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Property profile & analytics
OFF-MARKET
Estimated value
$2,275,000
Retail space
1280 Great Nck Rd Virginia Beach, VA 23454-2126
Individually Owned
12-yr Hold
Absentee Owner
Free & Clear
Property ID
US87-2293047
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2014
Construction
CONCRETE
Total area
13,334 SF
Lot
1.35 ac (58,762 SF)
APN
24082669670000
UPID
US87-2293047
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
-
CVS Cosmetic Store
-
CVS Pharmacy Pharmacy
-
CVS Photo (Bike/Boat/Book/etc) Store
-
Coinhub Bitcoin ATM Teller Atm
-
UPS Access Point location Courier Service Postal Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.15M
Comparable Approach
Comparable
$1.45M
Blend (final)
Blend
$2.28M
Owner & transaction history
Vm Assocs · 12 yrs held
Vm Assocs
since 2014
6 recorded transactions
Zoning & alternative use
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%
$2,325,000
6.5%
$2,150,000
7%
$1,995,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$3,140,000
Change: -19% · Conversion: Difficult
Blend value · Realmo final
$2.28M
Range $2.05M – $2.50M · ±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
$171 / 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
$43,469
Tax year 2024
Assessed value
$4,390,800
Assessed 2024
Previous assessed
$4,004,600
+9.6% YoY
Effective rate
0.99%
On assessed value
Assessed land
$1,480,800
Assessed improvement
$2,910,000
Land market value
$1,480,800
Improvement market value
$2,910,000
Total market value
$4,390,800
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
2014
Construction
CONCRETE
Heating
NONE
Stories
1
Total area
13,334 SF
Lot
1.35 ac (58,762 SF)
APN
24082669670000
UPID
US87-2293047
Jurisdiction
VIRGINIA BEACH CITY
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING
Est. value
$3.1M
MEDICAL 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
2014
Construction
CONCRETE
Heating
NONE
Stories
1
Lot
1.35 ac
Current owner
From public records · entity-resolved
Vm Assocs
Individual
Free & Clear · 12 yrs held
Mailing address
685 THALIA PT RD, VIRGINIA BEACH, VA 23452-1815
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2014
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
Nov 16, 2020
—
V M Assocs LLP
—
Deed
related
$1,260,000 · Miscellaneous Ins Co
Mar 7, 2014
$1,051,200
Vm Assocs
Cvs 2776 Va LLC
Grant Deed
—
Feb 4, 2014
$2,500,000
Cvs 2776 Va LLC
Metropolitan Property Invs LLC
Grant Deed
—
Nov 26, 2007
$1,007,000
Metropolitan Property Invs LLC
Smo INC
Trustees Deed
$1,200,000 · Wachovia Bk/ga
—
—
V M Assocs LLP
—
Deed Of Trust
related
$1,260,000 · Miscellaneous Ins Co
—
—
Metropolitan Property Investme
—
Deed Of Trust
related
$265,000 · Smo 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.
Try Rey
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