change: +92% · Conversion: Difficult
OFFICE BUILDING
$5,135,000
Change: +35% · Conversion: Difficult
Blend value · Realmo final
$8.43M
Range $7.59M – $9.27M · ±10% · vs last sale $8.43M (Mar 25 2024)
Last sale anchor
$8.43M
Mar 25 2024
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
$228 / 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
$60,310
Tax year 2024
Assessed value
$6,091,900
Assessed 2024
Previous assessed
$6,091,900
+0.0% YoY
Effective rate
0.99%
On assessed value
Assessed land
$2,061,300
Assessed improvement
$4,030,600
Land market value
$2,061,300
Improvement market value
$4,030,600
Total market value
$6,091,900
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
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Status
Off-Market
Year built
1971
Construction
CONCRETE
Heating
ELECTRIC
Buildings
2
Stories
2
Total area
36,896 SF
Lot
2.65 ac (115,476 SF)
Zoning code
O2
APN
24085550710000
UPID
US87-0983095
Jurisdiction
VIRGINIA BEACH CITY
Zoning & alternative use
O2 · Virginia Beach, VA
Zoning O2 · permitted uses
O2 · 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
COMMERCIAL (GENERAL)
Est. value
$7.3M
OFFICE BUILDING
Est. value
$5.1M
COMMERCIAL (GENERAL)
OFFICE 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
1971
Construction
CONCRETE
Heating
ELECTRIC
Stories
2
Buildings
2
Lot
2.65 ac
Current owner
From public records · entity-resolved
Bay Pointe Propco LLC
Entity
Mailing address
980 SYLVAN AVE, ENGLEWOOD CLIFFS, NJ 07632-3315
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 25, 2024
$8,431,380
Bay Pointe Propco LLC
Bay Pointe Va Propco LLC
Deed
$220,000,000 · Cibc Bank USA
Jan 20, 2022
—
Bay Pointe Va Propco LLC
—
Deed
related
$508,676,310 · Monticello Funding Bth 56 LLC
Sep 13, 2019
$13,698,300
Bay Pointe Va Propco LLC
Eagle Realty Xiv LLC
Grant Deed
—
Oct 27, 2017
$3,043,200
Knd R & E Escrow Holdings LLC
Ventas Realty LP
Grant Deed
related
—
Oct 27, 2017
$12,370,308
Eagle Realty Xiv LLC
Knd R/e Escrow Holdings LLC
Grant Deed
$125,680,000 · Fifth Third Bk
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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