Office-Residential Mixed Use
For Sale
$395,000
2017 Wilroy Road, Suffolk, VA 23434
COMMERCIAL - Suffolk, VA
Property Size2,124 SF
Lot Size2.43 Acres
Price / SF$185.97
Days on Market558
Property Features for 2017 Wilroy Road
General Information
Property type
Commercial Sale
Property subtype
Other
Parking features
Off Street
Subdivision
WILROY
Standard status
Active
Size
2,124 SF
Lot size
2.43 Acres
Taxes and HOA fees
Tax Annual Amount
2909
Utilities
Heating system
Heat Pump (Heating)
Cooling system
Heat Pump, Central Air
Building Details
Year built
1950
Roof type
Shingle
Listing Agency:
BHHS RW Towne Realty · Berkshire Hathaway HomeServices
(757) 935-9000
Listed By:
Stacey Hayden
(757) 690-0439
Added: Jan 24, 2025
Changed: Aug 4
Last Checked: Aug 5 at 9:06PM
MLS# 10567431
Copyright © 2026 Real Estate Information Network, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This mixed-use property includes one side of the dwelling configured as an office space with a private restroom, kitchenette, and storage. The other side was used as a residential rental and includes three bedrooms. Recent updates include fresh paint, new flooring, new kitchen cabinets and counters, along with a new vinyl siding exterior and roof.
The property is located on Wilroy Road next to a children’s center, in an area described as high traffic. City water and sewage services are connected, and the city has installed a turning lane into the property for improved access.
Per tax records, usage is listed as residential, commercial, and industrial. The zoning is B-2, and the land use is described as residential.
The property is located on Wilroy Road next to a children’s center, in an area described as high traffic. City water and sewage services are connected, and the city has installed a turning lane into the property for improved access.
Per tax records, usage is listed as residential, commercial, and industrial. The zoning is B-2, and the land use is described as residential.
Key Highlights
- Property on Wilroy Road next to a Children’s Center with city‑installed turning lane and high traffic exposure
- Duplex‑style layout: one side used as an office with private restroom, kitchenette, and storage; the other side used as a residential rental
- Residential side features 3 bedrooms and was freshly painted with new flooring, new kitchen cabinets, and counters
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $39.3k | $18.48 |
| − Vacancy | −$8.2k | −$3.88 |
| EGI | $31.0k | $14.60 |
| − OpEx | −$7.8k | −$3.65 |
| NOI | $23.3k | $10.95 |
2,124 SF · lease $18.48/SF/yr · vacancy 21.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$332.2K
$290.7K – $387.6K
NOI $23,257 @ 7.0% cap · market cap 5.89%
Second Best
Apartment 5plus
$309.0K
$270.3K – $360.5K
NOI $21,627 @ 7.0% cap · market cap 5.48%
Theoretical Best
Office A
$492.2K
$430.7K – $574.2K
NOI $34,452 @ 7.0% cap · market cap 8.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
49
Businesses Nearby
Explore this area
Business Placement
Demographics for 23434, VA
51,430
Population
21,764
Households
2.4
Avg Household Size
39
Median Age
26%
College-Educated
90%
High-School Grad
206.8 sq mi
ZIP Area
249
Density / Sq Mi
$75,798
Median Household Income
$47,291
Median Earnings
$1,242
Median Rent
$293,600
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - Dwelling offers an office unit with private restroom, kitchenette, and storage, plus a residential rental side.
Where is this office units located?
The property is located at 2017 Wilroy Road Suffolk, VA.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: Property on Wilroy Road next to a Children’s Center with city‑installed turning lane and high traffic exposure; Duplex‑style layout: one side used as an office with private restroom, kitchenette, and storage; the other side used as a residential rental; Residential side features 3 bedrooms and was freshly painted with new flooring, new kitchen cabinets, and counters
