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Property profile & analytics
FOR SALE
Banks
351 Independence Blvd Virginia Beach, VA 23462
Entity Owned
22-yr Hold
Absentee Owner
Free & Clear
Property ID
US87-3966175
For Sale
1 / 25
$2,750,000
351 Independence Blvd, Virginia Beach, VA 23462
View Listing →
Property profile
Verified
Property type
Banks
Use group
FINANCIAL BUILDING
Year built
1991
Construction
FRAME
Total area
3,341 SF
Lot
0.75 ac (32,688 SF)
Zoning code
B3
APN
14774612970000
UPID
US87-3966175
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
-
Old Point National Bank Bank Loan Service
-
Old Point National Bank ATM Atm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Old Point Natl Bank Of Phoebus · 22 yrs held
Old Point Natl Bank Of Phoebus
since 2004
2 recorded transactions
Zoning & alternative use
B3 · 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$21,206
Tax year 2024
Assessed value
$2,142,000
Assessed 2024
Previous assessed
$2,142,000
+0.0% YoY
Effective rate
0.99%
On assessed value
Assessed land
$1,482,800
Assessed improvement
$659,200
Land market value
$1,482,800
Improvement market value
$659,200
Total market value
$2,142,000
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
Banks
Use group
FINANCIAL BUILDING
Status
For Sale
Year built
1991
Construction
FRAME
Heating
YES
Cooling
CENTRAL
Stories
1
Total area
3,341 SF
Lot
0.75 ac (32,688 SF)
Zoning code
B3
APN
14774612970000
UPID
US87-3966175
Jurisdiction
VIRGINIA BEACH CITY
Zoning & alternative use
B3 · Virginia Beach, VA
Zoning B3 · permitted uses
B3 · 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
1991
Construction
FRAME
Heating
YES
Cooling
Yes
Stories
1
Lot
0.75 ac
Current owner
From public records · entity-resolved
Old Point Natl Bank Of Phoebus
Entity
Free & Clear · 22 yrs held
Mailing address
10 S MALLORY ST, HAMPTON, VA 23663-1708
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
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 24, 2004
$1,800,000
Old Point Natl Bank Of Phoebus
Maple & Main Redev LLC
Grant Deed
related
—
May 28, 2004
$1,425,000
First Virginia Bank Of Tidewater
Branch Banking & Trust Co Of Va
Grant Deed
related
—
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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