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Property profile & analytics
OFF-MARKET
Estimated value
$745,000
Industrial properties
1168 Jensen Dr Virginia Beach, VA 23451-5872
Individually Owned
16-yr Hold
Absentee Owner
Free & Clear
Property ID
US87-1057710
Property summary
AI-generated overview
This exceptional 7,740 square foot multi-tenant property, located at 1168 Jensen Dr in Virginia Beach, VA 23451, presents a unique investment opportunity. The Owls Creek Commerce Center boasts a spacious 5,060 square feet of immediately available office and warehouse space. The building features a desirable combination of executive office and warehouse space, perfect for a variety of businesses. The high ceilings, measuring 17 feet, provide ample vertical space for storage or specialized equipment. The property is situated on a half-acre lot and benefits from three-phase power, making it suitable for businesses with significant energy demands. The zoning designation is I-1, APZ – 1 HUB & Opportunity Zone Virginia Beach, offering potential tax advantages. This versatile space is ideal for companies seeking a blend of modern office amenities and substantial warehouse capacity. The property's location in Virginia Beach offers easy access to major transportation routes and a thriving business community. Contact us today to schedule a viewing and explore the possibilities.
Property profile
Verified
Property type
Industrial properties
Use group
CONDOMINIUMS (INDUSTRIAL)
Year built
1998
Construction
TYPE NOT SPECIFIED
Total area
7,696 SF
Lot
0.5 ac (21,649 SF)
Zoning code
I1
APN
24174343000015
UPID
US87-1057710
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
$775k
Comparable Approach
Comparable
$935k
Blend (final)
Blend
$745k
Owner & transaction history
Pamela A Horn · 16 yrs held
Pamela A Horn
since 2010
2 recorded transactions
Zoning & alternative use
I1 · 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%
$840,000
6.5%
$775,000
7%
$720,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$1,165,000
Current use
Blend value · Realmo final
$745k
Range $671k – $820k · ±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
$97 / 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
$5,263
Tax year 2024
Assessed value
$542,600
Assessed 2024
Previous assessed
$542,600
+0.0% YoY
Effective rate
0.97%
On assessed value
Assessed land
$155,600
Assessed improvement
$387,000
Land market value
$155,600
Improvement market value
$387,000
Total market value
$542,600
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
CONDOMINIUMS (INDUSTRIAL)
Status
Off-Market
Year built
1998
Construction
TYPE NOT SPECIFIED
Heating
YES
Stories
1
Total area
7,696 SF
Lot
0.5 ac (21,649 SF)
Zoning code
I1
APN
24174343000015
UPID
US87-1057710
Jurisdiction
VIRGINIA BEACH CITY
Zoning & alternative use
I1 · Virginia Beach, VA
Zoning I1 · permitted uses
I1 · 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
$1.2M
INDUSTRIAL (GENERAL) Current
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
1998
Construction
TYPE NOT SPECIFIED
Heating
YES
Stories
1
Lot
0.5 ac
Current owner
From public records · entity-resolved
Pamela A Horn
Individual
Free & Clear · 16 yrs held
Mailing address
2009 CV RD, VIRGINIA BEACH, VA 23451-1619
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 6, 2010
—
Pamela A Horn
Horn,pamela A
Quit Claim Deed
related
—
Oct 10, 2008
—
Pamela A Horn
Doverspike,scott A
Quit Claim Deed
related
—
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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