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Property profile & analytics
OFF-MARKET
Estimated value
$1,950,000
Office buildings
500 Viking Dr Virginia Beach, VA 23452-7477
Entity Owned
Absentee Owner
Free & Clear
Property ID
US87-0093537
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
1993
Construction
TYPE NOT SPECIFIED
Total area
12,872 SF
Lot
8.83 ac (384,548 SF)
Zoning code
I1
APN
14975047080000
UPID
US87-0093537
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
-
Alperin Law PLLC Law Firm
-
Professional Software (Bike/Boat/Book/etc) Store Corporate Office
-
Kannarkat Joy Physician Medical Clinic
-
Mark T. Dorsey & Associates - Ameriprise Financial Services, LLC Financial Advisor
-
Atlantic Psychiatric Services: Phocas John MD Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.87M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.43M
Blend (final)
Blend
$1.95M
Owner & transaction history
Dang Prop LLC 3357 Crofts Pride Ser
Dang Prop LLC 3357 Crofts Pride Ser
since 2025
Last sale
$2.0M
6 recorded transactions
Zoning & alternative use
I1 · Virginia Beach, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$3.0M
+64.1%
Industrial (general)
$2.2M
+19.1%
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
$2,020,000
ML approach
$1,870,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,845,000
Current use
MEDICAL BUILDING
$3,030,000
Change: +64% · Conversion: Easy
INDUSTRIAL (GENERAL)
$2,200,000
Change: +19% · Conversion: Difficult
Blend value · Realmo final
$1.95M
Range $1.76M – $2.15M · ±10% · vs last sale $1.99M (Jun 13 2023)
Last sale anchor
$1.99M
Jun 13 2023
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
$151 / 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
$55,231
Tax year 2024
Assessed value
$5,578,900
Assessed 2024
Previous assessed
$5,578,900
+0.0% YoY
Effective rate
0.99%
On assessed value
Assessed land
$489,400
Assessed improvement
$5,089,500
Land market value
$489,400
Improvement market value
$5,089,500
Total market value
$5,578,900
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
1993
Construction
TYPE NOT SPECIFIED
Heating
ELECTRIC
Buildings
2
Stories
1
Total area
12,872 SF
Lot
8.83 ac (384,548 SF)
Zoning code
I1
APN
14975047080000
UPID
US87-0093537
Jurisdiction
VIRGINIA BEACH CITY
Zoning & alternative use
I1 · Virginia Beach, VA
Zoning I1 · permitted uses
I1 · 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
$1.8M
MEDICAL BUILDING
Est. value
$3.0M
INDUSTRIAL (GENERAL)
Est. value
$2.2M
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
1993
Construction
TYPE NOT SPECIFIED
Heating
ELECTRIC
Stories
1
Buildings
2
Lot
8.83 ac
Current owner
From public records · entity-resolved
Dang Prop LLC 3357 Crofts Pride Ser
Entity
Free & Clear · 0 yrs held
Mailing address
1115 INDEPENDENCE BLVD STE #208, VIRGINIA BEACH, VA 23455-5501
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 25, 2025
—
Dang Prop LLC 3357 Crofts Pride Ser
Thuy T Dang
Deed
related
—
Jun 11, 2024
—
Salmons No 2 LLC
Michael H Salmons
Gift Deed
related
—
Jun 13, 2023
—
Johnathan P Bristol
Johnathan P Bristol
Gift Deed
related
—
Apr 25, 2018
—
Douglas S Daughtry
Douglas S Daughtry
Quit Claim Deed
related
—
Nov 18, 2005
$1,987,500
Lynnhaven II LLC
Leg Partners LLC
Grant Deed
$700,000 · Suntrust Bank NA
—
—
Lynnhaven II LLC
—
Deed Of Trust
related
$4,000,000 · Wachovia Bank NA
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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