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Property profile & analytics
OFF-MARKET
Estimated value
$565,000
Industrial land
533 Central Dr Virginia Beach, VA 23454-5228
Entity Owned
1-yr Hold
Absentee Owner
Free & Clear
Property ID
US87-3583003
Property profile
Verified
Property type
Industrial land
Use group
INDUSTRIAL - VACANT LAND
Total area
1,706 SF
Lot
1.29 ac (56,220 SF)
Zoning code
I1
APN
14967961500000
UPID
US87-3583003
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$752k
Blend (final)
Blend
$565k
Owner & transaction history
Bowland Parkway Ventures LLC · 1 yrs held
Bowland Parkway Ventures LLC
since 2024
2 recorded transactions
Zoning & alternative use
I1 · Virginia Beach, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The purpose of the I-1 Light Industrial District is to permit light industrial uses, wholesaling, storage, packaging, distribution, and retailing restricted primarily to operations requiring bulk deliveries by truck or van in locations served by major transportation networks and in areas where employment centers close to residential concentrations will reduc…
Zone name
Light Industrial
General category
INDUSTRIAL
Source
Realmo
Top alternative use upside
Neighborhood: shopping center
$600,000
+66.6%
Commercial (general)
$585,000
+61.9%
Retail stores
$495,000
+36.5%
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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$360,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$600,000
Change: +67% · Conversion: Difficult
COMMERCIAL (GENERAL)
$585,000
Change: +62% · Conversion: Difficult
RETAIL STORES
$495,000
Change: +36% · Conversion: Moderate
MEDICAL BUILDING
$400,000
Change: +11% · Conversion: Difficult
OFFICE BUILDING
$350,000
Change: -3% · Conversion: Difficult
Blend value · Realmo final
$565k
Range $509k – $622k · ±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
$331 / 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
$2,503
Tax year 2024
Assessed value
$258,000
Assessed 2024
Previous assessed
$258,000
+0.0% YoY
Effective rate
0.97%
On assessed value
Assessed land
$258,000
Land market value
$258,000
Total market value
$258,000
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
Industrial land
Use group
INDUSTRIAL - VACANT LAND
Status
Off-Market
Heating
NONE
Total area
1,706 SF
Lot
1.29 ac (56,220 SF)
Zoning code
I1
APN
14967961500000
UPID
US87-3583003
Jurisdiction
VIRGINIA BEACH CITY
Zoning & alternative use
I1 · Virginia Beach, VAZoning 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
Zoning description
The purpose of the I-1 Light Industrial District is to permit light industrial uses, wholesaling, storage, packaging, distribution, and retailing restricted primarily to operations requiring bulk deliveries by truck or van in locations served by major transportation networks and in areas where employment centers close to residential concentrations will reduce traffic congestion and add to public convenience by moving places of work closer to places of residence
Zone name
Light Industrial
General category
INDUSTRIAL
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$360,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$600,000
COMMERCIAL (GENERAL)
Est. value
$585,000
RETAIL STORES
Est. value
$495,000
MEDICAL BUILDING
Est. value
$400,000
OFFICE BUILDING
Est. value
$350,000
INDUSTRIAL (GENERAL) Current
NEIGHBORHOOD: SHOPPING CENTER
COMMERCIAL (GENERAL)
RETAIL STORES
MEDICAL BUILDING
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
Heating
NONE
Lot
1.29 ac
Current owner
From public records · entity-resolved
Bowland Parkway Ventures LLC
Entity
Free & Clear · 1 yrs held
Mailing address
2649 PRODUCTION RD, VIRGINIA BEACH, VA 23454-5351
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
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 1, 2024
—
Bowland Parkway Ventures LLC
Coana Development LP
Deed
—
Apr 29, 2024
—
Rowland Parkway Ventures LLC
Oceana Development LP
Deed
—
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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