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Property profile & analytics
OFF-MARKET
Estimated value
$690,000
Industrial properties
1616 Centerville Tpke Ste 201, Virginia Beach, VA 23464-6533
Entity Owned
3-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US87-0643088
Property profile
Verified
Property type
Industrial properties
Use group
CONDOMINIUMS (INDUSTRIAL)
Year built
1999
Construction
TYPE NOT SPECIFIED
Total area
4,692 SF
Zoning code
I1
APN
14558404970201
UPID
US87-0643088
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$740k
CAP Approach
CAP
$475k
Comparable Approach
Comparable
$846k
Blend (final)
Blend
$690k
Owner & transaction history
Morning Ventures LLC · 3 yrs held
Morning Ventures LLC
since 2023
Last sale
$660,000
3 recorded transactions
Zoning & alternative use
I1 · Virginia Beach, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$1.1M
+55.2%
Office building
$865,000
+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
$670,000
ML approach
$740,000
CAP Approach
CAP Return
Estimation
6%
$510,000
6.5%
$475,000
7%
$440,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$710,000
Current use
MEDICAL BUILDING
$1,105,000
Change: +55% · Conversion: Difficult
OFFICE BUILDING
$865,000
Change: +22% · Conversion: Difficult
WAREHOUSE, STORAGE
$670,000
Change: -6% · Conversion: Easy
Blend value · Realmo final
$690k
Range $621k – $759k · ±10% · vs last sale $660k (Mar 30 2023)
Last sale anchor
$660k
Mar 30 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
$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
$4,941
Tax year 2024
Assessed value
$509,400
Assessed 2024
Previous assessed
$509,400
+0.0% YoY
Effective rate
0.97%
On assessed value
Assessed land
$79,500
Assessed improvement
$429,900
Land market value
$79,500
Improvement market value
$429,900
Total market value
$509,400
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
Industrial properties
Use group
CONDOMINIUMS (INDUSTRIAL)
Status
Off-Market
Year built
1999
Construction
TYPE NOT SPECIFIED
Heating
YES
Stories
2
Total area
4,692 SF
Zoning code
I1
APN
14558404970201
UPID
US87-0643088
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
$710,000
MEDICAL BUILDING
Est. value
$1.1M
OFFICE BUILDING
Est. value
$865,000
WAREHOUSE, STORAGE
Est. value
$670,000
INDUSTRIAL (GENERAL) Current
MEDICAL BUILDING
OFFICE BUILDING
WAREHOUSE, STORAGE
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
1999
Construction
TYPE NOT SPECIFIED
Heating
YES
Stories
2
Current owner
From public records · entity-resolved
Morning Ventures LLC
Entity
Mailing address
6477 STEWART RD, BARHAMSVILLE, VA 23011-2269
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 30, 2023
$660,000
Morning Ventures LLC
Corrina Carter
Deed
$500,000 · Citizens & Farmers Bank
Nov 16, 2022
—
Corrina Carter
—
Deed
related
$260,000 · Robert K. Harwood Lc
May 21, 2018
$340,000
Corrina Carter
Weco LLC
Warranty Deed
$240,000 · Robert K Harwood Lc
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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