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Property profile & analytics
OFF-MARKET
Estimated value
$1,705,000
Retail space
2980 Virginia Bch Blvd Virginia Beach, VA 23452-6902
Entity Owned
5-yr Hold
Absentee Owner
Free & Clear
Property ID
US87-1257285
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1978
Construction
FRAME
Total area
7,711 SF
Lot
0.4 ac (17,250 SF)
Zoning code
B2
APN
14972519630000
UPID
US87-1257285
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
-
Blue Horse Shoe Tattoo and Piercing Tattoo & Piercing Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.85M
CAP Approach
CAP
$1.24M
Comparable Approach
Comparable
$2.09M
Blend (final)
Blend
$1.71M
Owner & transaction history
Lynnhaven Inv Ptrs I LLC · 5 yrs held
Lynnhaven Inv Ptrs I LLC
since 2020
Last sale
$1.6M
7 recorded transactions
Zoning & alternative use
B2 · Virginia Beach, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$2.7M
+22.1%
Commercial (general)
$2.6M
+18.6%
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
$1,860,000
ML approach
$1,845,000
CAP Approach
CAP Return
Estimation
6%
$1,345,000
6.5%
$1,240,000
7%
$1,155,000
Alternative Use
Use
Estimation
RETAIL STORES
$2,230,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$2,720,000
Change: +22% · Conversion: Moderate
COMMERCIAL (GENERAL)
$2,645,000
Change: +19% · Conversion: Easy
MEDICAL BUILDING
$1,815,000
Change: -19% · Conversion: Difficult
Blend value · Realmo final
$1.71M
Range $1.53M – $1.88M · ±10% · vs last sale $1.59M (Nov 20 2020)
Last sale anchor
$1.59M
Nov 20 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
$221 / 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
$11,920
Tax year 2024
Assessed value
$1,204,000
Assessed 2024
Previous assessed
$1,204,000
+0.0% YoY
Effective rate
0.99%
On assessed value
Assessed land
$552,000
Assessed improvement
$652,000
Land market value
$552,000
Improvement market value
$652,000
Total market value
$1,204,000
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
1978
Construction
FRAME
Heating
YES
Stories
1
Total area
7,711 SF
Lot
0.4 ac (17,250 SF)
Zoning code
B2
APN
14972519630000
UPID
US87-1257285
Jurisdiction
VIRGINIA BEACH CITY
Zoning & alternative use
B2 · Virginia Beach, VA
Zoning B2 · permitted uses
B2 · 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
RETAIL STORES Current
Est. value
$2.2M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.7M
COMMERCIAL (GENERAL)
Est. value
$2.6M
MEDICAL BUILDING
Est. value
$1.8M
RETAIL STORES Current
NEIGHBORHOOD: SHOPPING CENTER
COMMERCIAL (GENERAL)
MEDICAL BUILDING
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
1978
Construction
FRAME
Heating
YES
Stories
1
Lot
0.4 ac
Current owner
From public records · entity-resolved
Lynnhaven Inv Ptrs I LLC
Entity
Free & Clear · 5 yrs held
Mailing address
588 CENTRAL DR, VIRGINIA BEACH, VA 23454-5296
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 20, 2020
$1,590,000
Lynnhaven Inv Ptrs I LLC
J B Kelly & Assocs LLC
Warranty Deed
—
Nov 20, 2020
—
Lynnhaven Inv Ptrs I LLC
—
Deed
related
$1,396,000 · Atlantic Union Bk
Nov 25, 2014
$626,015
J B Kelly & Associates LLC
Jato INC
Grant Deed
$1,200,000 · Pnc Bk
Dec 12, 2008
—
Polynesian Pools
—
Trustees Deed
related
$300,000 · Bank Of Commonwealth
—
—
Sharpe,thomas G JR Family Trustus
—
Loan Modification
related
$781,809 · Southern Bank & Trust
—
—
Polynesian Pools
—
Loan Modification
related
$947,681 · Southern Bank & Trust
—
—
Polynesian Pools
—
Loan Modification
related
$851,605 · Southern Bank & Trust
—
—
Polynesian Pools
—
Loan Modification
related
$1,038,466 · Southern Bank & Trust
—
—
Sharpe Thomas G JR Family Trustus
—
Loan Modification
related
$802,993 · Southern Bank & Trust
—
—
Polynesian Pools
—
Loan Modification
related
$807,775 · Southern Bank & Trust
—
—
Lynnhaven Inv Ptrs I LLC
—
Deed Of Trust
related
$1,396,000 · Atlantic Union Bk
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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