Two-Story Office Flex
105 S First Colonial Rd Virginia Beach, VA 23454
For Sale
Contact for pricing
Two-story office/flex spaces for sale on S First Colonial Rd in Virginia Beach.
Property Size6,000 SF
Price / SF$106.67
Days on Market88
Property Features for 105 S First Colonial Rd
General Information
- Standard status
- Active
- Size
- 6,000 SF
- Property subtype
- Office, Industrial
Listing Agency:
Pembroke Realty Group
(757) 490-3141
Listed By:
Lenny Burns · License #VA 0225192904
Source:
Crexi
Added: Apr 28
Changed: Jul 23
Last Checked: Jul 23 at 12:43PM
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 Pembroke Realty Group
Investment Insights
Based on property information with market context.
This two-story office/flex building includes office/flex space configured for an on-site mix of work and light industrial or indoor recreational use. The property is presented for sale as two office/flex spaces within a single asset.
The building is located in the Hilltop area of Virginia Beach on S First Colonial Rd, offering space near Hilltop.
If you are seeking a property that can support an office user alongside light industrial or indoor recreational business needs, this two-story office/flex configuration is designed to accommodate those types of operations.
The building is located in the Hilltop area of Virginia Beach on S First Colonial Rd, offering space near Hilltop.
If you are seeking a property that can support an office user alongside light industrial or indoor recreational business needs, this two-story office/flex configuration is designed to accommodate those types of operations.
Key Highlights
- Two‑story office/flex spaces for sale
- Located on S First Colonial Rd in Virginia Beach, VA
- Suitable for office user, light industrial, or indoor recreational business
Financial Insights For Flex RnD
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 | $79.2k | $13.20 |
| − Vacancy | −$3.2k | −$0.53 |
| EGI | $76.0k | $12.67 |
| − OpEx | −$26.6k | −$4.44 |
| NOI | $49.4k | $8.24 |
6,000 SF · lease $13.20/SF/yr · vacancy 4.00% · expense 35.00%
Alternative Uses
Best Use
Office B
$1.20M
$1.05M – $1.40M
NOI $83,997 @ 7.0% cap · market cap 13.12%
Second Best
Flex RnD
$706.0K
$617.8K – $823.7K
NOI $49,421 @ 7.0% cap · market cap 7.72%
Theoretical Best
Office A
$1.52M
$1.33M – $1.77M
NOI $106,237 @ 7.0% cap · market cap 16.60%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Virgina Beach Deck ...
Construction Company
ApoHerb
(Bike/Boat/Book/etc) Store
Tidewater Import Car ...
Auto Repair Shop
VusArt
(Bike/Boat/Book/etc) Store
Hollteck Co
Engineer
FAQs
What type of property is this?
Flex space - Two-story office/flex spaces for sale on S First Colonial Rd in Virginia Beach.
Where is this flex space located?
The property is located at 105 S First Colonial Rd Virginia Beach, VA.
What is the asking price?
The asking price for this property is $640,000.
What are key features of this property?
This property features: Two‑story office/flex spaces for sale; Located on S First Colonial Rd in Virginia Beach, VA; Suitable for office user, light industrial, or indoor recreational business
