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Property profile & analytics
OFF-MARKET
Estimated value
$2,605,000
Community centers
424 Newtown Rd Virginia Beach, VA 23462-5619
Entity Owned
17-yr Hold
Absentee Owner
Free & Clear
Property ID
US87-0675899
Property profile
Verified
Property type
Community centers
Use group
MINI-MALL
Year built
1976
Construction
TYPE NOT SPECIFIED
Total area
19,800 SF
Lot
1.57 ac (68,520 SF)
Zoning code
B2
APN
14672833690000
UPID
US87-0675899
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
-
Sushi Mama & 92 Chicken korean style Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.61M
Owner & transaction history
Newtown Convenience Center LLC · 17 yrs held
Newtown Convenience Center LLC
since 2008
1 recorded transaction
Zoning & alternative use
B2 · 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
$132 / 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
$30,454
Tax year 2024
Assessed value
$3,076,200
Assessed 2024
Previous assessed
$3,076,200
+0.0% YoY
Effective rate
0.99%
On assessed value
Assessed land
$954,100
Assessed improvement
$2,122,100
Land market value
$954,100
Improvement market value
$2,122,100
Total market value
$3,076,200
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
Community centers
Use group
MINI-MALL
Status
Off-Market
Year built
1976
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Total area
19,800 SF
Lot
1.57 ac (68,520 SF)
Zoning code
B2
APN
14672833690000
UPID
US87-0675899
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.
Building & site characteristics
From public records
Year built
1976
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Lot
1.57 ac
Current owner
From public records · entity-resolved
Newtown Convenience Center LLC
Entity
Free & Clear · 17 yrs held
Mailing address
2859 VIRGINIA BCH BLVD STE #106, VIRGINIA BEACH, VA 23452-7622
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2008
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
Aug 1, 2008
—
Newtown Convenience Center LLC
Mcleskey,f Wayne JR
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.
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