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Property profile & analytics
FOR LEASE
Office buildings
2901 S Lynnhaven Rd, Virginia Beach, VA 23452
Individually Owned
4-yr Hold
Absentee Owner
Free & Clear
Property ID
US87-0933237
For Lease
1 / 2
$24 SF/Yr
2901 S Lynnhaven Rd, Virginia Beach, VA 23452
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
1998
Construction
TYPE NOT SPECIFIED
Total area
82,212 SF
Lot
4.51 ac (196,408 SF)
Zoning code
O2
APN
14973155870000
UPID
US87-0933237
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$10.65M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$11.56M
Blend (final)
Blend
$11.09M
Owner & transaction history
Charles Rivers Cleveland · 4 yrs held
Charles Rivers Cleveland
since 2021
Last sale
$10.5M
5 recorded transactions
Zoning & alternative use
O2 · Virginia Beach, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Industrial (general)
$14.0M
+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
$12,330,000
ML approach
$10,650,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$11,795,000
Current use
INDUSTRIAL (GENERAL)
$14,040,000
Change: +19% · Conversion: Difficult
Blend value · Realmo final
$11.09M
Range $9.98M – $12.19M · ±10% · vs last sale $10.45M (Aug 27 2021)
Last sale anchor
$10.45M
Aug 27 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
$135 / 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
$100,458
Tax year 2024
Assessed value
$10,147,300
Assessed 2024
Previous assessed
$10,147,300
+0.0% YoY
Effective rate
0.99%
On assessed value
Assessed land
$1,129,500
Assessed improvement
$9,017,800
Land market value
$1,129,500
Improvement market value
$9,017,800
Total market value
$10,147,300
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
For Lease
Year built
1998
Construction
TYPE NOT SPECIFIED
Heating
NONE
Cooling
CENTRAL
Stories
4
Total area
82,212 SF
Lot
4.51 ac (196,408 SF)
Zoning code
O2
APN
14973155870000
UPID
US87-0933237
Jurisdiction
VIRGINIA BEACH CITY
Zoning & alternative use
O2 · Virginia Beach, VA
Zoning 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
Virginia Beach. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$11.8M
INDUSTRIAL (GENERAL)
Est. value
$14.0M
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
1998
Construction
TYPE NOT SPECIFIED
Heating
NONE
Cooling
Yes
Stories
4
Lot
4.51 ac
Current owner
From public records · entity-resolved
Charles Rivers Cleveland
Individual
Free & Clear · 4 yrs held
Mailing address
3500 VIRGINIA BCH BLVD STE #600, VIRGINIA BEACH, VA 23452-4455
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
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 27, 2021
—
Chad D Phillips
—
Deed
related
$365,534 · The Brenda J M Phillips Revocable Living
Sep 29, 2021
—
Charles Rivers Cleveland
Charles R Cleveland
Intrafamily Transfer
related
—
Aug 27, 2021
$10,450,000
Reflections IV LLC
Whitehall LLC
Bargain And Sale Deed
$7,837,500 · Old Point National Bank Of Phoebus
Oct 26, 2011
—
Whitehall LLC
—
Deed Of Trust
related
$6,040,000 · Monarch Bank
—
—
Whitehall LLC
—
Deed Of Trust
related
$6,000,000 · 40/86 Mtg Cap
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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