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Property profile & analytics
OFF-MARKET
Estimated value
$885,000
Office buildings
1608 Independence Blvd Virginia Beach, VA 23455-4044
Entity Owned
4-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US87-1189342
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1969
Construction
TYPE NOT SPECIFIED
Total area
2,646 SF
Lot
0.7 ac (30,492 SF)
Zoning code
B2
APN
14793302280000
UPID
US87-1189342
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
-
Auto Land Auto Sales Car Dealership
-
Auto Land Auto Repair Shop Vehicle Inspection Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.16M
CAP Approach
CAP
$580k
Comparable Approach
Comparable
$704k
Blend (final)
Blend
$885k
Owner & transaction history
E C Independence LLC · 4 yrs held
E C Independence LLC
since 2021
Last sale
$900,000
1 recorded transaction
Zoning & alternative use
B2 · Virginia Beach, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$935,000
+91.3%
Commercial (general)
$905,000
+86.0%
Retail stores
$765,000
+56.8%
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
$1,060,000
ML approach
$1,155,000
CAP Approach
CAP Return
Estimation
6%
$625,000
6.5%
$580,000
7%
$535,000
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$935,000
Change: +91% · Conversion: Difficult
COMMERCIAL (GENERAL)
$905,000
Change: +86% · Conversion: Easy
RETAIL STORES
$765,000
Change: +57% · Conversion: Moderate
MEDICAL BUILDING
$625,000
Change: +28% · Conversion: Easy
Blend value · Realmo final
$885k
Range $797k – $974k · ±10% · vs last sale $900k (Aug 11 2021)
Last sale anchor
$900k
Aug 11 2021
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
$334 / 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
$6,341
Tax year 2024
Assessed value
$640,500
Assessed 2024
Previous assessed
$640,500
+0.0% YoY
Effective rate
0.99%
On assessed value
Assessed land
$456,900
Assessed improvement
$183,600
Land market value
$456,900
Improvement market value
$183,600
Total market value
$640,500
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1969
Construction
TYPE NOT SPECIFIED
Heating
YES
Stories
1
Total area
2,646 SF
Lot
0.7 ac (30,492 SF)
Zoning code
B2
APN
14793302280000
UPID
US87-1189342
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
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$935,000
COMMERCIAL (GENERAL)
Est. value
$905,000
RETAIL STORES
Est. value
$765,000
MEDICAL BUILDING
Est. value
$625,000
NEIGHBORHOOD: SHOPPING CENTER
COMMERCIAL (GENERAL)
RETAIL STORES
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
1969
Construction
TYPE NOT SPECIFIED
Heating
YES
Stories
1
Lot
0.7 ac
Current owner
From public records · entity-resolved
E C Independence LLC
Entity
Mailing address
3700 ALBACORE KY, VIRGINIA BEACH, VA 23452-3740
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2021
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 11, 2021
$900,000
E C Independence LLC
H & A Enterprises LLC
Deed
$600,000 · H & A Enterprises LLC
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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