Property profile

228 Pennsylvania Ave Virginia Beach, VA 23462

OFF-MARKET
Warehouses
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Property ID
US87-1306930
11,970 SF 0.35 ac Built 1973
Last sale Mar 2014·$464,000
Entity Owned Owner of record is a legal entity (LLC / corporation). 12-yr Hold Held for 12 years. Absentee Owner Owner mailing address differs from the property address. ~ Est. High Equity Modeled equity is high. Estimate, not a fact.
Market Trends Soon

Property summary

AI-generated overview

This exceptional 6,490-square-foot warehouse is ideally situated in Virginia Beach's Town Center submarket, offering unparalleled convenience and accessibility. Located just west of Town Center and near the strategic intersection of Witchduck Road and I-264, this single-tenant property boasts a prime location for efficient logistics and distribution. The building itself has undergone recent improvements, featuring brand new flooring throughout, providing a clean and modern workspace. Updated…

Ownership intelligence

Who controls the opportunity?

Owner of record from public deeds, plus portfolio, hold profile and investor signals where the data supports them. Included with a plan.

Owner contacts

Can we reach the decision maker?

Skip-traced phones and e-mails of the owner. Included with a plan.

Debts

What is owed, to whom, and when it comes due

Recorded lenders, amounts and estimated maturities of the owner's loan book — included with a plan.

Property tax · 2024

What does the county charge?
$5k
Tax billed · 2024
Assessed value$545k
Assessed land$266k
Assessed improvement$280k
Effective rate0.97%

Value estimate

· Nov 2026
$310k
$279k – $341k
Submarket $/SF estimate$1.07M

Realmo valuation models over county records and 5 qualifying comparable sales.

Recently sold

What actually traded nearby?
$143/SF
Submarket average, outlier-cleaned · 65 recorded sales of this use type
Observed band · Q1–Q3$89 – $313
Qualifying comparables5

Cap rate analysis

How does the asset earn?

No income signal is modeled for this parcel yet — the Cap Rates tab runs the workflow.

Zoning insight

What can be built here?
I1
The purpose of the I-1 Light Industrial District is to permit light industrial uses, wholesaling, storage, packaging, distribution, and r...
General categoryINDUSTRIAL
JurisdictionVIRGINIA BEACH CITY

Location intelligence

Which uses thrive at this corner?
Best fit: Restaurant
Demand heat for this use is drawn on the map · LocInt grid
Demand index
Restaurant28.5
Building Supply21.7
Wholesale Shop19.5

Location

228 Pennsylvania Ave Virginia Beach, VA 23462-2514
County assessor Recorded deeds · 1 transfer 5 qualifying comp sales Zoning catalog

Every figure names its source: public record, benchmark, or modeled. Coverage varies by property — thin data is stated as missing, never invented.

Comparables

6 recorded sales · 17 properties nearby
Recent sales nearby
6 recorded sales in this ZIP, last 8 years
Address Sale price Sold Size
5792 Arrowhead, Virginia Beach, VA 23462-3219 $1,250,000 Mar 2023 11,907 SF
120 Jersey, Virginia Beach, VA 23462-2508 $1,375,000 Dec 2022 13,054 SF
4987 Cleveland St, Virginia Beach, VA 23462-5315 $1,750,000 Sep 2022 14,220 SF
5241 Cleveland St, Virginia Beach, VA 23462-6548 $1,950,000 Apr 2022 10,912 SF
5250 Challedon, Virginia Beach, VA 23462-6304 $1,300,000 Jan 2022 15,600 SF
Sale prices and dates as our records hold them, one row per building. A deed can cover more of a building than the size shown, so read the price against the size rather than dividing one by the other.
Comparable nearby
6 properties of the same type nearby
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Includes: Price & PSF · Cap rate · Location · Zoning

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