New search
Property profile & analytics
OFF-MARKET
Estimated value
$8,585,000
Office buildings
397 Little Nck Rdn108, Virginia Beach, VA 23452-5765
Entity Owned
~
Est. High Equity
Property ID
US87-1299658
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
1988
Construction
TYPE NOT SPECIFIED
Total area
49,874 SF
Lot
4.13 ac (180,033 SF)
Zoning code
B2
APN
14877553730000
UPID
US87-1299658
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
-
Rosemont Chiropractic Alternative Medicine Practice
-
Southeast Spine and Wellness Center Alternative Medicine Practice
-
Andrew Becker Law Office Law Firm
-
William B. Parkhurst, P.C. Law Firm
-
Fitness 24-7 Gym & Fitness Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$11.60M
Comparable Approach
Comparable
$9.19M
Blend (final)
Blend
$8.59M
Owner & transaction history
Little Neck Office Park LLC
Little Neck Office Park LLC
1 recorded transaction
Zoning & alternative use
B2 · Virginia Beach, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$11.7M
+64.1%
Industrial (general)
$8.5M
+19.1%
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%
$12,565,000
6.5%
$11,595,000
7%
$10,770,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$7,155,000
Current use
MEDICAL BUILDING
$11,740,000
Change: +64% · Conversion: Easy
INDUSTRIAL (GENERAL)
$8,520,000
Change: +19% · Conversion: Difficult
Blend value · Realmo final
$8.59M
Range $7.73M – $9.44M · ±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
$172 / 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
$79,917
Tax year 2024
Assessed value
$8,072,400
Assessed 2024
Previous assessed
$8,072,400
+0.0% YoY
Effective rate
0.99%
On assessed value
Assessed land
$2,754,500
Assessed improvement
$5,317,900
Land market value
$2,754,500
Improvement market value
$5,317,900
Total market value
$8,072,400
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
1988
Construction
TYPE NOT SPECIFIED
Heating
YES
Buildings
2
Stories
3
Total area
49,874 SF
Lot
4.13 ac (180,033 SF)
Zoning code
B2
APN
14877553730000
UPID
US87-1299658
Jurisdiction
VIRGINIA BEACH CITY
Zoning & alternative use
B2 · Virginia Beach, VA
Zoning B2 · permitted uses
B2 · 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
$7.2M
MEDICAL BUILDING
Est. value
$11.7M
INDUSTRIAL (GENERAL)
Est. value
$8.5M
OFFICE BUILDING Current
MEDICAL BUILDING
INDUSTRIAL (GENERAL)
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
1988
Construction
TYPE NOT SPECIFIED
Heating
YES
Stories
3
Buildings
2
Lot
4.13 ac
Current owner
From public records · entity-resolved
Little Neck Office Park LLC
Entity
Mailing address
PO BOX 2008, VIRGINIA BEACH, VA 23450-2008
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
—
—
Little Neck Office Park LLC
—
Deed Of Trust
related
$5,500,000 · Cmfg Life Ins Co
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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 397 Little Nck Rdn108?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
