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Property profile & analytics
OFF-MARKET
Estimated value
$800,000
Office Spaces
611 Lynnhaven Pkwy Ste 100 Virginia Beach, VA 23452-7335
Entity Owned
8-yr Hold
Property ID
US87-1230438
Property profile
Verified
Property type
Office Spaces
Use group
CONDOMINIUM OFFICES
Year built
1986
Construction
TYPE NOT SPECIFIED
Total area
5,760 SF
Zoning code
I1
APN
14974062843070
UPID
US87-1230438
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
$1.05M
Blend (final)
Blend
$800k
Owner & transaction history
Honeygrove Properties LLC · 8 yrs held
Honeygrove Properties LLC
since 2017
4 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
Industrial (general)
$985,000
+19.1%
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
OFFICE BUILDING
$825,000
Current use
INDUSTRIAL (GENERAL)
$985,000
Change: +19% · Conversion: Difficult
Blend value · Realmo final
$800k
Range $720k – $880k · ±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
$139 / 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
$9,161
Tax year 2024
Assessed value
$925,400
Assessed 2024
Previous assessed
$925,400
+0.0% YoY
Effective rate
0.99%
On assessed value
Assessed land
$156,100
Assessed improvement
$769,300
Land market value
$156,100
Improvement market value
$769,300
Total market value
$925,400
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 Spaces
Use group
CONDOMINIUM OFFICES
Status
Off-Market
Year built
1986
Construction
TYPE NOT SPECIFIED
Heating
HEAT PUMP
Cooling
CENTRAL
Stories
2
Total area
5,760 SF
Zoning code
I1
APN
14974062843070
UPID
US87-1230438
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
OFFICE BUILDING Current
Est. value
$825,000
INDUSTRIAL (GENERAL)
Est. value
$985,000
OFFICE BUILDING Current
INDUSTRIAL (GENERAL)
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
1986
Construction
TYPE NOT SPECIFIED
Heating
HEAT PUMP
Cooling
Yes
Stories
2
Current owner
From public records · entity-resolved
Honeygrove Properties LLC
Entity
Mailing address
611 LYNNHAVEN PKWY STE #200, VIRGINIA BEACH, VA 23452-7335
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 11, 2018
—
Honeygrove Props LLC
—
Deed
related
$381,000 · Tidewater Busn Financing
Oct 11, 2017
$860,000
Honeygrove Properties LLC
Mccormack Ents LLC
Warranty Deed
$465,150 · Southern Bk
Nov 27, 2007
—
Mccormack Ents LLC
—
Deed Of Trust
related
$1,100,000 · Bank Of America
—
—
Honeygrove Props LLC
—
Deed Of Trust
related
$381,000 · Tidewater Busn Financing
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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