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Property profile & analytics
OFF-MARKET
Day care centers
1640 Michigan Ave Virginia Beach, VA 23454-4648
Entity Owned
9-yr Hold
Absentee Owner
Free & Clear
Property ID
US87-0290501
Property profile
Verified
Property type
Day care centers
Use group
DAY CARE, PRE-SCHOOL
Year built
1956
Construction
FRAME
Total area
1,566 SF
Lot
0.22 ac (9,655 SF)
Zoning code
R5D
APN
24078564690000
UPID
US87-0290501
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
-
A New World of Learning Bilingual Academy High School Vocational School
-
Tot's Around the Clock Daycare Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Drc Properties LLC · 9 yrs held
Drc Properties LLC
since 2016
1 recorded transaction
Zoning & alternative use
R5D · 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$1,880
Tax year 2024
Assessed value
$189,900
Assessed 2024
Previous assessed
$189,900
+0.0% YoY
Effective rate
0.99%
On assessed value
Assessed land
$62,500
Assessed improvement
$127,400
Land market value
$62,500
Improvement market value
$127,400
Total market value
$189,900
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
Day care centers
Use group
DAY CARE, PRE-SCHOOL
Status
Off-Market
Year built
1956
Construction
FRAME
Heating
YES
Cooling
CENTRAL
Stories
1
Total area
1,566 SF
Lot
0.22 ac (9,655 SF)
Zoning code
R5D
APN
24078564690000
UPID
US87-0290501
Jurisdiction
VIRGINIA BEACH CITY
Zoning & alternative use
R5D · Virginia Beach, VA
Zoning R5D · permitted uses
R5D · 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
1956
Construction
FRAME
Heating
YES
Cooling
Yes
Stories
1
Lot
0.22 ac
Current owner
From public records · entity-resolved
Drc Properties LLC
Entity
Free & Clear · 9 yrs held
Mailing address
1519 HUMMINGBIRD LN, VIRGINIA BEACH, VA 23454-5622
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2016
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
Dec 28, 2016
—
Drc Properties LLC
Caraballo,david & Rosemarie
Grant Deed
related
—
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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