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Property profile & analytics
OFF-MARKET
Estimated value
$690,000
Office Spaces
2388 Liberty Way Virginia Beach, VA 23456-3462
Entity Owned
11-yr Hold
~
Est. High Equity
Property ID
US87-1204388
Property profile
Verified
Property type
Office Spaces
Use group
CONDOMINIUM OFFICES
Year built
1987
Construction
FRAME
Total area
6,160 SF
Lot
0.54 ac (23,740 SF)
Zoning code
B1
APN
24040105900002
UPID
US87-1204388
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$748k
Blend (final)
Blend
$690k
Owner & transaction history
Thomas & Dovis Holdings LLC · 11 yrs held
Thomas & Dovis Holdings LLC
since 2014
4 recorded transactions
Zoning & alternative use
B1 · 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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,135,000
Current use
INDUSTRIAL (GENERAL)
$935,000
Change: -18% · Conversion: Difficult
Blend value · Realmo final
$690k
Range $621k – $759k · ±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
$112 / 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
$4,702
Tax year 2024
Assessed value
$474,900
Assessed 2024
Previous assessed
$474,900
+0.0% YoY
Effective rate
0.99%
On assessed value
Assessed land
$138,900
Assessed improvement
$336,000
Land market value
$138,900
Improvement market value
$336,000
Total market value
$474,900
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
1987
Construction
FRAME
Heating
YES
Cooling
CENTRAL
Stories
2
Total area
6,160 SF
Lot
0.54 ac (23,740 SF)
Zoning code
B1
APN
24040105900002
UPID
US87-1204388
Jurisdiction
VIRGINIA BEACH CITY
Zoning & alternative use
B1 · Virginia Beach, VA
Zoning B1 · permitted uses
B1 · 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
$1.1M
INDUSTRIAL (GENERAL)
Est. value
$935,000
OFFICE BUILDING Current
INDUSTRIAL (GENERAL)
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
1987
Construction
FRAME
Heating
YES
Cooling
Yes
Stories
2
Lot
0.54 ac
Current owner
From public records · entity-resolved
Thomas & Dovis Holdings LLC
Entity
Mailing address
PO BOX 10637, VIRGINIA BEACH, VA 23450-0637
Ownership since
2014
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 1, 2022
—
Thomas And Dovis Holdings LLC
—
Deed
related
$973,500 · Townebank
Nov 17, 2014
$657,000
Thomas & Dovis Holdings LLC
Hph Fund I D2 LLC
Grant Deed
related
$558,450 · Union First Market Bk
Apr 8, 2013
$1,235,000
Hph Fund I D2 LLC
Us Bank NA 2005-ck11
Grant Deed
related
—
Sep 28, 2012
$3,600,000
Us Bk NA 2005-ck11
James P Cooke Esq
Trustees Deed
related
—
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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