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Property profile & analytics
OFF-MARKET
Estimated value
$2,540,000
Hotels
311 16th St 202 Virginia Beach, VA 23451-3450
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US87-0632307
Property profile
Verified
Property type
Hotels
Use group
HOTEL/MOTEL
Year built
1977
Construction
TYPE NOT SPECIFIED
Total area
14,914 SF
Lot
0.33 ac (14,185 SF)
Zoning code
OR
APN
24271627710000
UPID
US87-0632307
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
-
Alamar Resort Inn Hotel & Motel
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.44M
CAP Approach
CAP
$1.73M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.54M
Owner & transaction history
Sri Ganpatiji LLC · 4 yrs held
Sri Ganpatiji LLC
since 2022
Last sale
$2.7M
7 recorded transactions
Zoning & alternative use
OR · Virginia Beach, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
$2,415,000
ML approach
$2,435,000
CAP Approach
CAP Return
Estimation
6%
$1,870,000
6.5%
$1,725,000
7%
$1,605,000
Blend value · Realmo final
$2.54M
Range $2.29M – $2.79M · ±10% · vs last sale $2.65M (Feb 18 2022)
Last sale anchor
$2.65M
Feb 18 2022
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
$170 / 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
$19,119
Tax year 2024
Assessed value
$1,931,200
Assessed 2024
Previous assessed
$1,931,200
+0.0% YoY
Effective rate
0.99%
On assessed value
Assessed land
$1,120,000
Assessed improvement
$811,200
Land market value
$1,120,000
Improvement market value
$811,200
Total market value
$1,931,200
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
Hotels
Use group
HOTEL/MOTEL
Status
Off-Market
Year built
1977
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
3
Units
22
Total area
14,914 SF
Lot
0.33 ac (14,185 SF)
Zoning code
OR
APN
24271627710000
UPID
US87-0632307
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.
Building & site characteristics
From public records
Year built
1977
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
3
Units
22
Lot
0.33 ac
Current owner
From public records · entity-resolved
Sri Ganpatiji LLC
Entity
Mailing address
311 16TH ST APT #202, VIRGINIA BEACH, VA 23451-3450
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 18, 2022
$2,650,000
Sri Ganpatiji LLC
Vab16 INC
Deed
$2,200,000 · Townebank
Feb 13, 2018
—
Vab16 INC
—
Deed
related
$1,500,000 · Towne Bk
May 18, 2017
$2,000,000
Vab16 INC
Al Mare LLC
Grant Deed
$1,600,000 · Towne Bk
Feb 21, 2008
$2,450,000
Al Mare LLC
Simpson,nolly P III
Grant Deed
$2,082,500 · Bank Of Commonwealth
—
—
Al Mare LLC
—
Deed Of Trust
related
$1,065,000 · Abnb FCU
—
—
Al Mare LLC
—
Loan Modification
related
$404,323 · Navy FCU
—
—
Vab16 INC
—
Deed Of Trust
related
$1,500,000 · 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.
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