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Property profile & analytics
OFF-MARKET
Estimated value
$64,560,000
Commercial land
4201 Atlantic Ave Virginia Beach, VA 23451-2608
Individually Owned
2-yr Hold
Absentee Owner
Free & Clear
Property ID
US87-2687675
Property profile
Verified
Property type
Commercial land
Use group
VACANT COMMERCIAL LAND
Year built
2019
Construction
CONCRETE
Total area
517,415 SF
Lot
4.27 ac (186,001 SF)
Zoning code
OR
APN
24189660490000
UPID
US87-2687675
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
-
Marriott Virginia Beach Oceanfront Resort Hotel & Motel
-
The Deck Seagrill & Bar Restaurant
-
Orion's Roof Restaurant
-
Tulu Seaside Bar & Grill Bar & Pub Restaurant
-
We Scream Ice Cream and Coffee Shop Cafe & Coffee Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$71.70M
Blend (final)
Blend
$64.56M
Owner & transaction history
Tracee Martin · 2 yrs held
Tracee Martin
since 2023
4 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$64.56M
Range $58.10M – $71.02M · ±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
$125 / 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
$76,941
Tax year 2024
Assessed value
$7,771,800
Assessed 2024
Previous assessed
$7,771,800
+0.0% YoY
Effective rate
0.99%
On assessed value
Assessed land
$7,771,800
Land market value
$7,771,800
Total market value
$7,771,800
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
Commercial land
Use group
VACANT COMMERCIAL LAND
Status
Off-Market
Year built
2019
Construction
CONCRETE
Heating
NONE
Stories
16
Total area
517,415 SF
Lot
4.27 ac (186,001 SF)
Zoning code
OR
APN
24189660490000
UPID
US87-2687675
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
2019
Construction
CONCRETE
Heating
NONE
Stories
16
Lot
4.27 ac
Current owner
From public records · entity-resolved
Tracee Martin
Individual
Free & Clear · 2 yrs held
Mailing address
300 32ND ST STE #500, VIRGINIA BEACH, VA 23451-2968
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 30, 2023
—
Tracee Martin
Tracee M Martin
Intrafamily Transfer
related
—
Sep 29, 2021
—
Oceanfront Condominium Association
City Of Virginia Beach
Foreclosure
related
—
Jul 21, 2005
—
Cavalier Hotel Corp
Commonwealth Of Virginia
Grant Deed
related
—
Jan 20, 2005
—
City Of Virginia Beach
Pasquotank Action Council
Quit Claim 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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