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Property profile & analytics
FOR LEASE
Office buildings
123 S Lynnhaven Rd Virginia Beach, VA 23452
Entity Owned
2-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US87-1268350
For Lease
1 / 2
$1,535,000
123 S Lynnhaven Rd, Virginia Beach, VA 23452
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1987
Construction
FRAME
Total area
8,753 SF
Lot
0.6 ac (26,071 SF)
Zoning code
O2
APN
14974377510000
UPID
US87-1268350
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
-
Judy Marsh, Rose & Womble Realty Company Real Estate Agency
-
Bill Weakley Loan Officer with Advance Financial Group Loan Service Bank
-
Mandy Farmer Realtor- Berkshire Hathaway HomeServices RW Towne Realty Real Estate Agency
-
Leslie Elle Rhue, Rose & Womble Realty Company Real Estate Agency
-
Tim Cochran - Waterfront Specialist BHHS RW Towne Realty Real Estate Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.54M
CAP Approach
CAP
$2.04M
Comparable Approach
Comparable
$1.11M
Blend (final)
Blend
$1.54M
Owner & transaction history
Triangle Holdings LLC · 2 yrs held
Triangle Holdings LLC
since 2024
Last sale
$1.5M
6 recorded transactions
Zoning & alternative use
O2 · Virginia Beach, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$2.5M
+101.5%
Medical building
$2.1M
+64.1%
Industrial (general)
$1.5M
+19.1%
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
$1,535,000
ML approach
$1,535,000
CAP Approach
CAP Return
Estimation
6%
$2,205,000
6.5%
$2,035,000
7%
$1,890,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,255,000
Current use
RETAIL STORES
$2,530,000
Change: +102% · Conversion: Moderate
MEDICAL BUILDING
$2,060,000
Change: +64% · Conversion: Easy
INDUSTRIAL (GENERAL)
$1,495,000
Change: +19% · Conversion: Difficult
Blend value · Realmo final
$1.54M
Range $1.38M – $1.69M · ±10% · vs last sale $1.54M (Jan 3 2024)
Last sale anchor
$1.54M
Jan 3 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
$175 / 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
$9,639
Tax year 2024
Assessed value
$973,600
Assessed 2024
Previous assessed
$973,600
+0.0% YoY
Effective rate
0.99%
On assessed value
Assessed land
$402,400
Assessed improvement
$571,200
Land market value
$402,400
Improvement market value
$571,200
Total market value
$973,600
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
Office buildings
Use group
OFFICE BUILDING
Status
For Lease
Year built
1987
Construction
FRAME
Heating
YES
Cooling
CENTRAL
Stories
2
Total area
8,753 SF
Lot
0.6 ac (26,071 SF)
Zoning code
O2
APN
14974377510000
UPID
US87-1268350
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
OFFICE BUILDING Current
Est. value
$1.3M
RETAIL STORES
Est. value
$2.5M
MEDICAL BUILDING
Est. value
$2.1M
INDUSTRIAL (GENERAL)
Est. value
$1.5M
OFFICE BUILDING Current
RETAIL STORES
MEDICAL BUILDING
INDUSTRIAL (GENERAL)
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
FRAME
Heating
YES
Cooling
Yes
Stories
2
Lot
0.6 ac
Current owner
From public records · entity-resolved
Triangle Holdings LLC
Entity
Mailing address
2600 BARRETT ST, VIRGINIA BEACH, VA 23452-7404
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 3, 2024
$1,535,000
Triangle Holdings LLC
123 South Lynnhaven LLC
Bargain And Sale Deed
$1,535,000 · 123 South Lynnhaven LLC
Apr 19, 2021
—
123 South Lynnhaven LLC
J Van Rose JR
Deed
—
Feb 9, 2018
—
J Van JR.
—
Deed
related
$1,000,000 · Southern Bk
Jun 30, 2005
—
Jimmy V Rose JR.
—
Deed Of Trust
related
$6,000,000 · Suntrust Bank NA
—
—
Jimmy V Rose JR.
—
Deed Of Trust
related
$136,000 · Southern Bank & Trust
—
—
J Van JR.
—
Deed Of Trust
related
$1,000,000 · Southern 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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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