2017 Wilroy Road, Suffolk, VA 23434
- Added:
- Jan 24, 2025
- Days on Market:
- 512
- Last Refresh:
- Jun 20 at 9:06 am
Property Features for 2017 Wilroy Road
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Parking features
- Off Street
- 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 agent Stacey Hayden (757) 690-0439
Listing office BHHS RW Towne Realty 5857 Harbour View Blvd #100, Chesapeake, VA (757) 935-9000
Listing date Jan 24, 2025
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HighLights
- Single dwelling on Wilroy Road with residential rental use plus an office side with private restroom, kitchenette, and storage
- 3‑bedroom residential side with fresh paint and new flooring; new kitchen cabinets and counters
- Updates include new vinyl siding and a new roof; freshly painted interior
- Connected to city water and sewage
- Central air and heat pump heating; off‑street parking
- Tax records show residential, commercial, and industrial usage; zoning listed as B‑2 with city turning lane installed
Overview
The property is located on Wilroy Road next to a Children’s Center, offering high visibility in a high-traffic area. Per tax records, the site is shown with usage as residential, commercial, and industrial. City improvements include the installation of a turning lane into the property, and the building is connected to city water and sewage.
With B-2 zoning and a functional split between office and residential use, the building may fit buyers or operators seeking a live/work style configuration, a mixed-use setup, or a property that can support both business and residential occupancy. The current office layout offers private restroom and kitchenette amenities, while the residential portion provides dedicated bedroom space for rental use.
Local Financial Insights For Mixed Use
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 | $45.9k | $21.60 |
| − Vacancy | −$4.6k | −$2.16 |
| EGI | $41.3k | $19.44 |
| − OpEx | −$15.5k | −$7.29 |
| NOI | $25.8k | $12.15 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Suffolk
- County
- Suffolk
- State
- Virginia
- Longitude
- -76.550421
- Latitude
- 36.769772
