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Property profile & analytics
OFF-MARKET
Estimated value
$9,755,000
Warehouses
1980 Salem Rd Virginia Beach, VA 23456-1308
Entity Owned
13-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US87-1296180
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
2013
Construction
TYPE NOT SPECIFIED
Total area
66,564 SF
Lot
2.26 ac (98,271 SF)
Zoning code
B2
APN
14759057190000
UPID
US87-1296180
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
-
Area Storage Storage Facility
-
Prodigy 7 (Bike/Boat/Book/etc) Store Corporate Office
-
Palm Tree Wellness Wellness Program
-
Sevval nut roasting and processing Solutions Industrial Manufacturer Production Facility
-
Xyz Dumpsters Waste Management Facility Hazardous Waste Disposal
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$10.40M
Comparable Approach
Comparable
$7.29M
Blend (final)
Blend
$9.76M
Owner & transaction history
Salem Lakes Storage LLC · 13 yrs held
Salem Lakes Storage LLC
since 2012
7 recorded transactions
Zoning & alternative use
B2 · Virginia Beach, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$15.7M
+64.5%
Office building
$12.3M
+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%
$11,265,000
6.5%
$10,400,000
7%
$9,655,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$9,525,000
Current use
MEDICAL BUILDING
$15,670,000
Change: +65% · Conversion: Difficult
OFFICE BUILDING
$12,275,000
Change: +29% · Conversion: Difficult
Blend value · Realmo final
$9.76M
Range $8.78M – $10.73M · ±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
$147 / 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
$143,359
Tax year 2024
Assessed value
$14,779,300
Assessed 2024
Previous assessed
$14,779,300
+0.0% YoY
Effective rate
0.97%
On assessed value
Assessed land
$664,900
Assessed improvement
$14,114,400
Land market value
$664,900
Improvement market value
$14,114,400
Total market value
$14,779,300
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
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Status
Off-Market
Year built
2013
Construction
TYPE NOT SPECIFIED
Heating
YES
Buildings
2
Stories
3
Total area
66,564 SF
Lot
2.26 ac (98,271 SF)
Zoning code
B2
APN
14759057190000
UPID
US87-1296180
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
$9.5M
MEDICAL BUILDING
Est. value
$15.7M
OFFICE BUILDING
Est. value
$12.3M
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
2013
Construction
TYPE NOT SPECIFIED
Heating
YES
Stories
3
Buildings
2
Lot
2.26 ac
Current owner
From public records · entity-resolved
Salem Lakes Storage LLC
Entity
Mailing address
440 VIKING DR STE #240, VIRGINIA BEACH, VA 23452-7326
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2012
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
12 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 3, 2021
—
Salem Lakes Storage LLC
—
Deed
related
$5,300,000 · Tiaa Fsb Holdings INC
Aug 7, 2020
—
Salem Lks Storage LLC
—
Deed
related
$5,300,000 · Tiaa Fsb
Sep 26, 2012
$565,000
Salem Lakes Storage LLC
Salem Lakes II LLC
Grant Deed
related
—
Mar 17, 2009
—
Rcc Salem Lakes II LLC
Jlh Properties Of Virginia Vii Ll
Quit Claim Deed
related
—
Dec 30, 2008
$850,000
Rcc Salem Lakes II LLC
Jlh Properties Of Va Vii LLC
Grant Deed
—
Jan 23, 2007
$1,100,000
Jlh Props Of Virginia Vii LLC
Jlh Properties Of Virginia Vi LLC
Grant Deed
related
—
Jul 25, 2006
$1,100,010
Jlh Properties Of Va Vi II LLC
Blackwood Capital II LLC
Grant Deed
$1,100,000 · Blackwood Capital II LLC
—
—
Rcc Salem Lakes LLC
—
Deed Of Trust
related
$2,100,000 · Wells Fargo Bk NA 2005-1 (ce)
—
—
Salem Lks Storage LLC
—
Deed Of Trust
related
$5,300,000 · Tiaa Fsb
—
—
Jlh Props Of Virginia Vii LLC
—
Deed Of Trust
related
$400,000 · Branch Banking & Trust Co
—
—
Salem Lakes II LLC
—
Deed Of Trust
related
$425,000 · Wachovia Bank NA
—
—
Salem Lakes II LLC
—
Deed Of Trust
related
$387,000 · Bank Of Hampton Roads
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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