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    600 Atlantic Ave Virginia Beach, VA 23451-3524
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    Property profile & analytics

    600 Atlantic Ave, Virginia Beach, VA 23451-3524

    View on Map
    • Hotels
    • 170,688 SF
    • 1.72 lot acres
    Off-Market
    Last Sale Aug 19, 2024
    Property ID
    US87-0278932
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $11,145,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Suffolk Va / Church
    • Masons Famous Lobster Rolls / Restaurant
    • Turtle Cay Resort / Hotel & Motel / Resort

    Property Details for 600 Atlantic Ave

    Year built
    1998
    Construction
    FRAME
    Lot size
    1.72 lot acres
    Zone code
    OR
    Property type
    Hotels
    APN
    24272373970000
    APU
    24272373970000

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Aug 19, 2024 — Ryan L Shane Joseph C Smolda JR Warranty Deed —
    Jun 25, 2024 — Diamond Resorts Turtle Cay Dev LLC Steven D Dubose Special Warranty Deed —
    Aug 10, 2023 — Meemee Schneider Tina A Lillis Deed · related —
    Dec 12, 2022 — David C Powell Timothy Ray Higgins Correction Deed · related —
    Jun 4, 2021 $500 Shaun M Anderson Kenneth M Anderson SR. Deed · related —
    Jul 11, 2017 — Rochester D Wise SR Grace A Smith Quit Claim Deed · related —
    May 25, 2017 — Derrick Thomas Thomas,yvonne Quit Claim Deed · related —
    Apr 13, 2017 $21,450 Diamond Resorts Turtle Cay Dev Lafleur,gerald W & Linda L Grant Deed —
    Feb 7, 2017 — Ocean Bch Clb LLC — Deed · related —
    Dec 1, 2015 — Diamond Resorts Gk Dev LLC Ocean Beach Club LLC Grant Deed · related —
    Nov 18, 2014 $5,000 Ocean Bch Clb LLC Williams,verelyn P Grant Deed —
    Oct 17, 2014 $16,582 Timothy R Wiseman Ocean Bch Clb LLC Grant Deed —
    Apr 6, 2010 — Otis A Hunt SR. Ocean Bch Clb LLC Grant Deed $22k · Pata Service Corp
    Apr 5, 2010 — Ocean Beach Club LLC Goodwin,avery S Grant Deed · related —
    Jun 13, 2008 — Michael F Taylor Ocean Beach Club LLC Grant Deed · related —
    Feb 19, 2008 — Thomas H Bauman Ocean Beach Club LLC Grant Deed · related —
    Feb 4, 2008 — Roberta A Robertson Ocean Beach Club LLC Grant Deed · related —
    Dec 10, 2007 — Sara H Symons Ocean Beach Club LLC Grant Deed · related —
    Dec 7, 2007 — Donald N Thackery Ocean Beach Club Grant Deed · related —
    Nov 30, 2007 $31,000 Krista M Littleton Ocean Beach Club LLC Grant Deed · related —
    Nov 30, 2007 $18,500 Michael J Ballos Ocean Beach Club LLC Grant Deed · related —
    Nov 30, 2007 $13,500 Wanda F Stokes Ocean Beach Club LLC Grant Deed · related —
    Nov 30, 2007 $23,000 Joseph M Schuta Ocean Beach Club LLC Grant Deed · related —
    Nov 19, 2007 $13,500 Michael B Lemon Ocean Beach Club LLC Grant Deed · related —
    Nov 19, 2007 $25,500 Ethel M Holt Ocean Beach Club LLC Grant Deed · related —
    Nov 13, 2007 $13,500 Robert S Norris Ocean Beach Club LLC Grant Deed · related —
    Nov 13, 2007 $25,500 James W Crump Ocean Beach Club LLC Grant Deed · related —
    Nov 5, 2007 $13,500 Gregory L Derricote Ocean Beach Club LLC Grant Deed · related —
