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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2708 Mall Dr Virginia Beach, VA 23452-7221

    • Drive through restaurants
    • 3,084 SF
    • 0.85 lot acres
    OFF-MARKET
    Last Sale
    Mar 01, 2023
    Value Estimations
    $390,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US87-1011488
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Burger King / Fast Food Restaurant / Restaurant

    Property Details for 2708 Mall Dr

    Year built
    1984
    Construction
    FRAME
    Lot size
    0.85 lot acres
    Property size
    3,084 SF
    Zone code
    B2
    Property type
    Drive through restaurants
    APN
    14964775270000
    APU
    14964775270000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $375,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $411,000
      Market price range: $228k - $522k

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Virginia Beach
    County
    Virginia Beach City
    State
    Virginia
    Longitude
    -76.068
    Latitude
    36.821
    CBSA code
    47260
    CBSA name
    VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $12,482
    $816,400
    $444,400
    $1,260,800
    -
    $816,400
    $444,400
    $1,260,800

    Comparable in this City

    • Value Estimation
      $420,000
      2,596 SF

      808 Lynnhaven Pkwy

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,596 SF
      808 Lynnhaven Pkwy, Virginia Beach, VA 23452-7202
      View Details
    • Value Estimation
      $460,000
      3,784 SF

      3342 Virginia Bch Blvd

      DRIVE-THRU RESTAURANT, FAST FOOD • 3,784 SF
      3342 Virginia Bch Blvd, Virginia Beach, VA 23452-5620
      View Details
    • Value Estimation
      $300,000
      1,674 SF

      217 Rosemont Rd

      DRIVE-THRU RESTAURANT, FAST FOOD • 1,674 SF
      217 Rosemont Rd, Virginia Beach, VA 23452-4221
      View Details
    • Value Estimation
      $305,000
      1,886 SF

      3341 Virginia Bch Blvd

      DRIVE-THRU RESTAURANT, FAST FOOD • 1,886 SF
      3341 Virginia Bch Blvd, Virginia Beach, VA 23452-5616
      View Details
    • Value Estimation
      $375,000
      1,488 SF

      4232 Holland Rd

      DRIVE-THRU RESTAURANT, FAST FOOD • 1,488 SF
      4232 Holland Rd, Virginia Beach, VA 23452-1907
      View Details
    • Value Estimation
      $325,000
      2,437 SF

      3324 Holland Rd

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,437 SF
      3324 Holland Rd, Virginia Beach, VA 23452-4826
      View Details

    Similar Nearby for Sale

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      7,370 SF

      NNN Red Lobster For Sale

      NNN Red Lobster with 5.25% cap rate for sale.
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      Commercial Property on Virginia Beach

      High-visibility commercial property suitable for auto repair business.
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    • $2,950,000
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      Retail Building with Ample Parking

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      Virginia Beach Retail Investment Opportunity

      Two-tenant shopping center in high-traffic Pembroke/Thalia location.
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    • $1,250,000
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    Similar Nearby for Lease

    • Contact for pricing
      1,400 SF

      Retail Space Near Lynnhaven Mall

      Retail space available across from Lynnhaven Regional Mall.
      796 Lynnhaven Pkwy, Virginia Beach, VA 23452
      View Details
    • $28 SF/Yr
      2,400 SF

      Retail Space Near Kroger

      Retail spaces available adjacent to Kroger in Virginia Beach.
      3901 Holland Rd, Virginia Beach, VA 23452
      View Details
    • $17 SF/Yr
      1,080 SF

      Retail Space in Neighborhood Center

      Retail space available in 7-11 anchored neighborhood center.
      316-334 Lynn Shores Dr, Virginia Beach, VA 23452
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    • Contact for pricing
      5,300 SF

      Retail Space in Virginia Beach

      5,300 SF retail space available for lease.
      3501 Holland Rd, Virginia Beach, VA 23452
      View Details
    • Contact for pricing
      1,530 SF

      Retail Space Near Lynnhaven Mall

      Retail space with superior access and visibility near Lynnhaven Mall.
      2704 N Mall Dr, Virginia Beach, VA 23452
      View Details
    • $28 SF/Yr
      1,500 SF

      Retail Space on Holland Road

      Retail space with high visibility and ample parking.
      4356-4360 Holland Rd, Virginia Beach, VA 23452
      View Details
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    2708 Mall Dr
    Virginia Beach, VA 23452-7221
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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