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Property profile & analytics
OFF-MARKET
Estimated value
$8,765,000
Warehouses
4588 Plz Trl Virginia Beach, VA 23462-7792
Entity Owned
11-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US87-2042617
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
2016
Construction
TYPE NOT SPECIFIED
Total area
77,778 SF
Lot
1.46 ac (63,598 SF)
Zoning code
B2
APN
14766029570000
UPID
US87-2042617
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
-
Eternal Works Advertising Agency Marketing & Advertising
-
Area Storage Storage Facility
-
Beauty Wrap, LLC (Bike/Boat/Book/etc) Store
-
Remain Stainless Customs (Bike/Boat/Book/etc) Store
-
M & R Retail Shop LLC Department Store Grocery & Convenience Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$10.28M
Comparable Approach
Comparable
$7.36M
Blend (final)
Blend
$8.77M
Owner & transaction history
South Plaza Storage LLC · 11 yrs held
South Plaza Storage LLC
since 2015
4 recorded transactions
Zoning & alternative use
B2 · Virginia Beach, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$13.5M
+21.0%
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 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%
$11,140,000
6.5%
$10,280,000
7%
$9,550,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$11,130,000
Current use
OFFICE BUILDING
$13,465,000
Change: +21% · Conversion: Difficult
Blend value · Realmo final
$8.77M
Range $7.89M – $9.64M · ±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
$113 / 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
$105,139
Tax year 2024
Assessed value
$10,839,100
Assessed 2024
Previous assessed
$10,839,100
+0.0% YoY
Effective rate
0.97%
On assessed value
Assessed land
$803,700
Assessed improvement
$10,035,400
Land market value
$803,700
Improvement market value
$10,035,400
Total market value
$10,839,100
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
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Status
Off-Market
Year built
2016
Construction
TYPE NOT SPECIFIED
Heating
YES
Stories
3
Bathrooms
4
Total area
77,778 SF
Lot
1.46 ac (63,598 SF)
Zoning code
B2
APN
14766029570000
UPID
US87-2042617
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
WAREHOUSE, STORAGE Current
Est. value
$11.1M
OFFICE BUILDING
Est. value
$13.5M
WAREHOUSE, STORAGE Current
OFFICE BUILDING
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
2016
Construction
TYPE NOT SPECIFIED
Heating
YES
Stories
3
Bathrooms
4
Lot
1.46 ac
Current owner
From public records · entity-resolved
South Plaza Storage LLC
Entity
Mailing address
440 VIKING DR STE #240, VIRGINIA BEACH, VA 23452-7326
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2015
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
Jan 6, 2015
$675,000
South Plaza Storage LLC
Reed Ents INC
Grant Deed
$3,775,000 · Monarch Bk
Feb 29, 2012
—
Reed Ents INC
—
Deed Of Trust
related
$1,837,493 · Branch Banking & Trust Co
Jan 13, 2009
—
Reed Ents INC One
—
Deed Of Trust
related
$6,750,000 · Branch Banking & Trust Co
—
—
Reed Ents INC
—
Deed Of Trust
related
$200,000 · Branch Banking & Trust 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
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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