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Property profile & analytics
OFF-MARKET
Estimated value
$530,000
Turn key restaurants
2407 Pacific Ave, Virginia Beach, VA 23451-3241
Entity Owned
9-yr Hold
~
Est. High Equity
Property ID
US87-3909011
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1962
Construction
TYPE NOT SPECIFIED
Total area
5,077 SF
Lot
0.26 ac (11,159 SF)
Zoning code
OR
APN
24271906070000
UPID
US87-3909011
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
-
CP Shuckers Cafe & Raw Bar Restaurant
-
LaCrosse State Charitable Organization Social Service Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$330k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$728k
Blend (final)
Blend
$530k
Owner & transaction history
2407 Pacific Ave LLC · 9 yrs held
2407 Pacific Ave LLC
since 2016
6 recorded transactions
Zoning & alternative use
OR · 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
$330,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$530k
Range $477k – $583k · ±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
$104 / 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
$17,289
Tax year 2024
Assessed value
$1,746,400
Assessed 2024
Previous assessed
$1,746,400
+0.0% YoY
Effective rate
0.99%
On assessed value
Assessed land
$1,262,600
Assessed improvement
$483,800
Land market value
$1,262,600
Improvement market value
$483,800
Total market value
$1,746,400
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
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
1962
Construction
TYPE NOT SPECIFIED
Heating
YES
Stories
2
Total area
5,077 SF
Lot
0.26 ac (11,159 SF)
Zoning code
OR
APN
24271906070000
UPID
US87-3909011
Jurisdiction
VIRGINIA BEACH CITY
Zoning & alternative use
OR · Virginia Beach, VA
Zoning OR · permitted uses
OR · 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.
Building & site characteristics
From public records
Year built
1962
Construction
TYPE NOT SPECIFIED
Heating
YES
Stories
2
Lot
0.26 ac
Current owner
From public records · entity-resolved
2407 Pacific Ave LLC
Entity
Mailing address
2407 PACIFIC AVE, VIRGINIA BEACH, VA 23451-3241
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2016
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
Aug 4, 2016
$50,000
2407 Pacific Ave LLC
Rankin,owen K & Michele J
Grant Deed
related
$1,025,000 · Bank Of Hampton Roads
Oct 30, 2006
$105,000
Owen K Rankin
2407 Pacific Avenue LLC
Grant Deed
—
May 11, 2006
$125,000
Owen K Rankin
2407 Pacific Avenue LLC
Grant Deed
—
May 5, 2006
$1,250,000
2407 Pacific Avenue LLC
D & D Holdings LLC
Grant Deed
$900,000 · D&d Holdings LLC
May 5, 2006
—
Richardson John W Tr
2407 Pacific Avenue LLC
Grant Deed
related
—
—
—
2407 Pacific Avenue LLC
—
Deed Of Trust
related
$250,000 · Bank Of Commonwealth
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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