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Property profile & analytics
OFF-MARKET
Estimated value
$925,000
Office buildings
613 Virginia Bch Blvd Virginia Beach, VA 23451-4231
Entity Owned
19-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US87-0085625
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1948
Construction
TYPE NOT SPECIFIED
Total area
2,912 SF
Lot
0.16 ac (7,087 SF)
Zoning code
OR
APN
24179674680000
UPID
US87-0085625
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
-
Charles Kirkwood, Weichert Realtors-Inlet Prop. Real Estate Agency
-
Mary Paschall, Weichert Realtors-Inlet Prop. Real Estate Agency
-
Dossie Shea, Weichert Realtors-Inlet Prop. Real Estate Agency
-
Monica Karafotis, Weichert Realtors-Inlet Properties Real Estate Agency
-
Sheppard & O'Brien, P.C. Law Firm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.16M
CAP Approach
CAP
$635k
Comparable Approach
Comparable
$1.02M
Blend (final)
Blend
$925k
Owner & transaction history
William 613 LLC · 19 yrs held
William 613 LLC
since 2007
Last sale
$925,000
2 recorded transactions
Zoning & alternative use
OR · Virginia Beach, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$1.0M
+36.3%
Commercial (general)
$1.0M
+32.5%
Retail stores
$840,000
+11.7%
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
$1,090,000
ML approach
$1,155,000
CAP Approach
CAP Return
Estimation
6%
$690,000
6.5%
$635,000
7%
$590,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$755,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$1,025,000
Change: +36% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,000,000
Change: +32% · Conversion: Easy
RETAIL STORES
$840,000
Change: +12% · Conversion: Moderate
MEDICAL BUILDING
$685,000
Change: -9% · Conversion: Easy
Blend value · Realmo final
$925k
Range $833k – $1.02M · ±10% · vs last sale $925k (Jan 27 2021)
Last sale anchor
$925k
Jan 27 2021
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
$318 / 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
$7,754
Tax year 2024
Assessed value
$783,200
Assessed 2024
Previous assessed
$783,200
+0.0% YoY
Effective rate
0.99%
On assessed value
Assessed land
$343,700
Assessed improvement
$439,500
Land market value
$343,700
Improvement market value
$439,500
Total market value
$783,200
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 buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1948
Construction
TYPE NOT SPECIFIED
Heating
YES
Stories
1
Total area
2,912 SF
Lot
0.16 ac (7,087 SF)
Zoning code
OR
APN
24179674680000
UPID
US87-0085625
Jurisdiction
VIRGINIA BEACH CITY
Zoning & alternative use
OR · Virginia Beach, VA
Zoning OR · permitted uses
OR · 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.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$755,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.0M
COMMERCIAL (GENERAL)
Est. value
$1.0M
RETAIL STORES
Est. value
$840,000
MEDICAL BUILDING
Est. value
$685,000
OFFICE BUILDING Current
NEIGHBORHOOD: SHOPPING CENTER
COMMERCIAL (GENERAL)
RETAIL STORES
MEDICAL 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
1948
Construction
TYPE NOT SPECIFIED
Heating
YES
Stories
1
Lot
0.16 ac
Current owner
From public records · entity-resolved
William 613 LLC
Entity
Mailing address
469 GOODSPEED RD, VIRGINIA BEACH, VA 23451-2206
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2007
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
Jan 17, 2007
$337,000
William 613 LLC
Nixon John E JR Trust
Grant Deed
$250,000 · Towne Bank
—
—
Williams 613 LLC
—
Deed Of Trust
related
$238,000 · Towne Bk
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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