Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$4,995,000
Community centers
550 1st Colonial Rd Virginia Beach, VA 23451-6186
Entity Owned
4-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US87-2752745
Property profile
Verified
Property type
Community centers
Use group
MINI-MALL
Year built
1993
Construction
TYPE NOT SPECIFIED
Total area
60,245 SF
Lot
4.02 ac (175,024 SF)
Zoning code
B2
APN
24078799120000
UPID
US87-2752745
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
-
Shogun Japanese Steak House and Sushi Bar Restaurant
-
Kao Thai Restaurant Restaurant
-
DB Nail Studio Nail Salon
-
Phenix Salon Suites at Hilltop LLC Hair Salon
-
Above & Beyond Salon Hair Salon
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$5.00M
Owner & transaction history
Hilltop Souare Investors LLC · 4 yrs held
Hilltop Souare Investors LLC
since 2022
1 recorded transaction
Zoning & alternative use
B2 · Virginia Beach, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
$83 / 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
$55,405
Tax year 2024
Assessed value
$5,596,500
Assessed 2024
Previous assessed
$5,596,500
+0.0% YoY
Effective rate
0.99%
On assessed value
Assessed land
$2,800,400
Assessed improvement
$2,796,100
Land market value
$2,800,400
Improvement market value
$2,796,100
Total market value
$5,596,500
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
Community centers
Use group
MINI-MALL
Status
Off-Market
Year built
1993
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Total area
60,245 SF
Lot
4.02 ac (175,024 SF)
Zoning code
B2
APN
24078799120000
UPID
US87-2752745
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.
Building & site characteristics
From public records
Year built
1993
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Lot
4.02 ac
Current owner
From public records · entity-resolved
Hilltop Souare Investors LLC
Entity
Mailing address
15 WALKER AVE STE #200, PIKESVILLE, MD 21208-4025
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 19, 2022
—
Hilltop Souare Investors LLC
—
Deed
related
$12,000 · Sandy Spring 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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 550 1st Colonial Rd?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
