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Property profile & analytics
FOR LEASE
Office buildings
900 Commonwealth Pl Virginia Beach, VA 23464
Entity Owned
5-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US87-0071712
For Lease
1 / 3
$14 SF/Yr
900 Commonwealth Pl, Virginia Beach, VA 23464
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
1975
Construction
TYPE NOT SPECIFIED
Total area
20,052 SF
Lot
1.09 ac (47,306 SF)
Zoning code
B2
APN
14564294630000
UPID
US87-0071712
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
-
Green Light Towing Service Auto Repair Shop
-
ngnly - Next Generation Networking Marketing & Advertising (Bike/Boat/Book/etc) Store
-
SEOgine Marketing & Advertising
-
Cleverlane CS LLC Notary Public Business Management Consultant
-
Legal Evidence Corp IT Consulting Firm Tech Support Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.31M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.85M
Blend (final)
Blend
$2.37M
Owner & transaction history
Cppc 9 LLC · 5 yrs held
Cppc 9 LLC
since 2021
Last sale
$1.9M
2 recorded transactions
Zoning & alternative use
B2 · Virginia Beach, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
$2,240,000
ML approach
$2,310,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$3,700,000
Current use
INDUSTRIAL (GENERAL)
$3,040,000
Change: -18% · Conversion: Difficult
Blend value · Realmo final
$2.37M
Range $2.13M – $2.61M · ±10% · vs last sale $1.90M (May 6 2021)
Last sale anchor
$1.90M
May 6 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
$118 / 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
$20,116
Tax year 2024
Assessed value
$2,031,900
Assessed 2024
Previous assessed
$2,031,900
+0.0% YoY
Effective rate
0.99%
On assessed value
Assessed land
$470,500
Assessed improvement
$1,561,400
Land market value
$470,500
Improvement market value
$1,561,400
Total market value
$2,031,900
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
For Lease
Year built
1975
Construction
TYPE NOT SPECIFIED
Heating
ELECTRIC
Cooling
CENTRAL
Stories
2
Total area
20,052 SF
Lot
1.09 ac (47,306 SF)
Zoning code
B2
APN
14564294630000
UPID
US87-0071712
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
OFFICE BUILDING Current
Est. value
$3.7M
INDUSTRIAL (GENERAL)
Est. value
$3.0M
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
1975
Construction
TYPE NOT SPECIFIED
Heating
ELECTRIC
Cooling
Yes
Stories
2
Lot
1.09 ac
Current owner
From public records · entity-resolved
Cppc 9 LLC
Entity
Mailing address
414 S MAIN ST STE #201, ROCHESTER, MI 48307-2070
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2021
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
May 6, 2021
$1,900,000
Cppc 9 LLC
Tri City Properties LLC
Bargain And Sale Deed
$1,425,000 · Old Point National Bank Of Phoebus
Jan 24, 2007
$848,500
Tri-city Properties LLC
College Park Associates LLC
Grant 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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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