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Property profile & analytics
OFF-MARKET
Estimated value
$1,635,000
Investment properties
4201 Pleasant Ave Norfolk, VA 23518-1641
Entity Owned
5-yr Hold
Absentee Owner
Free & Clear
Property ID
US87-3390143
Property summary
AI-generated overview
East Beach Village Square offers exceptional retail and office opportunities in Norfolk, VA. This Class A mixed-use development, completed in 2023, boasts two buildings totaling 30,300 square feet. Currently, 2,243 square feet are available, divisible into units as small as 428 square feet, with a maximum contiguous space of 1,160 square feet. The property features three suites in total, ideal for a variety of businesses. Located at 4201 Pleasant Ave, 23518, this highly visible location enjoys excellent traffic counts along Shore Drive (over 30,000 vehicles per day) and benefits from its proximity to a major military base (Little Creek) and a large employer, serving over 25,000 personnel. The property is also conveniently situated within fifteen minutes of Downtown Norfolk and Virginia Beach Town Center, providing access to a substantial consumer base. This vibrant waterfront community includes condominiums, townhomes, and other retail establishments, creating a thriving atmosphere. The available spaces are ready for immediate occupancy. The strong demographics and strategic location make this an exceptional investment opportunity.
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
2022
Total area
11,108 SF
Lot
0.22 ac (9,614 SF)
APN
51000047
UPID
US87-3390143
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.81M
Comparable Approach
Comparable
$1.77M
Blend (final)
Blend
$1.64M
Owner & transaction history
East Beach Village Square LLC · 5 yrs held
East Beach Village Square LLC
since 2021
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$2.2M
+69.8%
Auto repair, garage
$2.1M
+66.7%
Retail stores
$1.8M
+42.0%
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 Norfolk submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Norfolk 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%
$1,960,000
6.5%
$1,805,000
7%
$1,680,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$1,290,000
Current use
OFFICE BUILDING
$2,185,000
Change: +70% · Conversion: Easy
AUTO REPAIR, GARAGE
$2,145,000
Change: +67% · Conversion: Difficult
RETAIL STORES
$1,830,000
Change: +42% · Conversion: Easy
INDUSTRIAL (GENERAL)
$1,465,000
Change: +14% · Conversion: Moderate
WAREHOUSE, STORAGE
$1,210,000
Change: -6% · Conversion: Difficult
Blend value · Realmo final
$1.64M
Range $1.47M – $1.80M · ±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
$147 / 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
$34,764
Tax year 2024
Assessed value
$2,781,100
Assessed 2024
Previous assessed
$2,441,000
+13.9% YoY
Effective rate
1.25%
On assessed value
Assessed land
$201,900
Assessed improvement
$2,579,200
Land market value
$201,900
Improvement market value
$2,579,200
Total market value
$2,781,100
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
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
Off-Market
Year built
2022
Heating
FORCED AIR
Cooling
YES
Buildings
2
Total area
11,108 SF
Lot
0.22 ac (9,614 SF)
APN
51000047
UPID
US87-3390143
Jurisdiction
NORFOLK CITY
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$1.3M
OFFICE BUILDING
Est. value
$2.2M
AUTO REPAIR, GARAGE
Est. value
$2.1M
RETAIL STORES
Est. value
$1.8M
INDUSTRIAL (GENERAL)
Est. value
$1.5M
WAREHOUSE, STORAGE
Est. value
$1.2M
COMMERCIAL (GENERAL) Current
OFFICE BUILDING
AUTO REPAIR, GARAGE
RETAIL STORES
INDUSTRIAL (GENERAL)
WAREHOUSE, STORAGE
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
2022
Heating
FORCED AIR
Cooling
Yes
Buildings
2
Lot
0.22 ac
Current owner
From public records · entity-resolved
East Beach Village Square LLC
Entity
Free & Clear · 5 yrs held
Mailing address
300 W FREEMASON ST, NORFOLK, VA 23510-1208
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2021
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
Feb 16, 2021
—
East Beach Village Square LLC
Norfolk Redevelopment And Housing A
Correction Deed
related
—
Sep 25, 2020
—
East Beach Village Square LLC
Norfolk Redevelopment And Housing A
Correction Deed
related
—
Aug 12, 2020
$695,000
East Beach Company LLC
Norfolk Redevelopment And Housing A
Warranty Deed
—
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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