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Property profile & analytics
OFF-MARKET
Estimated value
$12,000,000
Community centers
928 Diamond Spgs Rd Virginia Beach, VA 23455-6601
Entity Owned
1-yr Hold
Absentee Owner
Free & Clear
Property ID
US87-0530527
Property profile
Verified
Property type
Community centers
Use group
MINI-MALL
Year built
1990
Construction
TYPE NOT SPECIFIED
Total area
65,716 SF
Lot
12.56 ac (547,234 SF)
Zoning code
B2
APN
14684534830000
UPID
US87-0530527
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$12.00M
CAP Approach
CAP
$8.64M
Comparable Approach
Comparable
$13.30M
Blend (final)
Blend
$12.00M
Owner & transaction history
Bh Cypress Point Mf Development LLC · 1 yrs held
Bh Cypress Point Mf Development LLC
since 2024
Last sale
$12.0M
7 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
$12,000,000
ML approach
$12,000,000
CAP Approach
CAP Return
Estimation
6%
$9,360,000
6.5%
$8,640,000
7%
$8,025,000
Alternative Use
Use
Estimation
RETAIL STORES
$18,995,000
Change: -18% · Conversion: Easy
Blend value · Realmo final
$12.00M
Range $10.80M – $13.20M · ±10% · vs last sale $12.00M (Sep 5 2024)
Last sale anchor
$12.00M
Sep 5 2024
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
$183 / 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
$61,158
Tax year 2024
Assessed value
$6,177,600
Assessed 2024
Previous assessed
$6,177,600
+0.0% YoY
Effective rate
0.99%
On assessed value
Assessed land
$4,376,600
Assessed improvement
$1,801,000
Land market value
$4,376,600
Improvement market value
$1,801,000
Total market value
$6,177,600
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
Community centers
Use group
MINI-MALL
Status
Off-Market
Year built
1990
Construction
TYPE NOT SPECIFIED
Heating
NONE
Buildings
2
Stories
1
Total area
65,716 SF
Lot
12.56 ac (547,234 SF)
Zoning code
B2
APN
14684534830000
UPID
US87-0530527
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
Est. value
$19.0M
RETAIL STORES
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
1990
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Buildings
2
Lot
12.56 ac
Current owner
From public records · entity-resolved
Bh Cypress Point Mf Development LLC
Entity
Free & Clear · 1 yrs held
Mailing address
544 NEWTOWN RD STE #128, VIRGINIA BEACH, VA 23462-5603
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 5, 2024
—
Bh Cypress Point Mf Development LLC
Comm 2015 Cr24 Diamond Springs Road
Quit Claim Deed
related
—
Sep 5, 2024
$12,000,000
Bh Cypress Point Mf Development LLC
Comm 2015 Cr24 Diamond Springs Road
Special Warranty Deed
—
Jul 30, 2024
—
Bh Cypress Point Mf Development LLC
Ramon W Breeden JR
Quit Claim Deed
related
—
Dec 8, 2022
$5,390,000
Comm 2015 Cr24 Diamond Springs Road
Bsv Cypress Point LLC
Trustees Deed
related
—
Jul 1, 2015
$12,000,000
Bsv Cypress Point LLC
Cypress Improvements LLC
Grant Deed
related
$9,100,000 · Cantor Com'l R/e Lndg
Jan 27, 2011
—
Cypress Improvements LLC
—
Deed Of Trust
related
$102,500,000 · Manufacturers Traders & Trust
Jan 14, 2008
$10,750,000
Cypress Improvements LLC
E & A Southeast
Deed Of Trust
related
$104,000,000 · Manufacturers Traders & Trust
—
—
Cypress Improvements LLC
—
Deed Of Trust
related
$20,000,000 · E & A Cap LLC
—
—
Cypress Improvements LLC
—
Deed Of Trust
related
$8,250,000 · M&t Bk
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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