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Property profile & analytics
FOR LEASE
Office buildings
300 32Nd St Virginia Beach, VA 23451
Entity Owned
14-yr Hold
~
Est. High Equity
Property ID
US87-1653193
For Lease
1 / 3
$25 SF/Yr
300 32Nd St, Virginia Beach, VA 23451
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
2012
Construction
STEEL FRAME
Total area
71,770 SF
Zoning code
OR
APN
24280202536000
UPID
US87-1653193
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
-
Borza Wealth Management Group of Raymond James Financial Advisor
-
Gold Key PHR Hotel & Motel
-
Cindy Caskey - Realtor, CRS, ABR, SRES, MRP, SFR, e-PRO Real Estate Agency
-
Oceanfront Office Real Estate Agency
-
Coastal Management Solutions Business Management Consultant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$15.68M
Comparable Approach
Comparable
$19.16M
Blend (final)
Blend
$15.57M
Owner & transaction history
Hi Sea Office LLC · 14 yrs held
Hi Sea Office LLC
since 2012
4 recorded transactions
Zoning & alternative use
OR · Virginia Beach, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$25.3M
+36.3%
Commercial (general)
$24.6M
+32.5%
Retail stores
$20.7M
+11.7%
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%
$16,980,000
6.5%
$15,675,000
7%
$14,555,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$18,580,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$25,320,000
Change: +36% · Conversion: Difficult
COMMERCIAL (GENERAL)
$24,615,000
Change: +32% · Conversion: Easy
RETAIL STORES
$20,745,000
Change: +12% · Conversion: Moderate
MEDICAL BUILDING
$16,895,000
Change: -9% · Conversion: Easy
Blend value · Realmo final
$15.57M
Range $14.01M – $17.12M · ±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
$217 / 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
$113,643
Tax year 2024
Assessed value
$11,479,100
Assessed 2024
Previous assessed
$11,479,100
+0.0% YoY
Effective rate
0.99%
On assessed value
Assessed land
$2,149,700
Assessed improvement
$9,329,400
Land market value
$2,149,700
Improvement market value
$9,329,400
Total market value
$11,479,100
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
2012
Construction
STEEL FRAME
Heating
NONE
Stories
5
Total area
71,770 SF
Zoning code
OR
APN
24280202536000
UPID
US87-1653193
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
OFFICE BUILDING Current
Est. value
$18.6M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$25.3M
COMMERCIAL (GENERAL)
Est. value
$24.6M
RETAIL STORES
Est. value
$20.7M
MEDICAL BUILDING
Est. value
$16.9M
OFFICE BUILDING Current
NEIGHBORHOOD: SHOPPING CENTER
COMMERCIAL (GENERAL)
RETAIL STORES
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
2012
Construction
STEEL FRAME
Heating
NONE
Stories
5
Current owner
From public records · entity-resolved
Hi Sea Office LLC
Entity
Mailing address
300 32ND ST STE #500, VIRGINIA BEACH, VA 23451-2968
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2012
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 10, 2018
—
Hi-sea Office LLC
—
Deed
related
$10,219,082 · Towne Bk
Jan 25, 2012
—
Hi Sea Office LLC
Hi Sea LLC
Quit Claim Deed
related
$9,999,662 · Monarch Bank
—
—
Hi-sea Office LLC
—
Deed Of Trust
related
$11,000,000 · Bayport Cu
—
—
Hi-sea Office LLC
—
Deed Of Trust
related
$10,219,082 · Towne 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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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