Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2324 Elson Grn Ave Virginia Beach, VA 23456-6767

    • Industrial properties
    • 110,549 SF
    • 11.81 lot acres
    OFF-MARKET
    Value Estimations
    $580,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US87-0648406
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Home Services at The Home Depot / Plumber / Painter
    • Tool & Truck Rental Center at The Home Depot / Forklift Rental Service / Lawn Mower Repair Service
    • The Home Depot / Cabinet Store / Hardware Store
    • Garden Center at The Home Depot / Garden Center / Lawn Mower Store
    • Pro Desk at The Home Depot / Lumber Store / Marble Supplier

    Property Details for 2324 Elson Grn Ave

    Year built
    2004
    Construction
    TYPE NOT SPECIFIED
    Lot size
    11.81 lot acres
    Property size
    110,549 SF
    Zone code
    B2
    Property type
    Industrial properties
    APN
    24141590350000
    APU
    24141590350000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $580,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Virginia Beach
    County
    Virginia Beach City
    State
    Virginia
    Longitude
    -76.0112
    Latitude
    36.7578
    CBSA code
    47260
    CBSA name
    VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $121,545
    $4,885,600
    $7,644,800
    $12,530,400
    -
    $4,885,600
    $7,644,800
    $12,530,400

    Comparable in this City

    • Value Estimation by Request
      1,499 SF

      2128 London Brg Rd Ste, Unit 102

      CONDOMINIUMS (INDUSTRIAL) • 1,499 SF
      2128 London Brg Rd Ste, Virginia Beach, VA 23456-3933
      View Details
    • Value Estimation
      $3,500,000
      24,000 SF

      2433 Castleton Commerce Way

      INDUSTRIAL (GENERAL) • 24,000 SF
      2433 Castleton Commerce Way, Virginia Beach, VA 23456-5497
      View Details
    • Value Estimation by Request
      1,499 SF

      2128 London Brg Rd Ste, Unit 107

      CONDOMINIUMS (INDUSTRIAL) • 1,499 SF
      2128 London Brg Rd Ste, Virginia Beach, VA 23456-4085
      View Details
    • Value Estimation
      $2,345,000
      16,800 SF

      2400 Castleton Commerce Way

      INDUSTRIAL (GENERAL) • 16,800 SF
      2400 Castleton Commerce Way, Virginia Beach, VA 23456-5503
      View Details
    • Value Estimation
      $2,355,000
      24,000 SF

      2457 Castleton Commerce Way

      INDUSTRIAL (GENERAL) • 24,000 SF
      2457 Castleton Commerce Way, Virginia Beach, VA 23456-5497
      View Details
    • Value Estimation
      $1,040,000
      8,000 SF

      2469 Castleton Commerce Way

      INDUSTRIAL (GENERAL) • 8,000 SF
      2469 Castleton Commerce Way, Virginia Beach, VA 23456-5497
      View Details

    Similar Nearby for Sale

    • $8,100,000
      21.68 Acres

      Prime Coastal Virginia Land

      21-Acre Beachfront Development Opportunity
      3713 Sandpiper Rd, Virginia Beach, VA 23456
      View Details
    • $8,100,000

      Waterfront Land with Development Potential

      21.68-acre waterfront property suitable for various developments.
      3713 Sandpiper Rd, Virginia Beach, VA 23456
      View Details
    • $225,000
      1.40 Acres

      Cleared Lot in Pungo, Virginia

      1.4-acre cleared lot to build your dream home.
      4097 Muddy Creek Rd, Virginia Beach, VA 23456
      View Details
    • $210,000
      0.65 Acres

      Residential Land in Prime Location

      Land for sale in a convenient Virginia Beach location.
      3 Princess Anne Rd, Virginia Beach, VA 23456
      View Details
    • $260,000

      Waterfront RV Oasis in Virginia

      Waterfront RV lot with rental potential near community amenities.
      3665 Sandpiper Rd, Virginia Beach, VA 23456
      View Details
    • $649,999
      9.70 Acres

      9 Acres Private Land, Virginia Beach

      9+ acres of private land, perfect for estate or farm.
      2317 Princess Anne Rd, Virginia Beach, VA 23456
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,066 SF

      Retail Space in Virginia Beach

      Retail space available in a super-regional power center.
      3376 Princess Anne Rd, Virginia Beach, VA 23456
      View Details
    • Contact for pricing
      70,000 SF

      Prime Medical Office Space in VA Beach

      70,000 SF Class A Medical Building, 1,668 SF Available
      1975 Glenn Mitchell Dr, Virginia Beach, VA 23456
      View Details
    • $25 SF/Yr
      370,456 SF

      Red Mill Commons Retail Space

      Prime Retail Center, Virginia Beach
      1169 Nimmo Pkwy, Virginia Beach, VA 23456
      View Details
    • Contact for pricing
      1,600 SF

      Retail Space in Virginia Beach

      Retail space available in a super-regional power center.
      3388 Princess Anne Rd, Virginia Beach, VA 23456
      View Details
    • $32 SF/Yr
      14,145 SF

      Virginia Beach Medical Office Suites

      Class A medical office space, two suites available.
      2075 Glenn Mitchell Dr, Virginia Beach, VA 23456
      View Details
    • Contact for pricing
      3,010 SF

      Retail Space Near Walmart

      Retail space with high visibility and easy access.
      2061 Lynnhaven Pkwy, Virginia Beach, VA 23456
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2324 Elson Grn Ave
    Virginia Beach, VA 23456-6767
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.