    Nov 5, 2007 $19,000 Walter K Lumpkin Ocean Beach Club LLC Grant Deed · related —
    Nov 2, 2007 $13,500 Bennat J Drazner Ocean Beach Club LLC Grant Deed · related —
    Nov 1, 2007 $610 Bryan Duchesne Bilobrk,marijo Warranty Deed · related —
    Oct 29, 2007 $13,500 Darius L Moss Ocean Beach Club LLC Grant Deed · related —
    Oct 26, 2007 $13,500 Robert R Hall Ocean Beach Club LLC Grant Deed · related —
    Oct 25, 2007 $3,031 Ocean Beach Club LLC Levinson,michael H Trustees Deed · related —
    Oct 22, 2007 — Don E Mcguinn Ocean Beach Club LLC Grant Deed · related —
    Oct 19, 2007 $34,500 Glenn W Pacapelli Ocean Beach Club Grant Deed · related —
    Oct 19, 2007 $13,500 David L Barbour Ocean Beach Club Grant Deed · related —
    Oct 12, 2007 — Larry G Whitt Ocean Beach Club LLC Grant Deed · related —
    Oct 9, 2007 — Henry J Hoffman JR. Ocean Beach Club LLC Grant Deed · related —
    Sep 21, 2007 — Julio C Araujo Ocean Beach Club LLC Grant Deed · related —
    Sep 19, 2007 $500 Christopher Haynes Daniels,maria E Warranty Deed · related —
    Sep 10, 2007 — Chad W Burns Ocean Beach Club LLC Grant Deed · related —
    Sep 6, 2007 — Tina A Kiernan Ocean Beach Club LLC Grant Deed · related —
    Sep 5, 2007 — Louis Simmons JR. Ocean Beach Club LLC Grant Deed · related —
    Aug 27, 2007 — Max R Kirk Ocean Beach Club LLC Grant Deed · related —
    Aug 24, 2007 — Leonard Stewart Ocean Beach Club LLC Grant Deed · related —
    Aug 20, 2007 — Carroll E Rector Ocean Beach Club LLC Grant Deed · related —
    Aug 13, 2007 — Annie R Williams Ocean Beach Club LLC Grant Deed · related —
    Aug 7, 2007 — Thomas C Yancey Ocean Beach Club LLC Grant Deed · related —
    Aug 6, 2007 — Lawrence C Ledoux Ocean Beach Club LLC Grant Deed · related —
    Aug 3, 2007 $5,050 Walter L Hamilton Harris,ronald W & Lisa M Warranty Deed · related —
    Jul 30, 2007 — James P Rossie Ocean Beach Club LLC Grant Deed · related —
    Jul 27, 2007 — Guy J Johnson Ocean Beach Club LLC Grant Deed · related —
    Jul 23, 2007 — Richard O Doire JR. Ocean Beach Club LLC Grant Deed · related —
    Jul 16, 2007 — Jesse H Justice Ocean Beach Club LLC Grant Deed · related —
    Jul 6, 2007 — Lana W Robinson Ocean Beach Club LLC Grant Deed · related —
    Jun 1, 2007 $500 Eugene W Makowski Easter,constance R Warranty Deed · related —
    Apr 3, 2007 $3,442 Michael S Donahoe Norris,wendell C & Cheryl D Warranty Deed · related —
    — — Ocean Bch Clb LLC — Loan Modification · related —

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $12,376,000
      Market price range: $8.64M - $95.4M

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Virginia Beach
    County
    Virginia Beach City
    State
    Virginia
    Longitude
    -75.9721
    Latitude
    36.8351
    CBSA code
    47260
    CBSA name
    VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $213,835
    $9,732,300
    $11,867,200
    $21,599,500
    -
    $9,732,300
    $11,867,200
    $21,599,500

    Comparable in this City

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    600 Atlantic Ave
    Virginia Beach, VA 23451-3524
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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