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Property profile & analytics
OFF-MARKET
Estimated value
$3,325,000
Warehouses
2682 Dean Dr Virginia Beach, VA 23452-7438
Entity Owned
4-yr Hold
Absentee Owner
Free & Clear
Property ID
US87-0632017
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
1973
Total area
30,000 SF
Lot
2.56 ac (111,688 SF)
Zoning code
I1
APN
14976309360000
UPID
US87-0632017
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
-
R.E. Michel Company Big Box & Wholesale Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.68M
CAP Approach
CAP
$4.05M
Comparable Approach
Comparable
$2.68M
Blend (final)
Blend
$3.33M
Owner & transaction history
Skywater Virginia Beach LLC · 4 yrs held
Skywater Virginia Beach LLC
since 2021
Last sale
$3.0M
4 recorded transactions
Zoning & alternative use
I1 · Virginia Beach, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Industrial (general)
$5.1M
+19.4%
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
$3,540,000
ML approach
$3,680,000
CAP Approach
CAP Return
Estimation
6%
$4,390,000
6.5%
$4,050,000
7%
$3,760,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$4,290,000
Current use
INDUSTRIAL (GENERAL)
$5,125,000
Change: +19% · Conversion: Easy
Blend value · Realmo final
$3.33M
Range $2.99M – $3.66M · ±10% · vs last sale $3.00M (Oct 26 2021)
Last sale anchor
$3.00M
Oct 26 2021
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
$111 / 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
$16,785
Tax year 2024
Assessed value
$1,730,400
Assessed 2024
Previous assessed
$1,730,400
+0.0% YoY
Effective rate
0.97%
On assessed value
Assessed land
$474,700
Assessed improvement
$1,255,700
Land market value
$474,700
Improvement market value
$1,255,700
Total market value
$1,730,400
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
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Status
Off-Market
Year built
1973
Heating
YES
Stories
1
Total area
30,000 SF
Lot
2.56 ac (111,688 SF)
Zoning code
I1
APN
14976309360000
UPID
US87-0632017
Jurisdiction
VIRGINIA BEACH CITY
Zoning & alternative use
I1 · Virginia Beach, VA
Zoning I1 · permitted uses
I1 · 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
WAREHOUSE, STORAGE Current
Est. value
$4.3M
INDUSTRIAL (GENERAL)
Est. value
$5.1M
WAREHOUSE, STORAGE 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
1973
Heating
YES
Stories
1
Lot
2.56 ac
Current owner
From public records · entity-resolved
Skywater Virginia Beach LLC
Entity
Free & Clear · 4 yrs held
Mailing address
1 RE MICHEL DR, GLEN BURNIE, MD 21060-6408
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2021
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
Oct 26, 2021
$3,000,000
Skywater Virginia Beach LLC
Atlantic Asset Management Group INC
Deed
—
Sep 4, 2019
—
Atlantic Asset Manangement Group In
—
Deed
related
$480,000 · Townebank
—
—
Atlantic Asset Mgmt Grp INC
—
Deed Of Trust
related
$700,000 · Bank@lantec
—
—
Atlantic Asset Mgmt Group INC
—
Deed Of Trust
related
$700,000 · Bank@lantec
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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