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Property profile & analytics
OFF-MARKET
Estimated value
$5,415,000
Grocery and convenience stores
1280 General Booth Blvd Virginia Beach, VA 23451-4830
Entity Owned
2-yr Hold
Absentee Owner
Free & Clear
Property ID
US87-1353695
Property summary
AI-generated overview
This exceptional 1.7-acre commercial land parcel presents a unique investment opportunity in the thriving Virginia Beach market. Located at 1280 General Booth Boulevard, this property boasts a highly desirable B2 zoning designation, opening doors to a wide range of commercial development possibilities. Its strategic location at the signalized intersection of General Booth Boulevard and Prosperity Road ensures maximum visibility and accessibility, placing your business in the heart of a busy commercial corridor. The property is situated directly adjacent to a Wawa convenience store, guaranteeing high traffic flow and significant foot traffic. The asking price for this prime commercial land is $1,950,000. This represents a compelling investment opportunity given the property's size, location, and zoning potential. The seller is offering a co-op arrangement. Detailed site plans and zoning information are readily available upon request. Don't miss this chance to secure a prominent location for your next commercial venture in a rapidly growing area of Virginia Beach, VA, zip code 23451. The property is being offered for sale by owner.
Property profile
Verified
Property type
Grocery and convenience stores
Use group
CONVENIENCE STORE
Year built
2023
Construction
FRAME
Total area
6,004 SF
Zoning code
B2
APN
24156852790000
UPID
US87-1353695
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
-
Wawa Restaurant Take-out & Catering
-
PNC ATM Atm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$5.68M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$6.59M
Blend (final)
Blend
$5.42M
Owner & transaction history
Storyland Properttes LLC · 2 yrs held
Storyland Properttes LLC
since 2023
Last sale
$5.3M
1 recorded transaction
Zoning & alternative use
B2 · Virginia Beach, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$4.3M
+100.8%
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
$5,380,000
ML approach
$5,675,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
AUTO REPAIR, GARAGE
$4,250,000
Change: +101% · Conversion: Difficult
Blend value · Realmo final
$5.42M
Range $4.87M – $5.96M · ±10% · vs last sale $5.30M (Aug 31 2023)
Last sale anchor
$5.30M
Aug 31 2023
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
$902 / 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
$36,615
Tax year 2024
Assessed value
$3,698,500
Assessed 2024
Previous assessed
$3,698,500
+0.0% YoY
Effective rate
0.99%
On assessed value
Assessed land
$2,015,900
Assessed improvement
$1,682,600
Land market value
$2,015,900
Improvement market value
$1,682,600
Total market value
$3,698,500
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
Grocery and convenience stores
Use group
CONVENIENCE STORE
Status
Off-Market
Year built
2023
Construction
FRAME
Heating
YES
Stories
1
Total area
6,004 SF
Zoning code
B2
APN
24156852790000
UPID
US87-1353695
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
AUTO REPAIR, GARAGE
Est. value
$4.3M
AUTO REPAIR, GARAGE
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
2023
Construction
FRAME
Heating
YES
Stories
1
Current owner
From public records · entity-resolved
Storyland Properttes LLC
Entity
Free & Clear · 2 yrs held
Mailing address
915 N ALLEN AVE STE #202, RICHMOND, VA 23220-2100
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 31, 2023
$5,300,000
Storyland Properttes LLC
General Booth Venture LLC
Special Warranty Deed
—
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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