1108 Wilroy Rd, Suffolk, VA 23434

Listing Agency: Colliers | Norfolk Show Phone

Listed By: Ben R Anderson Show Phone

Source: Moodyscre

Added: May 11 Changed: Nov 5 Last Checked: Nov 10 at 11:08AM

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Investment Insights

Based on property information with market context.

This property features a 1,432 SF office building on approximately 0.93 acres, with outdoor yard/storage potential. The HVAC has been replaced in 2025, supporting a more current mechanical setup for the next occupant.

Access is described as excellent, with proximity to US Route 58 about one mile away and State Route 460 about four miles away.

For sale as an office building offering a compact indoor footprint alongside usable exterior space for storage needs.

Key Highlights

• 1,432 SF single‑tenant office building on 0.93 acres with outdoor yard/storage potential
• HVAC replaced in 2025
• Excellent access: about 1 mile to US Route 58 and about 4 miles to State Route 460

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$15,680

Cap Rate

4.82%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$313,600 $313.6K

Cap Rate 7%

$224,000 $224.0K

Cap Rate 9%

$174,222 $174.2K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,432 SF

Gross rent

$26.5K $18.48/SF

− Vacancy

−$5.6K −$3.88/SF

EGI

$20.9K $14.60/SF

− OpEx

−$5.2K −$3.65/SF

NOI

$15.7K $10.95/SF

Area

Suffolk County, VA

Vacancy

21.00%

Lease Rate

$18.48 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$313,600

Cap Rate 7%

$224,000

Cap Rate 9%

$174,222

Alternative Uses

Best Use

Office B

$224.0K

$196.0K – $261.3K (±1% cap)

NOI $15,680 @ 7.0% cap · market cap 4.82%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$331.8K

$290.3K – $387.1K (±1% cap)

NOI $23,227 @ 7.0% cap · market cap 7.15%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Ernest C Hawkins ... Land Surveyor Hawkins & Associates Land Surveyor

Suggested Use

Top Pick Real Estate Agency Restaurant Building Supply Law Firm Hair Salon Spa & Massage Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

99

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

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

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Frequently Asked Questions

What type of property is this?

Office building - Single-tenant office building with outdoor yard/storage potential and HVAC replacement completed in 2025.

Where is this office building located?

The property is located at 1108 Wilroy Rd Suffolk, VA.

What is the asking price?

The asking price for this property is $325,000.

What are key features of this property?

This property features: 1,432 SF single‑tenant office building on 0.93 acres with outdoor yard/storage potential; HVAC replaced in 2025; Excellent access: about 1 mile to US Route 58 and about 4 miles to State Route 460