Three-Story Office
For Sale
Contact for pricing
1040 University Boulevard, Portsmouth, VA 23703
Built in 2007, the property offers a multi-floor office environment with medical, government, and private-sector tenancy.
Property Size59,878 SF
Price / SF$108.55
Days on Market126
Property Features for 1040 University Boulevard
General Information
Standard status
Active
Size
59,878 SF
Class
A
Total Parking Spaces
232
Property subtype
Office
Occupancy
77%
Investment Type
Value Add
Net Operating Income
$581,787
Building Details
Year Built
2007
Stories
3
Tenancy
Multi
Listing Agency:
Harvey Lindsay Commercial Real Estate
(757) 640-8700
Listed By:
Ryan King · License #VA
Source:
Crexi
Added: Apr 29
Changed: Aug 30
Last Checked: Aug 30 at 8:38PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Harvey Lindsay Commercial Real Estate
Investment Insights
Based on property information with market context.
This three-story office property contains approximately 59,878 rentable square feet and was completed in 2007. The building is 78% leased, with occupancy spanning regional medical practices alongside GSA, national, and local organizations. Named occupants include Bon Secours, the Food and Drug Administration, the Supreme Court of Virginia, Rein, and Edward Jones. More than 13,000 square feet of contiguous space is available for a headquarters or additional office requirement.
The property is situated at Hampton Roads Crossing at the junction of Route 164 and College Drive in Portsmouth, Virginia. The surrounding development includes shops, dining, homes, and apartments, while the building has visibility from Route 164, which carries 51,557 VPD. Its position provides central access to the Suffolk, Chesapeake, Norfolk, Portsmouth, and Peninsula markets.
The property is situated at Hampton Roads Crossing at the junction of Route 164 and College Drive in Portsmouth, Virginia. The surrounding development includes shops, dining, homes, and apartments, while the building has visibility from Route 164, which carries 51,557 VPD. Its position provides central access to the Suffolk, Chesapeake, Norfolk, Portsmouth, and Peninsula markets.
Key Highlights
- Approximately 59,878 rentable square feet across three stories
- Built in 2007
- 78% leased to medical, government, national, and local tenants
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
658
Businesses Nearby
Explore this area
Business Placement
Demographics for 23703, VA
26,388
Population
10,856
Households
2.4
Avg Household Size
38
Median Age
29%
College-Educated
91%
High-School Grad
13.9 sq mi
ZIP Area
1,898
Density / Sq Mi
$75,804
Median Household Income
$46,288
Median Earnings
$1,377
Median Rent
$273,700
Median Home Value
Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office building - Built in 2007, the property offers a multi-floor office environment with medical, government, and private-sector tenancy.
Where is this office building located?
The property is located at 1040 University Boulevard Portsmouth, VA.
What is the asking price?
The asking price for this property is $6,500,000.
What are key features of this property?
This property features: Approximately 59,878 rentable square feet across three stories; Built in 2007; 78% leased to medical, government, national, and local tenants
