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Property profile & analytics
OFF-MARKET
Estimated value
$2,280,000
Office buildings
4606 Westgrove Ct Virginia Beach, VA 23455-5414
Entity Owned
18-yr Hold
~
Est. High Equity
Property ID
US87-0396721
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
1975
Construction
FRAME
Total area
13,950 SF
Lot
1.15 ac (49,920 SF)
Zoning code
B2
APN
14784507860000
UPID
US87-0396721
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
-
Exquisite Lash and Beauty Bar Hair Salon Nail Salon
-
Sophisticated Glow Lash Bar LLC (Bike/Boat/Book/etc) Store Cosmetic Store
-
Serene Sculpting Spa & Massage Center Alternative Medicine Practice
-
Angels Home Health Services LLC Home Health Care Service
-
Amayzyn Braydz by Grace Hair Salon
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$3.05M
Comparable Approach
Comparable
$2.30M
Blend (final)
Blend
$2.28M
Owner & transaction history
Madix Associates LLC · 18 yrs held
Madix Associates LLC
since 2008
4 recorded transactions
Zoning & alternative use
B2 · Virginia Beach, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$3.3M
+27.7%
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%
$3,300,000
6.5%
$3,045,000
7%
$2,830,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$2,575,000
Current use
MEDICAL BUILDING
$3,285,000
Change: +28% · Conversion: Easy
INDUSTRIAL (GENERAL)
$2,115,000
Change: -18% · Conversion: Difficult
Blend value · Realmo final
$2.28M
Range $2.05M – $2.51M · ±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
$163 / 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
$15,912
Tax year 2024
Assessed value
$1,607,300
Assessed 2024
Previous assessed
$1,607,300
+0.0% YoY
Effective rate
0.99%
On assessed value
Assessed land
$673,900
Assessed improvement
$933,400
Land market value
$673,900
Improvement market value
$933,400
Total market value
$1,607,300
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
1975
Construction
FRAME
Heating
YES
Cooling
CENTRAL
Stories
1
Total area
13,950 SF
Lot
1.15 ac (49,920 SF)
Zoning code
B2
APN
14784507860000
UPID
US87-0396721
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
$2.6M
MEDICAL BUILDING
Est. value
$3.3M
INDUSTRIAL (GENERAL)
Est. value
$2.1M
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
1975
Construction
FRAME
Heating
YES
Cooling
Yes
Stories
1
Lot
1.15 ac
Current owner
From public records · entity-resolved
Madix Associates LLC
Entity
Mailing address
PO BOX 6211, VIRGINIA BEACH, VA 23456-0211
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 10, 2022
—
Madix Associates LLC
—
Deed
related
$170,000 · Atlantic Union Bank
Jul 12, 2017
—
Madix Associates LLC
—
Deed
related
$800,000 · Branch Bk&tr
Jul 1, 2008
—
Madix Associates LLC
Leung,yan W & Margarita W
Grant Deed
$985,150 · Towne Bank
—
—
Madix Associates LLC
—
Deed Of Trust
related
$800,000 · Branch Bk&tr
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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