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Property profile & analytics
OFF-MARKET
Estimated value
$1,440,000
Office Spaces
2248 Sunstates Ct 100, Virginia Beach, VA 23451-1553
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US87-0675880
Property profile
Verified
Property type
Office Spaces
Use group
CONDOMINIUM OFFICES
Year built
1992
Construction
FRAME
Total area
8,317 SF
Lot
0.41 ac (17,729 SF)
Zoning code
B2
APN
15903063870100
UPID
US87-0675880
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
-
Mavromatis Dental Dental Office
-
Dragas Group Property Management Company
-
Dragas Homes Inc Construction Company General Contractor
-
Jack Mavromatis Dental Office
-
Dr. Carter Mavromatis Dental Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.82M
Comparable Approach
Comparable
$1.54M
Blend (final)
Blend
$1.44M
Owner & transaction history
Cape Henry Centre Associates LP · 2 yrs held
Cape Henry Centre Associates LP
since 2024
2 recorded transactions
Zoning & alternative use
B2 · Virginia Beach, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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%
$1,970,000
6.5%
$1,815,000
7%
$1,685,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$2,155,000
Current use
MEDICAL BUILDING
$1,960,000
Change: -9% · Conversion: Easy
Blend value · Realmo final
$1.44M
Range $1.30M – $1.58M · ±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
$173 / 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
$9,155
Tax year 2024
Assessed value
$924,700
Assessed 2024
Previous assessed
$924,700
+0.0% YoY
Effective rate
0.99%
On assessed value
Assessed land
$546,600
Assessed improvement
$378,100
Land market value
$546,600
Improvement market value
$378,100
Total market value
$924,700
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 Spaces
Use group
CONDOMINIUM OFFICES
Status
Off-Market
Year built
1992
Construction
FRAME
Heating
YES
Cooling
CENTRAL
Stories
1
Total area
8,317 SF
Lot
0.41 ac (17,729 SF)
Zoning code
B2
APN
15903063870100
UPID
US87-0675880
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
OFFICE BUILDING Current
Est. value
$2.2M
MEDICAL BUILDING
Est. value
$2.0M
OFFICE BUILDING Current
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
1992
Construction
FRAME
Heating
YES
Cooling
Yes
Stories
1
Lot
0.41 ac
Current owner
From public records · entity-resolved
Cape Henry Centre Associates LP
Entity
Mailing address
2248 SUNSTATES CT STE #101, VIRGINIA BEACH, VA 23451-1553
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 11, 2024
—
Cape Henry Centre Associates LP
—
Deed
related
$500,000 · South State Bank NA
Sep 1, 2009
—
Cape Henry Centre Assocs
—
Deed Of Trust
related
$1,446,775 · Heritage 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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