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Property profile & analytics
OFF-MARKET
Estimated value
$9,965,000
Office buildings
277 Bendix Rd Virginia Beach, VA 23452-1361
Entity Owned
Absentee Owner
Free & Clear
Property ID
US87-0962763
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
2002
Construction
STEEL FRAME
Total area
83,866 SF
Lot
6.13 ac (267,101 SF)
Zoning code
O2
APN
14777129530000
UPID
US87-0962763
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
-
Oast & Taylor Law Firm
-
VAV Rehab - Addiction Treatment Center Medical Clinic
-
Edelman Financial Engines Financial Advisor
-
Konica Minolta Business Solutions Commercial Printer Computer Consultant
-
All Covered IT Consulting Firm (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$12.97M
Blend (final)
Blend
$9.97M
Owner & transaction history
OLYMPIA BENDIX TWO LLC
OLYMPIA BENDIX TWO LLC
Zoning & alternative use
O2 · Virginia Beach, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The O-2 Office District is intended for larger scale office and institutional structures and uses in areas where public facilities are available and where conflicts with residential neighborhoods can be avoided.
Zone name
Office
General category
CIVIC_INSTITUTIONAL
Source
Realmo
Top alternative use upside
Industrial (general)
$14.3M
+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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$12,030,000
Current use
INDUSTRIAL (GENERAL)
$14,325,000
Change: +19% · Conversion: Difficult
Blend value · Realmo final
$9.97M
Range $8.97M – $10.96M · ±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
$119 / 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
$112,746
Tax year 2024
Assessed value
$11,388,500
Assessed 2024
Previous assessed
$11,388,500
+0.0% YoY
Effective rate
0.99%
On assessed value
Assessed land
$2,693,000
Assessed improvement
$8,695,500
Land market value
$2,693,000
Improvement market value
$8,695,500
Total market value
$11,388,500
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
2002
Construction
STEEL FRAME
Heating
YES
Buildings
2
Stories
5
Total area
83,866 SF
Lot
6.13 ac (267,101 SF)
Zoning code
O2
APN
14777129530000
UPID
US87-0962763
Jurisdiction
VIRGINIA BEACH CITY
Zoning & alternative use
O2 · Virginia Beach, VAZoning O2 · permitted uses
O2 · Virginia Beach, VA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The O-2 Office District is intended for larger scale office and institutional structures and uses in areas where public facilities are available and where conflicts with residential neighborhoods can be avoided.
Zone name
Office
General category
CIVIC_INSTITUTIONAL
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$12.0M
INDUSTRIAL (GENERAL)
Est. value
$14.3M
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
2002
Construction
STEEL FRAME
Heating
YES
Stories
5
Buildings
2
Lot
6.13 ac
Current owner
From public records · entity-resolved
OLYMPIA BENDIX TWO LLC
Entity
Free & Clear · 0 yrs held
Mailing address
272 BENDIX RD STE #200, VIRGINIA BEACH, VA 23452-1367
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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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