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Property profile & analytics
OFF-MARKET
Estimated value
$14,555,000
Community centers
2356 Virginia Bch Blvd Virginia Beach, VA 23454-4080
Entity Owned
3-yr Hold
Free & Clear
Property ID
US87-0722039
Property profile
Verified
Property type
Community centers
Use group
MINI-MALL
Year built
1969
Construction
TYPE NOT SPECIFIED
Total area
34,610 SF
Lot
5.05 ac (220,034 SF)
Zoning code
B2
APN
14979547560000
UPID
US87-0722039
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
-
T.J. Maxx & HomeGoods Department Store
-
Rock's Carolina Furniture Furniture & Home Goods Home Decor Store
-
Yes Appliance Repair Home Appliance Store Hardware & Home Improvement
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$8.98M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$14.50M
Blend (final)
Blend
$14.56M
Owner & transaction history
Powell Lineage Jeffries Cove LLC · 3 yrs held
Powell Lineage Jeffries Cove LLC
since 2023
Last sale
$14.5M
6 recorded transactions
Zoning & alternative use
B2 · Virginia Beach, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$15.6M
+27.8%
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
$14,725,000
ML approach
$8,980,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$12,210,000
Current use
RESTAURANT
$15,600,000
Change: +28% · Conversion: Difficult
COMMERCIAL (GENERAL)
$11,870,000
Change: -3% · Conversion: Easy
RETAIL STORES
$10,005,000
Change: -18% · Conversion: Easy
Blend value · Realmo final
$14.56M
Range $13.10M – $16.01M · ±10% · vs last sale $14.50M (Mar 29 2023)
Last sale anchor
$14.50M
Mar 29 2023
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
$421 / 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
$70,585
Tax year 2024
Assessed value
$7,129,800
Assessed 2024
Previous assessed
$7,129,800
+0.0% YoY
Effective rate
0.99%
On assessed value
Assessed land
$1,980,200
Assessed improvement
$5,149,600
Land market value
$1,980,200
Improvement market value
$5,149,600
Total market value
$7,129,800
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
Community centers
Use group
MINI-MALL
Status
Off-Market
Year built
1969
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Total area
34,610 SF
Lot
5.05 ac (220,034 SF)
Zoning code
B2
APN
14979547560000
UPID
US87-0722039
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
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$12.2M
RESTAURANT
Est. value
$15.6M
COMMERCIAL (GENERAL)
Est. value
$11.9M
RETAIL STORES
Est. value
$10.0M
NEIGHBORHOOD: SHOPPING CENTER Current
RESTAURANT
COMMERCIAL (GENERAL)
RETAIL STORES
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
NONE
Stories
1
Lot
5.05 ac
Current owner
From public records · entity-resolved
Powell Lineage Jeffries Cove LLC
Entity
Free & Clear · 3 yrs held
Mailing address
PO BOX 7947, ROCKY MOUNT, NC 27804-0947
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 29, 2023
$14,500,000
Powell Lineage Jeffries Cove LLC
London Bridge Center LLC
Special Warranty Deed
—
Oct 29, 2014
—
London Bridge Center LLC
—
Grant Deed
related
$24,000,000 · Wells Fargo Bk
Mar 22, 2010
—
London Bridge Center LLC
Virginia Electric & Power Co
Quit Claim Deed
related
—
Nov 25, 2009
$7,250,000
London Bridge Center LLC
First Republic Corp Of America
Grant Deed
$6,100,000 · Wells Fargo Bank
—
—
London Bridge Center LLC
—
Loan Modification
related
$34,430,727 · Wells Fargo Bk
—
—
London Bridge Center LLC
—
Loan Modification
related
$40,050,327 · Wells Fargo Bk
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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