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Property profile & analytics
OFF-MARKET
Estimated value
$2,815,000
Retail space
2800 Atlantic Ave A Virginia Beach, VA 23451-3028
Individually Owned
12-yr Hold
Free & Clear
Property ID
US87-0829739
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1982
Construction
TYPE NOT SPECIFIED
Total area
5,400 SF
Lot
0.21 ac (9,044 SF)
Zoning code
OR
APN
24280181190000
UPID
US87-0829739
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
-
Forbes Candies & Ice Cream - 28th Street Specialty Food Shop Candy Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.28M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.01M
Blend (final)
Blend
$2.82M
Owner & transaction history
Atlantic Winds Of 28th Street · 12 yrs held
Atlantic Winds Of 28th Street
since 2014
Last sale
$2.8M
3 recorded transactions
Zoning & alternative use
OR · Virginia Beach, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$3.8M
+145.0%
Restaurant
$2.4M
+55.9%
Neighborhood: shopping center
$1.9M
+22.1%
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
$3,250,000
ML approach
$3,275,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
AUTO REPAIR, GARAGE
$3,825,000
Change: +145% · Conversion: Difficult
RESTAURANT
$2,435,000
Change: +56% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$1,905,000
Change: +22% · Conversion: Moderate
COMMERCIAL (GENERAL)
$1,850,000
Change: +19% · Conversion: Easy
Blend value · Realmo final
$2.82M
Range $2.53M – $3.10M · ±10% · vs last sale $2.78M (Jun 15 2020)
Last sale anchor
$2.78M
Jun 15 2020
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
$521 / 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
$14,340
Tax year 2024
Assessed value
$1,448,500
Assessed 2024
Previous assessed
$1,448,500
+0.0% YoY
Effective rate
0.99%
On assessed value
Assessed land
$1,215,000
Assessed improvement
$233,500
Land market value
$1,215,000
Improvement market value
$233,500
Total market value
$1,448,500
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1982
Construction
TYPE NOT SPECIFIED
Heating
YES
Stories
1
Total area
5,400 SF
Lot
0.21 ac (9,044 SF)
Zoning code
OR
APN
24280181190000
UPID
US87-0829739
Jurisdiction
VIRGINIA BEACH CITY
Zoning & alternative use
OR · Virginia Beach, VA
Zoning OR · permitted uses
OR · 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
AUTO REPAIR, GARAGE
Est. value
$3.8M
RESTAURANT
Est. value
$2.4M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.9M
COMMERCIAL (GENERAL)
Est. value
$1.9M
AUTO REPAIR, GARAGE
RESTAURANT
NEIGHBORHOOD: SHOPPING CENTER
COMMERCIAL (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
1982
Construction
TYPE NOT SPECIFIED
Heating
YES
Stories
1
Lot
0.21 ac
Current owner
From public records · entity-resolved
Atlantic Winds Of 28th Street
Individual
Free & Clear · 12 yrs held
Mailing address
2800 ATLANTIC AVE, VIRGINIA BEACH, VA 23451-3028
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2014
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
Mar 31, 2014
$2,000,000
Atlantic Winds Of 28th Street
Nkr Ents I LLC
Grant Deed
—
Mar 19, 2007
—
Nkr Ents I LLC
Renesis J N Family Trust
Grant Deed
$600,000 · Suntrust Bank NA
—
—
Nkr Ents I LLC
—
Deed Of Trust
related
$925,000 · Bank Of Commonwealth
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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