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    851 Lynnhaven Rd, Unit B Virginia Beach, VA 23452-6312
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    851 Lynnhaven Rd, Unit B Virginia Beach, VA 23452-6312

    View on Map
    • Community centers
    • 16,000 SF
    • 1.70 lot acres
    Off-Market
    Property ID
    US87-0639184
    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
    $1,655,000
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Affordable Driving Automotive / Auto Repair Shop / Vehicle Inspection Center
    • kar crazy automotive llc / Auto Repair Shop

    Property Details for 851 Lynnhaven Rd

    Year built
    1978
    Construction
    TYPE NOT SPECIFIED
    Lot size
    1.70 lot acres
    Property size
    16,000 SF
    Zone code
    B2
    Property type
    Community centers
    Property subtype
    Shopping centers
    APN
    14963401650000
    APU
    14963401650000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Virginia Beach
    County
    Virginia Beach City
    State
    Virginia
    Longitude
    -76.0741
    Latitude
    36.8119
    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
    $8,453
    $683,500
    $170,300
    $853,800
    -
    $683,500
    $170,300
    $853,800

    Comparable in this City

    • Value Estimation
      $2,130,000
      12,168 SF

      739 Lynnhaven Pkwy, Unit 100

      MINI-MALL • 12,168 SF
      739 Lynnhaven Pkwy, Virginia Beach, VA 23452-7304
      View Details
    • Value Estimation
      $920,000
      7,834 SF

      277 Lynnhaven Rd

      MINI-MALL • 7,834 SF
      277 Lynnhaven Rd, Virginia Beach, VA 23452-6963
      View Details
    • Value Estimation
      $3,610,000
      23,757 SF

      2859 Virginia Bch Blvd

      MINI-MALL • 23,757 SF
      2859 Virginia Bch Blvd, Virginia Beach, VA 23452-7613
      View Details
    • Value Estimation
      $11,935,000
      89,122 SF

      3601 Holland Rd

      MINI-MALL • 89,122 SF
      3601 Holland Rd, Virginia Beach, VA 23452
      View Details
    • Value Estimation
      $3,650,000
      32,927 SF

      3468 Holland Rd

      MINI-MALL • 32,927 SF
      3468 Holland Rd, Virginia Beach, VA 23452-4873
      View Details
    • Value Estimation
      $1,460,000
      12,500 SF

      176 Rosemont Rd Ste C

      MINI-MALL • 12,500 SF
      176 Rosemont Rd Ste C, Virginia Beach, VA 23452-4337
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      5,150 SF

      Two-Tenant Shopping Center For Sale

      Two-tenant shopping center in high profile Pembroke/Thalia area.
      4336 Virginia Beach Blvd, Virginia Beach, VA 23452
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      7,370 SF

      NNN Red Lobster For Sale

      NNN Red Lobster with 5.25% cap rate for sale.
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    • $534,900
      960 SF

      Versatile Showroom/Office Space For Sale

      Single-story showroom/office space with high traffic exposure in Virginia Beach.
      2640 Virginia Beach Blvd, Virginia Beach, VA 23452
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    • $125,000
      1,100 SF

      Commercial Kitchen For Sale

      Commissary kitchen suitable for catering and food preparation.
      3322 Virginia Beach Blvd, Virginia Beach, VA 23452
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    • New
      $790,000
      0.29 Acres

      Commercial Property on Virginia Beach

      Freestanding commercial property with high visibility and redevelopment potential.
      3794 Virginia Beach Blvd, Virginia Beach, VA 23452
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    • Contact for pricing
      12,498 SF

      Retail Medical Office Building

      Retail and medical office building available for sale.
      1124 Lynnhaven Pkwy, Virginia Beach, VA 23452
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,282 SF

      Retail Space in Neighborhood Center

      Retail space available in 7-11 anchored neighborhood center.
      316-334 Lynn Shores Dr, Virginia Beach, VA 23452
      View Details
    • Contact for pricing

      Retail Space Near Lynnhaven Mall

      Retail spaces available near Lynnhaven Mall in Virginia Beach.
      829 Lynnhaven Pkwy, Virginia Beach, VA 23452
      View Details
    • Contact for pricing
      1,500 SF

      Retail Space Near Town Center

      Retail space available in Collins Square shopping center.
      4001 Virginia Beach Blvd, Virginia Beach, VA 23452
      View Details
    • Contact for pricing

      Fully Leased Retail Center

      Retail center with national tenants and strong demographics.
      3877 Holland Rd, Virginia Beach, VA 23452
      View Details
    • Contact for pricing

      Retail Space on Virginia Beach Boulevard

      Retail space for lease in Virginia Beach, Virginia.
      2953-2955 Virginia Beach Blvd, Virginia Beach, VA 23452
      View Details
    • Contact for pricing
      14,085 SF

      Retail Space in Loehmann's Plaza

      Retail space available in a busy Virginia Beach shopping center.
      4000 Virginia Beach Blvd, Virginia Beach, VA 23452
      View Details
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    Virginia Beach, VA 23452-6312
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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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