A system and method for superimposing a virtual aiming mechanism with a projected system beam in a compact laser-based rangefinding instrument such as a laser-based tape measure which employs a laser rangefinding system beam and visible light beam to enable a user to merely pick up the instrument and, if the visible beam can be seen, merely aim the device without sighting by placing the resultant visible light dot on the target itself. Alternatively, if the beam cannot be seen, the user can sight through the instrument viewing aperture and see a virtual visible dot and superimpose it upon his view of the target.