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Property profile & analytics
OFF-MARKET
Estimated value
$1,295,000
Office buildings
308 35th St Virginia Beach, VA 23451-2869
Entity Owned
22-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US87-3931434
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
1987
Construction
FRAME
Total area
5,824 SF
Lot
0.32 ac (13,772 SF)
Zoning code
O2
APN
24189373610000
UPID
US87-3931434
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
-
Marlyn Development Corporation Construction Company General Contractor
-
Marlyn Development General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.27M
Comparable Approach
Comparable
$1.45M
Blend (final)
Blend
$1.30M
Owner & transaction history
Mc Partners LLC · 22 yrs held
Mc Partners LLC
since 2004
3 recorded transactions
Zoning & alternative use
O2 · Virginia Beach, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$2.1M
+36.3%
Commercial (general)
$2.0M
+32.5%
Retail stores
$1.7M
+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%
$1,380,000
6.5%
$1,270,000
7%
$1,180,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,510,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$2,055,000
Change: +36% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,995,000
Change: +32% · Conversion: Easy
RETAIL STORES
$1,685,000
Change: +12% · Conversion: Moderate
MEDICAL BUILDING
$1,370,000
Change: -9% · Conversion: Easy
Blend value · Realmo final
$1.30M
Range $1.17M – $1.42M · ±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
$222 / 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
$14,200
Tax year 2024
Assessed value
$1,434,300
Assessed 2024
Previous assessed
$1,434,300
+0.0% YoY
Effective rate
0.99%
On assessed value
Assessed land
$1,120,000
Assessed improvement
$314,300
Land market value
$1,120,000
Improvement market value
$314,300
Total market value
$1,434,300
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
Off-Market
Year built
1987
Construction
FRAME
Heating
YES
Cooling
CENTRAL
Stories
2
Total area
5,824 SF
Lot
0.32 ac (13,772 SF)
Zoning code
O2
APN
24189373610000
UPID
US87-3931434
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
$1.5M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.1M
COMMERCIAL (GENERAL)
Est. value
$2.0M
RETAIL STORES
Est. value
$1.7M
MEDICAL BUILDING
Est. value
$1.4M
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
1987
Construction
FRAME
Heating
YES
Cooling
Yes
Stories
2
Lot
0.32 ac
Current owner
From public records · entity-resolved
Mc Partners LLC
Entity
Mailing address
2143 VIS CIR, VIRGINIA BEACH, VA 23451-1023
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2004
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
May 7, 2004
$600,000
Mc Partners LLC
K & H Associates
Grant Deed
$510,000 · Suntrust Bank NA
—
—
M C Partners LLC
—
Deed Of Trust
related
$600,000 · Monarch Bk
—
—
Mc Partners LLC
—
Deed Of Trust
related
$744,000 · Gateway Bank & Trust
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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