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    Property profile & analytics

    4708 Tulip Dr Virginia Beach, VA 23455-4024

    • Warehouses
    • 5,000 SF
    • 0.31 lot acres
    OFF-MARKET
    Last Sale
    Aug 28, 2024
    $675,000
    Value Estimations
    $675,000
    Show details
    Cap Rate Potential
    7.3%
    Warehouses
    Location Intelligence
    Property ID
    US87-1229616
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Safelite AutoGlass / General Contractor / Renovation Specialist

    Property Details for 4708 Tulip Dr

    Year built
    1979
    Lot size
    0.31 lot acres
    Property size
    5,000 SF
    Zone code
    B2
    Property type
    Warehouses
    Property subtype
    Self storage facilities
    APN
    14792351790000
    APU
    14792351790000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $675,000
      ML approach
      $675,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $825,000
      6.5%
      $760,000
      7%
      $705,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $664,000
      Market price range: $447k - $1.57M

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $715,000
      Current use
      OFFICE BUILDING
      $920,000
      Change: +29% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Virginia Beach
    County
    Virginia Beach City
    State
    Virginia
    Longitude
    -76.1415
    Latitude
    36.893
    CBSA code
    47260
    CBSA name
    VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $3,089
    $179,200
    $139,300
    $318,500
    -
    $179,200
    $139,300
    $318,500

    Comparable in this City

    • Value Estimation
      $9,825,000
      88,632 SF

      5737 Northampton Blvd

      MINI-WAREHOUSE, STORAGE • 88,632 SF
      5737 Northampton Blvd, Virginia Beach, VA 23455-3703
      View Details
    • Value Estimation
      $1,990,000
      24,564 SF

      5724 Ward Ave

      MINI-WAREHOUSE, STORAGE • 24,564 SF
      5724 Ward Ave, Virginia Beach, VA 23455-3311
      View Details
    • Value Estimation
      $1,975,000
      11,000 SF

      4664 Witchduck Rd

      MINI-WAREHOUSE, STORAGE • 11,000 SF
      4664 Witchduck Rd, Virginia Beach, VA 23455-6215
      View Details
    • Value Estimation
      $7,215,000
      70,878 SF

      5733 Bayside Rd Ste, Unit 101

      MINI-WAREHOUSE, STORAGE • 70,878 SF
      5733 Bayside Rd Ste, Virginia Beach, VA 23455-3016
      View Details
    • Value Estimation
      $755,000
      8,640 SF

      1409 Air Rail Ave

      MINI-WAREHOUSE, STORAGE • 8,640 SF
      1409 Air Rail Ave, Virginia Beach, VA 23455-3001
      View Details
    • Value Estimation
      $2,045,000
      15,798 SF

      4929 Shell Rd

      MINI-WAREHOUSE, STORAGE • 15,798 SF
      4929 Shell Rd, Virginia Beach, VA 23455-3803
      View Details

    Similar Nearby for Sale

    • $1,800,000

      Virginia Beach Office Building

      5,937 SF office building in thriving Virginia Beach area.
      760 Independence Blvd, Virginia Beach, VA 23455
      View Details
    • $310,000
      1,149 SF

      Office Space on Independence Boulevard

      Office space available for purchase on Independence Boulevard.
      1137 Independence Blvd, Virginia Beach, VA 23455
      View Details
    • Contact for pricing

      Virginia Beach Commercial Land Available

      0.712 acre commercial land parcel in central Virginia Beach.
      760 Independence Cir, Virginia Beach, VA 23455
      View Details
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      24,660 SF

      Retail Property in Virginia Beach

      Retail property available for sale in Virginia Beach, VA.
      1036 Ferry Plantation Rd, Virginia Beach, VA 23455
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      Industrial Land Available for Sale

      8.1 acres of industrial land with immediate availability.
      2540 Ferry Rd, Virginia Beach, VA 23455
      View Details
    • Contact for pricing
      30,690 SF

      Specialized Lab Facility For Sale

      30,690 square foot lab facility with highway access.
      5819 Ward Ct, Virginia Beach, VA 23455
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Retail, Office, and Flex Space

      Retail, office, and warehouse spaces available for lease.
      5393 Wesleyan Dr, Virginia Beach, VA 23455
      View Details
    • Contact for pricing
      3,818 SF

      Retail Showroom/Warehouse Space Available

      18,702 SF retail showroom/warehouse near Norfolk Premium Outlets.
      5393 Wesleyan Dr, Virginia Beach, VA 23455
      View Details
    • $2,950 /Mo
      2,500 SF

      Industrial Space Near Norfolk Airport

      Industrial space with convenient access to I-64 and amenities.
      5792 Northampton Blvd, Virginia Beach, VA 23455
      View Details
    • Contact for pricing
      20,000 SF

      Warehouse in Airport Industrial Park

      Warehouse/distribution facility with heavy power in Airport Industrial Park.
      5911 Thurston Ave, Virginia Beach, VA 23455
      View Details
    • Contact for pricing
      25,467 SF

      Flex Warehouse Space For Lease

      Flex warehouse space available near Norfolk International Airport.
      1417 Miller Store Rd, Virginia Beach, VA 23455
      View Details
    • Contact for pricing
      4,000 SF

      Virginia Beach Warehouse Space Available

      4,000 SF warehouse suite for lease near I-64.
      5900 Thurston Ave, Virginia Beach, VA 23455
      View Details
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    4708 Tulip Dr
    Virginia Beach, VA 23455-4024
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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