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Property profile & analytics
OFF-MARKET
Estimated value
$3,530,000
Office buildings
253 Town Ctr Dr Virginia Beach, VA 23462-3041
Entity Owned
13-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US87-0641016
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
2003
Construction
CONCRETE
Total area
17,740 SF
Zoning code
B3A
APN
14775540310004
UPID
US87-0641016
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
-
FOHTA Association / Organization
-
Defensive Driving Clinic Training Center Vocational School
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$3.70M
Comparable Approach
Comparable
$3.91M
Blend (final)
Blend
$3.53M
Owner & transaction history
Armada Hoffler Tower 4 LLC · 13 yrs held
Armada Hoffler Tower 4 LLC
since 2013
1 recorded transaction
Zoning & alternative use
B3A · Virginia Beach, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$5.1M
+67.0%
Medical building
$4.2M
+36.0%
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%
$4,005,000
6.5%
$3,695,000
7%
$3,430,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$3,070,000
Current use
RETAIL STORES
$5,130,000
Change: +67% · Conversion: Moderate
MEDICAL BUILDING
$4,175,000
Change: +36% · Conversion: Easy
INDUSTRIAL (GENERAL)
$2,600,000
Change: -15% · Conversion: Difficult
Blend value · Realmo final
$3.53M
Range $3.18M – $3.88M · ±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
$199 / 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
$41,347
Tax year 2024
Assessed value
$4,176,500
Assessed 2024
Previous assessed
$4,176,500
+0.0% YoY
Effective rate
0.99%
On assessed value
Assessed land
$111,800
Assessed improvement
$4,064,700
Land market value
$111,800
Improvement market value
$4,064,700
Total market value
$4,176,500
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 (MULTI-STORY)
Status
Off-Market
Year built
2003
Construction
CONCRETE
Heating
YES
Cooling
CENTRAL
Stories
1
Total area
17,740 SF
Zoning code
B3A
APN
14775540310004
UPID
US87-0641016
Jurisdiction
VIRGINIA BEACH CITY
Zoning & alternative use
B3A · Virginia Beach, VA
Zoning B3A · permitted uses
B3A · 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
$3.1M
RETAIL STORES
Est. value
$5.1M
MEDICAL BUILDING
Est. value
$4.2M
INDUSTRIAL (GENERAL)
Est. value
$2.6M
OFFICE BUILDING Current
RETAIL STORES
MEDICAL BUILDING
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
2003
Construction
CONCRETE
Heating
YES
Cooling
Yes
Stories
1
Current owner
From public records · entity-resolved
Armada Hoffler Tower 4 LLC
Entity
Mailing address
4500 MAIN ST STE #300, VIRGINIA BEACH, VA 23462-3360
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 14, 2013
—
Armada Hoffler Tower 4 LLC
—
Deed Of Trust
related
$250,000,000 · Bank Of America
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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