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Property profile & analytics
OFF-MARKET
Estimated value
$790,000
Office buildings
Virginia Beach, VA 23451
Entity Owned
12-yr Hold
Absentee Owner
Free & Clear
Property ID
US87-1979129
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Total area
3,402 SF
Lot
0.33 ac (14,184 SF)
Zoning code
OR
APN
24189288820000
UPID
US87-1979129
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
by Request
CAP Approach
CAP
$745k
Comparable Approach
Comparable
$848k
Blend (final)
Blend
$790k
Owner & transaction history
33rd Street LLC · 12 yrs held
33rd Street LLC
since 2014
1 recorded transaction
Zoning & alternative use
OR · Virginia Beach, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$1.2M
+36.3%
Commercial (general)
$1.2M
+32.5%
Retail stores
$985,000
+11.7%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$805,000
6.5%
$745,000
7%
$690,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$880,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$1,200,000
Change: +36% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,165,000
Change: +32% · Conversion: Easy
RETAIL STORES
$985,000
Change: +12% · Conversion: Moderate
MEDICAL BUILDING
$800,000
Change: -9% · Conversion: Easy
Blend value · Realmo final
$790k
Range $711k – $869k · ±10%
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
$232 / 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
$11,098
Tax year 2024
Assessed value
$1,121,000
Assessed 2024
Previous assessed
$1,121,000
+0.0% YoY
Effective rate
0.99%
On assessed value
Assessed land
$1,120,000
Assessed improvement
$1,000
Land market value
$1,120,000
Improvement market value
$1,000
Total market value
$1,121,000
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
Off-Market
Heating
NONE
Total area
3,402 SF
Lot
0.33 ac (14,184 SF)
Zoning code
OR
APN
24189288820000
UPID
US87-1979129
Jurisdiction
VIRGINIA BEACH CITY
Zoning & alternative use
OR · Virginia Beach, VA
Zoning OR · permitted uses
OR · 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
$880,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.2M
COMMERCIAL (GENERAL)
Est. value
$1.2M
RETAIL STORES
Est. value
$985,000
MEDICAL BUILDING
Est. value
$800,000
OFFICE BUILDING Current
NEIGHBORHOOD: SHOPPING CENTER
COMMERCIAL (GENERAL)
RETAIL STORES
MEDICAL BUILDING
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
Heating
NONE
Lot
0.33 ac
Current owner
From public records · entity-resolved
33rd Street LLC
Entity
Free & Clear · 12 yrs held
Mailing address
308 35TH ST STE #101, VIRGINIA BEACH, VA 23451-2869
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2014
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 1, 2014
$695,000
33rd Street LLC
Stanton Dorothy B Trust
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.
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