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Property profile & analytics
OFF-MARKET
Estimated value
$835,000
Grocery and convenience stores
1885 Indian Riv Rd Virginia Beach, VA 23456-3890
Entity Owned
1-yr Hold
Absentee Owner
Free & Clear
Property ID
US87-0489405
Property profile
Verified
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Year built
2017
Construction
FRAME
Total area
2,018 SF
Lot
21.1 ac (919,247 SF)
Zoning code
AG1
APN
24132124180000
UPID
US87-0489405
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
-
New Earth Farm and Market Food Processing Plant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$885k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$557k
Blend (final)
Blend
$835k
Owner & transaction history
Virginia Nursery LLC · 1 yrs held
Virginia Nursery LLC
since 2025
Last sale
$1.2M
7 recorded transactions
Zoning & alternative use
AG1 · Virginia Beach, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$710,000
+22.1%
Commercial (general)
$690,000
+18.6%
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
$845,000
ML approach
$885,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$585,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$710,000
Change: +22% · Conversion: Moderate
COMMERCIAL (GENERAL)
$690,000
Change: +19% · Conversion: Easy
Blend value · Realmo final
$835k
Range $752k – $919k · ±10% · vs last sale $1.16M (Feb 10 2025)
Last sale anchor
$1.16M
Feb 10 2025
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
$414 / 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
$3,814
Tax year 2024
Assessed value
$393,800
Assessed 2024
Previous assessed
$393,800
+0.0% YoY
Effective rate
0.97%
On assessed value
Assessed land
$128,300
Assessed improvement
$265,500
Land market value
$128,300
Improvement market value
$265,500
Total market value
$393,800
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
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Status
Off-Market
Year built
2017
Construction
FRAME
Heating
YES
Stories
1
Rooms
6
Total area
2,018 SF
Lot
21.1 ac (919,247 SF)
Zoning code
AG1
APN
24132124180000
UPID
US87-0489405
Jurisdiction
VIRGINIA BEACH CITY
Zoning & alternative use
AG1 · Virginia Beach, VA
Zoning AG1 · permitted uses
AG1 · 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
RETAIL STORES Current
Est. value
$585,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$710,000
COMMERCIAL (GENERAL)
Est. value
$690,000
RETAIL STORES Current
NEIGHBORHOOD: SHOPPING CENTER
COMMERCIAL (GENERAL)
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
2017
Construction
FRAME
Heating
YES
Stories
1
Rooms
6
Lot
21.1 ac
Current owner
From public records · entity-resolved
Virginia Nursery LLC
Entity
Free & Clear · 1 yrs held
Mailing address
1228 YORK LN, VIRGINIA BEACH, VA 23451-3707
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2025
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
May 20, 2025
—
Virginia Nursery LLC
Virginia Lawns LLC
Deed
related
—
Feb 10, 2025
$1,161,500
Virginia Lawns LLC
Veg Out Gardens LLC
Bargain & Sale Deed
$1,061,500 · Veg Out Gardens LLC
Apr 25, 2022
$925,000
Veg Out Gardens LLC
Pungo Ridge Farm LLC
Deed
—
May 4, 2017
$450,000
Pungo Ridge Farm LLC A Virginia Lim
John D Wilson
Warranty Deed
$477,750 · Townebank
Mar 7, 2014
$167,500
John D Wilson
Cgc Properties LLC
Warranty Deed
$167,499 · Cgc Properties LLC
Mar 9, 2010
$417,500
Cgc Properties LLC
Baylake Farms LLC
Grant Deed
—
Mar 28, 2005
—
Baylake Farms LLC
Cromwell,john G JR & Edward Fortune
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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