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Property profile & analytics
OFF-MARKET
Estimated value
$950,000
Retail space
1602 Atlantic Ave Virginia Beach, VA 23451-3423
Entity Owned
19-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US87-1206915
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2016
Construction
TYPE NOT SPECIFIED
Total area
9,025 SF
Lot
0.24 ac (10,586 SF)
Zoning code
OR
APN
24271688840000
UPID
US87-1206915
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
-
I Scream Ice Cream Specialty Food Shop (Bike/Boat/Book/etc) Store
-
La La Land Sugar Candy Kingdom Specialty Food Shop Candy Store
-
Kokee Tea Cafe & Coffee Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$876k
Blend (final)
Blend
$950k
Owner & transaction history
Mahakaal 1600 LLC · 19 yrs held
Mahakaal 1600 LLC
since 2007
6 recorded transactions
Zoning & alternative use
OR · 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%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$950k
Range $855k – $1.05M · ±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
$105 / 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
$29,981
Tax year 2024
Assessed value
$3,028,400
Assessed 2024
Previous assessed
$3,028,400
+0.0% YoY
Effective rate
0.99%
On assessed value
Assessed land
$1,350,000
Assessed improvement
$1,678,400
Land market value
$1,350,000
Improvement market value
$1,678,400
Total market value
$3,028,400
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
2016
Construction
TYPE NOT SPECIFIED
Heating
YES
Stories
1
Total area
9,025 SF
Lot
0.24 ac (10,586 SF)
Zoning code
OR
APN
24271688840000
UPID
US87-1206915
Jurisdiction
VIRGINIA BEACH CITY
Zoning & alternative use
OR · Virginia Beach, VA
Zoning OR · permitted uses
OR · 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.
Building & site characteristics
From public records
Year built
2016
Construction
TYPE NOT SPECIFIED
Heating
YES
Stories
1
Lot
0.24 ac
Current owner
From public records · entity-resolved
Mahakaal 1600 LLC
Entity
Mailing address
957 UPPR HASTINGS WAY, VIRGINIA BEACH, VA 23452-6251
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2007
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
Jul 12, 2021
—
Mahakaal 1600 LLC
—
Deed
related
$3,000,000 · Select Bank & Trust Co
Jul 28, 2016
—
Mahakaal 1600 LLC
—
Deed
related
$2,687,478 · Bank Of Hampton Roads
Sep 29, 2015
—
Mahakaal 1600 LLC
—
Grant Deed
related
$2,625,000 · Bank Of America
Feb 27, 2007
—
Mahakaal 1600 LLC
Samtani,madhu & Sapna
Grant Deed
related
—
Sep 1, 2004
$2,000,000
Madhu Samtani
Hull,charles R
Grant Deed
$1,800,000 · Charles R Hull
—
—
Mahakaal 1600 LLC
—
Loan Modification
related
$2,687,478 · Bank Of Hampton Roads
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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