Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$615,000
Industrial land
5690 Greenwich Rd 100 Virginia Beach, VA 23462-6516
Entity Owned
3-yr Hold
Absentee Owner
Free & Clear
Property ID
US87-0372295
Property profile
Verified
Property type
Industrial land
Use group
INDUSTRIAL - VACANT LAND
Year built
1984
Construction
WOOD FRAME
Total area
5,616 SF
Lot
0.27 ac (11,544 SF)
Zoning code
I1
APN
14671572890000
UPID
US87-0372295
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
-
American Immigration And Business Law Firm
-
Atkinson John Law Firm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$650k
CAP Approach
CAP
$565k
Comparable Approach
Comparable
$477k
Blend (final)
Blend
$615k
Owner & transaction history
Newtown Hotel LLC · 3 yrs held
Newtown Hotel LLC
since 2023
Last sale
$620,000
5 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
Office building
$970,000
+18.2%
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
$630,000
ML approach
$650,000
CAP Approach
CAP Return
Estimation
6%
$615,000
6.5%
$565,000
7%
$525,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$825,000
Current use
OFFICE BUILDING
$970,000
Change: +18% · Conversion: Difficult
Blend value · Realmo final
$615k
Range $554k – $677k · ±10% · vs last sale $620k (Mar 22 2023)
Last sale anchor
$620k
Mar 22 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
$110 / 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
$1,414
Tax year 2024
Assessed value
$145,800
Assessed 2024
Previous assessed
$145,800
+0.0% YoY
Effective rate
0.97%
On assessed value
Assessed land
$145,800
Land market value
$145,800
Total market value
$145,800
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
Year built
1984
Construction
WOOD FRAME
Heating
ELECTRIC
Stories
3
Total area
5,616 SF
Lot
0.27 ac (11,544 SF)
Zoning code
I1
APN
14671572890000
UPID
US87-0372295
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
$825,000
OFFICE BUILDING
Est. value
$970,000
INDUSTRIAL (GENERAL) Current
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
Year built
1984
Construction
WOOD FRAME
Heating
ELECTRIC
Stories
3
Lot
0.27 ac
Current owner
From public records · entity-resolved
Newtown Hotel LLC
Entity
Free & Clear · 3 yrs held
Mailing address
2434 GUM RD, CHESAPEAKE, VA 23321-1510
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2023
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
Mar 22, 2023
—
Newtown Hotel LLC
Commonwealth Of Virginia
Quit Claim Deed
related
—
Apr 13, 2016
$620,000
Commonwealth Of Virginia
Atkinson,john T
Grant Deed
—
May 11, 2010
—
Bank Of Commonwealth
Reid,robert M
Trustees Deed
related
—
—
—
5690 Properties LLC
—
Deed Of Trust
related
$187,052 · Bank Of Commonwealth
—
—
5690 Properties LLC
—
Deed Of Trust
related
$720,000 · Bank Of Commonwealth
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 5690 Greenwich Rd, Unit 100?
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.
