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Property profile & analytics
OFF-MARKET
Estimated value
$1,500,000
Office buildings
508 Birdneck Rd Ste F Virginia Beach, VA 23451-6301
Entity Owned
2-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US87-1282548
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
1965
Construction
TYPE NOT SPECIFIED
Total area
8,300 SF
Lot
1 ac (43,560 SF)
Zoning code
B2
APN
24176820050000
UPID
US87-1282548
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
-
Bewitched Salon Hair Salon
-
Drapery Decor (Bike/Boat/Book/etc) Store
-
Birdneck Animal Hospital Veterinary Clinic
-
Mind|Body Method Crisis Center Medical Clinic
-
The River Ellis Foundation Association / Organization
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.50M
CAP Approach
CAP
$1.82M
Comparable Approach
Comparable
$1.68M
Blend (final)
Blend
$1.50M
Owner & transaction history
Vb Commercial Center LLC · 2 yrs held
Vb Commercial Center LLC
since 2024
Last sale
$1.5M
5 recorded transactions
Zoning & alternative use
B2 · Virginia Beach, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$2.4M
+11.7%
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
$1,500,000
ML approach
$1,500,000
CAP Approach
CAP Return
Estimation
6%
$1,965,000
6.5%
$1,815,000
7%
$1,685,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$2,150,000
Current use
RETAIL STORES
$2,400,000
Change: +12% · Conversion: Moderate
MEDICAL BUILDING
$1,955,000
Change: -9% · Conversion: Easy
Blend value · Realmo final
$1.50M
Range $1.35M – $1.65M · ±10% · vs last sale $1.50M (Jan 19 2024)
Last sale anchor
$1.50M
Jan 19 2024
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
$181 / 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
$9,954
Tax year 2024
Assessed value
$1,005,500
Assessed 2024
Previous assessed
$1,005,500
+0.0% YoY
Effective rate
0.99%
On assessed value
Assessed land
$484,600
Assessed improvement
$520,900
Land market value
$484,600
Improvement market value
$520,900
Total market value
$1,005,500
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
1965
Construction
TYPE NOT SPECIFIED
Heating
YES
Buildings
2
Stories
1
Total area
8,300 SF
Lot
1 ac (43,560 SF)
Zoning code
B2
APN
24176820050000
UPID
US87-1282548
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
$2.2M
RETAIL STORES
Est. value
$2.4M
MEDICAL BUILDING
Est. value
$2.0M
OFFICE BUILDING Current
RETAIL STORES
MEDICAL 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
1965
Construction
TYPE NOT SPECIFIED
Heating
YES
Stories
1
Buildings
2
Lot
1 ac
Current owner
From public records · entity-resolved
Vb Commercial Center LLC
Entity
Mailing address
4620 HAYGOOD RD STE #1, VIRGINIA BEACH, VA 23455-5401
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 19, 2024
$1,500,000
Vb Commercial Center LLC
Birdneck Investment Associates LLC
Special Warranty Deed
$600,000 · South State Bank NA
Nov 30, 2012
$615,000
Birdneck Investment Assocs LLC
Towne Bk
Grant Deed
—
Oct 5, 2012
$610,000
Towne Bk
Howell,john E
Deed In Lieu Of Foreclosure
related
—
Sep 20, 2006
$1,340,100
John E Howell
Resort Devs INC
Grant Deed
$1,072,000 · Towne Bank
—
—
John E Howell
—
Deed Of Trust
related
$992,000 · Towne Bank
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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