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Property profile & analytics
OFF-MARKET
Estimated value
$995,000
Office buildings
1796 Princess Anne Rd Virginia Beach, VA 23456-3807
Entity Owned
17-yr Hold
~
Est. High Equity
Property ID
US87-0289154
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1962
Construction
TYPE NOT SPECIFIED
Total area
4,284 SF
Lot
5 ac (217,800 SF)
Zoning code
AG2
APN
24130240490000
UPID
US87-0289154
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
by Request
CAP Approach
CAP
$865k
Comparable Approach
Comparable
$1.14M
Blend (final)
Blend
$995k
Owner & transaction history
1792 Princess Anne Road LLC · 17 yrs held
1792 Princess Anne Road LLC
since 2009
7 recorded transactions
Zoning & alternative use
AG2 · Virginia Beach, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$1.5M
+91.3%
Commercial (general)
$1.5M
+86.0%
Retail stores
$1.2M
+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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$935,000
6.5%
$865,000
7%
$800,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$790,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$1,510,000
Change: +91% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,470,000
Change: +86% · Conversion: Easy
RETAIL STORES
$1,240,000
Change: +57% · Conversion: Moderate
MEDICAL BUILDING
$1,010,000
Change: +28% · Conversion: Easy
Blend value · Realmo final
$995k
Range $896k – $1.09M · ±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
$232 / 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
$21,832
Tax year 2024
Assessed value
$2,205,300
Assessed 2024
Previous assessed
$2,205,300
+0.0% YoY
Effective rate
0.99%
On assessed value
Assessed land
$1,784,200
Assessed improvement
$421,100
Land market value
$1,784,200
Improvement market value
$421,100
Total market value
$2,205,300
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
1962
Construction
TYPE NOT SPECIFIED
Heating
YES
Buildings
3
Stories
1
Total area
4,284 SF
Lot
5 ac (217,800 SF)
Zoning code
AG2
APN
24130240490000
UPID
US87-0289154
Jurisdiction
VIRGINIA BEACH CITY
Zoning & alternative use
AG2 · Virginia Beach, VA
Zoning AG2 · permitted uses
AG2 · 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
OFFICE BUILDING Current
Est. value
$790,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.5M
COMMERCIAL (GENERAL)
Est. value
$1.5M
RETAIL STORES
Est. value
$1.2M
MEDICAL BUILDING
Est. value
$1.0M
OFFICE BUILDING Current
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
1962
Construction
TYPE NOT SPECIFIED
Heating
YES
Stories
1
Buildings
3
Lot
5 ac
Current owner
From public records · entity-resolved
1792 Princess Anne Road LLC
Entity
Mailing address
PO BOX 57008, VIRGINIA BEACH, VA 23457-0308
Ownership since
2009
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 4, 2017
—
1792 Princess Ann Road LLC
—
Deed
related
$1,000,000 · First Nat'l Bk/pa
Apr 23, 2009
$1,900,000
1792 Princess Anne Road LLC
Caton,nancy L
Grant Deed
$1,455,748 · Nancy L Caton
Jan 5, 2009
—
Nancy L Caton
—
Trustees Deed
related
$100,000 · Monarch Bank
—
—
Nancy L Caton
—
Deed Of Trust
related
$50,000 · Towne Bank
—
—
Nancy L Caton
—
Deed Of Trust
related
$50,000 · Towne Bank
—
—
1792 Princess Ann Road LLC
—
Deed Of Trust
related
$1,000,000 · First Nat'l Bk/pa
—
—
Nancy L Caton
—
Deed Of Trust
related
$50,000 · Merle W JR Roberts
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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