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Property profile & analytics
OFF-MARKET
Estimated value
$2,295,000
Turn key restaurants
1710 Pacific Ave Virginia Beach, VA 23451-3436
Entity Owned
4-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US87-1122232
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1963
Construction
TYPE NOT SPECIFIED
Total area
4,376 SF
Lot
0.49 ac (21,302 SF)
Zoning code
OR
APN
24271742250000
UPID
US87-1122232
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
-
Waffles & Co Restaurant
-
1710 Pacific Ave Parking Parking Lot & Garage
-
ATM Atm
-
Get A Clue Murder Mystery Dinner Theater Restaurant Theater & Performing Art Venue
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.19M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.30M
Owner & transaction history
Waffi LLC · 4 yrs held
Waffi LLC
since 2022
Last sale
$2.4M
1 recorded transaction
Zoning & alternative use
OR · Virginia Beach, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$3.1M
+57.1%
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
$2,190,000
ML approach
$2,185,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$1,975,000
Current use
AUTO REPAIR, GARAGE
$3,100,000
Change: +57% · Conversion: Difficult
Blend value · Realmo final
$2.30M
Range $2.07M – $2.52M · ±10% · vs last sale $2.40M (Jan 5 2022)
Last sale anchor
$2.40M
Jan 5 2022
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
$524 / 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
$22,728
Tax year 2024
Assessed value
$2,295,800
Assessed 2024
Previous assessed
$2,295,800
+0.0% YoY
Effective rate
0.99%
On assessed value
Assessed land
$1,916,700
Assessed improvement
$379,100
Land market value
$1,916,700
Improvement market value
$379,100
Total market value
$2,295,800
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
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
1963
Construction
TYPE NOT SPECIFIED
Heating
NONE
Cooling
CENTRAL
Stories
1
Total area
4,376 SF
Lot
0.49 ac (21,302 SF)
Zoning code
OR
APN
24271742250000
UPID
US87-1122232
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.
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT Current
Est. value
$2.0M
AUTO REPAIR, GARAGE
Est. value
$3.1M
RESTAURANT Current
AUTO REPAIR, GARAGE
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
1963
Construction
TYPE NOT SPECIFIED
Heating
NONE
Cooling
Yes
Stories
1
Lot
0.49 ac
Current owner
From public records · entity-resolved
Waffi LLC
Entity
Mailing address
415 ATLANTIC AVE, VIRGINIA BEACH, VA 23451-3610
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
Jan 5, 2022
$2,400,000
Waffi LLC
Alk Incorporated
Special Warranty Deed
$1,490,000 · Integrity Bank
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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