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Property profile & analytics
OFF-MARKET
Estimated value
$1,315,000
Industrial properties
1364 Air Rail Ave Virginia Beach, VA 23455-3318
Entity Owned
4-yr Hold
Absentee Owner
Free & Clear
Property ID
US87-1149172
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
1983
Construction
TYPE NOT SPECIFIED
Total area
8,952 SF
Lot
1.66 ac (72,484 SF)
Zoning code
I1
APN
14597139380000
UPID
US87-1149172
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
-
Century Concrete Construction Company General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$900k
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.32M
Owner & transaction history
Barrs Road LLC · 4 yrs held
Barrs Road LLC
since 2022
1 recorded transaction
Zoning & alternative use
I1 · Virginia Beach, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$2.1M
+55.2%
Office building
$1.7M
+21.6%
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%
$980,000
6.5%
$900,000
7%
$840,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$1,360,000
Current use
MEDICAL BUILDING
$2,105,000
Change: +55% · Conversion: Difficult
OFFICE BUILDING
$1,650,000
Change: +22% · Conversion: Difficult
Blend value · Realmo final
$1.32M
Range $1.18M – $1.45M · ±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
$147 / 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
$11,398
Tax year 2024
Assessed value
$1,175,000
Assessed 2024
Previous assessed
$1,175,000
+0.0% YoY
Effective rate
0.97%
On assessed value
Assessed land
$431,600
Assessed improvement
$743,400
Land market value
$431,600
Improvement market value
$743,400
Total market value
$1,175,000
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
INDUSTRIAL (GENERAL)
Status
Off-Market
Year built
1983
Construction
TYPE NOT SPECIFIED
Heating
YES
Buildings
2
Stories
1
Total area
8,952 SF
Lot
1.66 ac (72,484 SF)
Zoning code
I1
APN
14597139380000
UPID
US87-1149172
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
$1.4M
MEDICAL BUILDING
Est. value
$2.1M
OFFICE BUILDING
Est. value
$1.7M
INDUSTRIAL (GENERAL) Current
MEDICAL BUILDING
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
1983
Construction
TYPE NOT SPECIFIED
Heating
YES
Stories
1
Buildings
2
Lot
1.66 ac
Current owner
From public records · entity-resolved
Barrs Road LLC
Entity
Free & Clear · 4 yrs held
Mailing address
8404 OCEAN FRNT AVEA, VIRGINIA BEACH, VA 23451-1834
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2022
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
Mar 29, 2022
—
Barrs Road LLC
Preston M White
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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