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Property profile & analytics
OFF-MARKET
Estimated value
$595,000
Office buildings
2408 Princess Anne Rd Virginia Beach, VA 23456-3409
Individually Owned
12-yr Hold
~
Est. High Equity
Property ID
US87-0881625
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1960
Construction
FRAME
Total area
2,569 SF
Lot
0.88 ac (38,202 SF)
Zoning code
B2
APN
14949246060000
UPID
US87-0881625
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
$520k
Comparable Approach
Comparable
$683k
Blend (final)
Blend
$595k
Owner & transaction history
2400 Princess Anne Road Invest · 12 yrs held
2400 Princess Anne Road Invest
since 2013
3 recorded transactions
Zoning & alternative use
B2 · Virginia Beach, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$905,000
+91.3%
Commercial (general)
$880,000
+86.0%
Retail stores
$745,000
+56.8%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$560,000
6.5%
$520,000
7%
$480,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$475,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$905,000
Change: +91% · Conversion: Difficult
COMMERCIAL (GENERAL)
$880,000
Change: +86% · Conversion: Easy
RETAIL STORES
$745,000
Change: +57% · Conversion: Moderate
MEDICAL BUILDING
$605,000
Change: +28% · Conversion: Easy
Blend value · Realmo final
$595k
Range $536k – $655k · ±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
$232 / 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
$8,876
Tax year 2024
Assessed value
$896,600
Assessed 2024
Previous assessed
$896,600
+0.0% YoY
Effective rate
0.99%
On assessed value
Assessed land
$504,300
Assessed improvement
$392,300
Land market value
$504,300
Improvement market value
$392,300
Total market value
$896,600
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 buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1960
Construction
FRAME
Heating
YES
Buildings
3
Stories
1
Total area
2,569 SF
Lot
0.88 ac (38,202 SF)
Zoning code
B2
APN
14949246060000
UPID
US87-0881625
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
OFFICE BUILDING Current
Est. value
$475,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$905,000
COMMERCIAL (GENERAL)
Est. value
$880,000
RETAIL STORES
Est. value
$745,000
MEDICAL BUILDING
Est. value
$605,000
OFFICE BUILDING Current
NEIGHBORHOOD: SHOPPING CENTER
COMMERCIAL (GENERAL)
RETAIL STORES
MEDICAL BUILDING
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
1960
Construction
FRAME
Heating
YES
Stories
1
Buildings
3
Lot
0.88 ac
Current owner
From public records · entity-resolved
2400 Princess Anne Road Invest
Individual
Mailing address
PO BOX 2491, NORFOLK, VA 23501-2491
Ownership since
2013
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 7, 2021
—
2400 Princess Anne Road Investments
—
Deed
related
$2,662,000 · Truist Bank
Dec 17, 2013
$3,200,000
2400 Princess Anne Road Invest
Sisters II LLC
Grant Deed
$2,400,000 · Langley FCU
Dec 20, 2007
—
Anne G Kellam
Kellam,floyd E
Quit Claim 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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