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    905 Lynnhaven Pkwy Virginia Beach, VA 23452
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    Property profile & analytics

    905 Lynnhaven Pkwy, Virginia Beach, VA 23452

    View on Map
    • Grocery and convenience stores
    • 788 SF
    • 0.42 lot acres
    Off-Market
    Last Sale Sep 22, 2022
    $949,000
    Property ID
    US87-1158778
    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
    $895,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Parkway Plaza / Shopping Center & Mall
    • Miller's / Gas Station

    Property Details for 905 Lynnhaven Pkwy

    Year built
    2010
    Construction
    TYPE NOT SPECIFIED
    Lot size
    0.42 lot acres
    Zone code
    B2
    Property type
    Grocery and convenience stores
    APN
    14963358000000
    APU
    14963358000000

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Sep 22, 2022 $949,000 Global Montello Group Corp Tidewater Investments LLC Special Warranty Deed —
    Oct 9, 2015 — Tidewater Investments LLC Virginia Electric & Power Co Quit Claim Deed · related —
    Apr 6, 2012 — Tidewater Investments LLC — Grant Deed · related $6.8M · Towne Bank
    Apr 19, 2004 $321,000 Tidewater Investments LLC Exxon Mobil Corp Warranty Deed $374k · Branch Banking & Trust Co Va
    — — Tidewater Investments LLC — Deed Of Trust · related $344k · Branch Banking & Trust Co

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $865,000
      ML approach
      $855,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $865,000
      Market price range: $450k - $865k

    • Alternative Use

      Use
      Estimation
      AUTO REPAIR, GARAGE
      $560,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Virginia Beach
    County
    Virginia Beach City
    State
    Virginia
    Longitude
    -76.0726
    Latitude
    36.8108
    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
    $8,318
    $512,200
    $328,000
    $840,200
    -
    $512,200
    $328,000
    $840,200

    Comparable in this City

    • Value Estimation by Request
      1,800 SF

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      3552 Holland Rd, Virginia Beach, VA 23452-4052
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    • Value Estimation
      $6,250,000
      41,908 SF

      2858 Virginia Bch Blvd

      GROCERY, SUPERMARKET
      2858 Virginia Bch Blvd, Virginia Beach, VA 23452-7614
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    • Value Estimation
      $630,000
      4,799 SF

      201 Rosemont Rd

      CONVENIENCE STORE
      201 Rosemont Rd, Virginia Beach, VA 23452-4258
      View Details
    • Value Estimation by Request
      2,640 SF

      3964 Holland Rd

      CONVENIENCE STORE
      3964 Holland Rd, Virginia Beach, VA 23452-2846
      View Details
    • Value Estimation by Request
      1,980 SF

      3597 Holland Rd

      CONVENIENCE STORE
      3597 Holland Rd, Virginia Beach, VA 23452-4064
      View Details
    • Value Estimation
      $9,810,000
      70,365 SF

      3333 Virginia Bch Blvd Ste, Unit 22

      GROCERY, SUPERMARKET
      3333 Virginia Bch Blvd Ste, Virginia Beach, VA 23452-5619
      View Details

    Similar Nearby for Sale

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      12,498 SF

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      Retail and medical office building available for sale.
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      Virginia Beach Retail Investment Opportunity

      Retail property in Virginia Beach with B-2 zoning.
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    • New
      $125,000
      0.83 Acres

      Commercial Land Near Lynnhaven Mall

      Versatile commercial land near major roads, shopping, and dining.
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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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      Virginia Beach Retail Opportunity

      36,477 SF retail space in prime Virginia Beach location.
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      4,935 SF

      Retail Property in Prime Location

      Income-producing retail property with high visibility and foot traffic.
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    Similar Nearby for Lease

    • Contact for pricing
      5,300 SF

      Retail Space in Virginia Beach

      5,300 SF retail space available for lease.
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      1,282 SF

      Retail Space in Neighborhood Center

      Retail space available in 7-11 anchored neighborhood center.
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      4,050 SF

      Retail Space Available For Lease

      Retail space available for lease in Virginia Beach.
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      2,400 SF

      Retail Space Near Kroger

      Retail spaces available adjacent to Kroger in Virginia Beach.
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    • Contact for pricing
      1,850 SF

      Retail Space on Virginia Beach

      Class A retail space in a high-visibility location.
      3636 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
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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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