Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$3,600,000
Office buildings
2697 Dean Dr Virginia Beach, VA 23452-7431
Entity Owned
1-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US87-1224337
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1983
Construction
TYPE NOT SPECIFIED
Total area
28,444 SF
Lot
1.68 ac (73,137 SF)
Zoning code
I1
APN
14975365380000
UPID
US87-1224337
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
-
Defense Marketing Corporation Advertising Agency Marketing & Advertising
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.60M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.42M
Blend (final)
Blend
$3.60M
Owner & transaction history
2697 Dean Dr LLC · 1 yrs held
2697 Dean Dr LLC
since 2024
Last sale
$3.6M
3 recorded transactions
Zoning & alternative use
I1 · Virginia Beach, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Industrial (general)
$4.9M
+19.1%
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
$3,600,000
ML approach
$3,600,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$4,080,000
Current use
INDUSTRIAL (GENERAL)
$4,860,000
Change: +19% · Conversion: Difficult
Blend value · Realmo final
$3.60M
Range $3.24M – $3.96M · ±10% · vs last sale $3.60M (Sep 11 2024)
Last sale anchor
$3.60M
Sep 11 2024
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
$127 / 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
$29,578
Tax year 2024
Assessed value
$2,987,700
Assessed 2024
Previous assessed
$2,987,700
+0.0% YoY
Effective rate
0.99%
On assessed value
Assessed land
$1,245,100
Assessed improvement
$1,742,600
Land market value
$1,245,100
Improvement market value
$1,742,600
Total market value
$2,987,700
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
1983
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
CENTRAL
Stories
2
Total area
28,444 SF
Lot
1.68 ac (73,137 SF)
Zoning code
I1
APN
14975365380000
UPID
US87-1224337
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
OFFICE BUILDING Current
Est. value
$4.1M
INDUSTRIAL (GENERAL)
Est. value
$4.9M
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
1983
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
Yes
Stories
2
Lot
1.68 ac
Current owner
From public records · entity-resolved
2697 Dean Dr LLC
Entity
Mailing address
4455 SS BLVD STE #500, VIRGINIA BEACH, VA 23452-1387
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
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
Sep 11, 2024
$3,600,000
2697 Dean Dr LLC
Lynnhaven Commerce Center LLC
Deed
$3,100,000 · Lynnhaven Commerce Center LLC
May 10, 2017
$7,575
Lynnhaven Commerce Center LLC
Barrett Street Holdings LLC
Quit Claim Deed
related
—
Mar 6, 2013
—
Barrett Street Holdings LLC
Snyder,m Legare
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 2697 Dean Dr?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
