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Property profile & analytics
OFF-MARKET
Estimated value
$31,730,000
Office buildings
800 Independence Blvd Virginia Beach, VA 23455-6005
Entity Owned
Absentee Owner
Free & Clear
Property ID
US87-2384075
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
1974
Construction
CONCRETE
Total area
205,006 SF
Lot
12.89 ac (561,567 SF)
Zoning code
O2
APN
14785482550000
UPID
US87-2384075
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
-
Dr. Kelly A. Foley, MD Physician
-
Dr. William E. Cress, MD Physician
-
Deborah W. Squibb, RPH Pharmacy
-
Dr. Jon D. Mason, MD Pediatrician Medical Clinic
-
Dr. Joseph L. Dunford, MD Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$30.57M
Blend (final)
Blend
$31.73M
Owner & transaction history
MPB INC
MPB INC
Zoning & alternative use
O2 · Virginia Beach, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$48.3M
+27.7%
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
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
$37,805,000
Current use
MEDICAL BUILDING
$48,265,000
Change: +28% · Conversion: Easy
INDUSTRIAL (GENERAL)
$31,090,000
Change: -18% · Conversion: Difficult
Blend value · Realmo final
$31.73M
Range $28.56M – $34.90M · ±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
$155 / 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
$211,629
Tax year 2024
Assessed value
$21,376,700
Assessed 2024
Previous assessed
$21,376,700
+0.0% YoY
Effective rate
0.99%
On assessed value
Assessed land
$4,904,600
Assessed improvement
$16,472,100
Land market value
$4,904,600
Improvement market value
$16,472,100
Total market value
$21,376,700
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 (MULTI-STORY)
Status
Off-Market
Year built
1974
Construction
CONCRETE
Heating
ELECTRIC
Cooling
CENTRAL
Stories
5
Total area
205,006 SF
Lot
12.89 ac (561,567 SF)
Zoning code
O2
APN
14785482550000
UPID
US87-2384075
Jurisdiction
VIRGINIA BEACH CITY
Zoning & alternative use
O2 · Virginia Beach, VA
Zoning O2 · permitted uses
O2 · 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
$37.8M
MEDICAL BUILDING
Est. value
$48.3M
INDUSTRIAL (GENERAL)
Est. value
$31.1M
OFFICE BUILDING Current
MEDICAL BUILDING
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
1974
Construction
CONCRETE
Heating
ELECTRIC
Cooling
Yes
Stories
5
Lot
12.89 ac
Current owner
From public records · entity-resolved
MPB INC
Entity
Free & Clear · 0 yrs held
Mailing address
6015 POPLAR HALL DR #214, NORFOLK, VA 23502-3819
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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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