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Property profile & analytics
OFF-MARKET
Estimated value
$690,000
Warehouses
1920 Indian Riv Rd Virginia Beach, VA 23456-3888
Entity Owned
Absentee Owner
Free & Clear
Property ID
US87-0920992
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
1969
Construction
TYPE NOT SPECIFIED
Total area
4,225 SF
Lot
2.89 ac (125,671 SF)
Zoning code
B2
APN
24131256080000
UPID
US87-0920992
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
-
Verizon Telecommunications Service Electrical Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$660k
Comparable Approach
Comparable
$463k
Blend (final)
Blend
$690k
Owner & transaction history
PRINCESS ANNE REALTY LLC
PRINCESS ANNE REALTY LLC
Zoning & alternative use
B2 · Virginia Beach, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$995,000
+64.5%
Office building
$780,000
+28.9%
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%
$715,000
6.5%
$660,000
7%
$615,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$605,000
Current use
MEDICAL BUILDING
$995,000
Change: +65% · Conversion: Difficult
OFFICE BUILDING
$780,000
Change: +29% · Conversion: Difficult
Blend value · Realmo final
$690k
Range $621k – $759k · ±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
$163 / 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
$10,497
Tax year 2024
Assessed value
$1,082,200
Assessed 2024
Previous assessed
$1,082,200
+0.0% YoY
Effective rate
0.97%
On assessed value
Assessed land
$908,000
Assessed improvement
$174,200
Land market value
$908,000
Improvement market value
$174,200
Total market value
$1,082,200
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
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Status
Off-Market
Year built
1969
Construction
TYPE NOT SPECIFIED
Heating
YES
Stories
1
Total area
4,225 SF
Lot
2.89 ac (125,671 SF)
Zoning code
B2
APN
24131256080000
UPID
US87-0920992
Jurisdiction
VIRGINIA BEACH CITY
Zoning & alternative use
B2 · Virginia Beach, VA
Zoning B2 · permitted uses
B2 · 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
WAREHOUSE, STORAGE Current
Est. value
$605,000
MEDICAL BUILDING
Est. value
$995,000
OFFICE BUILDING
Est. value
$780,000
WAREHOUSE, STORAGE Current
MEDICAL BUILDING
OFFICE 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
1969
Construction
TYPE NOT SPECIFIED
Heating
YES
Stories
1
Lot
2.89 ac
Current owner
From public records · entity-resolved
PRINCESS ANNE REALTY LLC
Entity
Free & Clear · 0 yrs held
Mailing address
7701 E TELECOM PKWY, TEMPLE TERRACE, FL 33637-0914
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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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