Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    3002 Virginia Bch Blvd Virginia Beach, VA 23452-6904

    • Specialty properties
    • 2,112 SF
    • 0.64 lot acres
    OFF-MARKET
    Last Sale
    Sep 10, 2024
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US87-0757761
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Veterinary Hospital of Virginia Beach / Animal Hospital / Emergency Veterinarian Service

    Property Details for 3002 Virginia Bch Blvd

    Year built
    1950
    Construction
    TYPE NOT SPECIFIED
    Lot size
    0.64 lot acres
    Property size
    2,112 SF
    Zone code
    B2
    Property type
    Specialty properties
    APN
    14972518010000
    APU
    14972518010000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Virginia Beach
    County
    Virginia Beach City
    State
    Virginia
    Longitude
    -76.0764
    Latitude
    36.844
    CBSA code
    47260
    CBSA name
    VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $11,051
    $935,000
    $181,300
    $1,116,300
    -
    $935,000
    $181,300
    $1,116,300

    Comparable in this City

    • Value Estimation
      $690,000
      6,596 SF

      4340 Virginia Bch Blvd

      VETERINARY, ANIMAL HOSPITAL • 6,596 SF
      4340 Virginia Bch Blvd, Virginia Beach, VA 23452-1238
      View Details
    • Value Estimation by Request
      4,822 SF

      2800 Lynnhaven Rd

      VETERINARY, ANIMAL HOSPITAL • 4,822 SF
      2800 Lynnhaven Rd, Virginia Beach, VA 23452-6768
      View Details
    • Value Estimation by Request
      2,035 SF

      Virginia Beach, VA 23452

      CHARITABLE ORGANIZATION • 2,035 SF
      Virginia Beach, VA 23452
      View Details
    • Value Estimation
      $600,000
      3,504 SF

      296 Kings Grant Rd

      COMMERCIAL MISC • 3,504 SF
      296 Kings Grant Rd, Virginia Beach, VA 23452
      View Details
    • Value Estimation by Request
      10,170 SF

      2620 Southern Blvd

      CHARITABLE ORGANIZATION • 10,170 SF
      2620 Southern Blvd, Virginia Beach, VA 23452-7414
      View Details
    • Value Estimation
      $565,000
      8,252 SF

      265 Kings Grant Rd Ste, Unit 100

      CHARITABLE ORGANIZATION • 8,252 SF
      265 Kings Grant Rd Ste, Virginia Beach, VA 23452-6834
      View Details

    Similar Nearby for Sale

    • New
      $850,000
      2,097 SF

      Commercial Property on Virginia Beach Blvd

      Freestanding commercial building with high visibility and redevelopment potential.
      3794 Virginia Beach Blvd, Virginia Beach, VA 23452
      View Details
    • $6,100,000
      7,370 SF

      NNN Red Lobster For Sale

      NNN Red Lobster with 5.25% cap rate for sale.
      821 Lynnhaven Pkwy, Virginia Beach, VA 23452
      View Details
    • $5,600,000
      33,420 SF

      Renovated Class A Office Building

      Class A office building in Lynnhaven submarket, renovated in 2018.
      468 Viking Dr, Virginia Beach, VA 23452
      View Details
    • $1,790,000
      5,150 SF

      Virginia Beach Retail Investment Opportunity

      Two-tenant shopping center in high-traffic Pembroke/Thalia location.
      4336 Virginia Beach Blvd, Virginia Beach, VA 23452
      View Details
    • $95,000

      Land in Virginia Beach

      Land available for sale in Virginia Beach, Virginia.
      -1/4AC S Rosemont Rd, Virginia Beach, VA 23452
      View Details
    • Contact for pricing
      62,300 SF

      Class A Office Building, VA Beach

      62,300 SF, 96% Occupancy, High NOI
      4525 South Blvd, Virginia Beach, VA 23452
      View Details

    Similar Nearby for Lease

    • $12 SF/Yr
      29,545 SF

      Virginia Beach Warehouse For Lease

      Large industrial warehouse, fully vacant.
      889 Seahawk Cir, Virginia Beach, VA 23452
      View Details
    • $17 SF/Yr
      31,464 SF

      Virginia Beach Office Space Available

      Modern Office Suites in Prime Location
      101 Lynnhaven Rd, Virginia Beach, VA 23452
      View Details
    • $20 SF/Yr
      49,417 SF

      Prime Virginia Beach Office Space

      Executive Suites, 1,464-8,268 SF Available
      397 Little Neck Rd, Virginia Beach, VA 23452
      View Details
    • $21 SF/Yr
      16,000 SF

      Prime Virginia Beach Office Space

      3,590 SF Office, Central Location
      361 Southport Cir, Virginia Beach, VA 23452
      View Details
    • $16 SF/Yr
      1,000 SF

      Office Space For Rent

      Office space available for lease in Virginia Beach, VA.
      420 Investors Pl, Virginia Beach, VA 23452
      View Details
    • $20 SF/Yr
      3,123 SF

      Virginia Beach Boulevard Office Space

      Office suites available with direct access and ample parking.
      3145 Virginia Beach Blvd, Virginia Beach, VA 23452
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    3002 Virginia Bch Blvd
    Virginia Beach, VA 23452-6904
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.