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Property profile & analytics
OFF-MARKET
Estimated value
$6,300,000
Retail space
856 Military Hwy Virginia Beach, VA 23464-3548
Entity Owned
3-yr Hold
Free & Clear
Property ID
US87-0897266
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2005
Construction
TYPE NOT SPECIFIED
Total area
14,722 SF
Lot
3.43 ac (149,566 SF)
Zoning code
B2
APN
14562408940000
UPID
US87-0897266
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
-
Walgreens Photo (Bike/Boat/Book/etc) Store
-
Redbox Cinema (Bike/Boat/Book/etc) Store
-
Walgreens Cosmetic Store
-
FedEx OnSite Postal Service Courier Service
-
Michelle R. Nappi, PharmD Pharmacy
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$6.29M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$5.48M
Blend (final)
Blend
$6.30M
Owner & transaction history
Hansen Ohana Security LLC · 3 yrs held
Hansen Ohana Security LLC
since 2023
Last sale
$6.3M
4 recorded transactions
Zoning & alternative use
B2 · Virginia Beach, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$10.4M
+145.0%
Restaurant
$6.6M
+55.9%
Neighborhood: shopping center
$5.2M
+22.1%
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
$6,370,000
ML approach
$6,290,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$4,255,000
Current use
AUTO REPAIR, GARAGE
$10,425,000
Change: +145% · Conversion: Difficult
RESTAURANT
$6,635,000
Change: +56% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$5,195,000
Change: +22% · Conversion: Moderate
COMMERCIAL (GENERAL)
$5,050,000
Change: +19% · Conversion: Easy
Blend value · Realmo final
$6.30M
Range $5.67M – $6.93M · ±10% · vs last sale $6.27M (Feb 3 2023)
Last sale anchor
$6.27M
Feb 3 2023
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
$428 / 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
$38,969
Tax year 2024
Assessed value
$3,936,300
Assessed 2024
Previous assessed
$3,936,300
+0.0% YoY
Effective rate
0.99%
On assessed value
Assessed land
$1,779,200
Assessed improvement
$2,157,100
Land market value
$1,779,200
Improvement market value
$2,157,100
Total market value
$3,936,300
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
2005
Construction
TYPE NOT SPECIFIED
Heating
YES
Stories
1
Total area
14,722 SF
Lot
3.43 ac (149,566 SF)
Zoning code
B2
APN
14562408940000
UPID
US87-0897266
Jurisdiction
VIRGINIA BEACH CITY
Zoning & alternative use
B2 · Virginia Beach, VA
Zoning B2 · permitted uses
B2 · 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
RETAIL STORES Current
Est. value
$4.3M
AUTO REPAIR, GARAGE
Est. value
$10.4M
RESTAURANT
Est. value
$6.6M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$5.2M
COMMERCIAL (GENERAL)
Est. value
$5.1M
RETAIL STORES Current
AUTO REPAIR, GARAGE
RESTAURANT
NEIGHBORHOOD: SHOPPING CENTER
COMMERCIAL (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
2005
Construction
TYPE NOT SPECIFIED
Heating
YES
Stories
1
Lot
3.43 ac
Current owner
From public records · entity-resolved
Hansen Ohana Security LLC
Entity
Free & Clear · 3 yrs held
Mailing address
PO BOX 1159, DEERFIELD, IL 60015-6002
Ownership since
2023
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
Feb 3, 2023
$6,272,727
Hansen Ohana Security LLC
Arlington Boulevard Apartments LLC
Special Warranty Deed
—
Feb 3, 2023
—
Hansen Ohana Security LLC
Arlington Boulevard Apartments LLC
Ground Lease
related
—
Aug 3, 2005
$5,614,263
Arlington Boulevard Apts LLC
Old Brandon Indian Riv Assocs
Grant Deed
—
Sep 27, 2004
$250,000
Brandon Indian Riv Assoc L Old
Webb Realty Co INC
Warranty Deed
—
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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