Medical Office Building For
1419 Cedar Rd Chesapeake, VA
For Sale
Contact for pricing
Two-story medical office building in Southern Chesapeake submarket.
Property Size15,638 SF
Lot Size1.67 Acres
Price / SF$330.92
Days on Market1094
Property Features for 1419 Cedar Rd
General Information
Standard status
Active
Size
15,638 SF
Lot size
1.67 Acres
Property subtype
OFFICE
Listing Agency:
Divaris Real Estate - Hampton Roads
(757) 333-4383
Listed By:
Jason Oliver
Source:
Moodyscre
Added: Aug 1, 2023
Changed: Jul 6
Last Checked: Jul 29 at 4:36AM
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 Divaris Real Estate - Hampton Roads
Investment Insights
Based on property information with market context.
The property at 1419 Cedar Road is a two-story medical office building situated in the Southern Chesapeake submarket. Constructed in 2006, the building spans 15,638 square feet. It is currently occupied by Dental Care Alliance and Cedar Road Medical Associates, which is part of the Bayview Medical Group family. The location offers high visibility, directly across from Tidewater Community College’s Chesapeake campus. The Southern Chesapeake submarket encompasses 720,000 square feet of office space and has a vacancy rate of 5.4%.
Key Highlights
- Highly visible location directly across from Tidewater Community College’s Chesapeake campus.
- Located in the well‑established Southern Chesapeake submarket.
- Low submarket vacancy rate of just 5.4%.
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 | $375.3k | $24.00 |
| − Vacancy | −$56.3k | −$3.60 |
| EGI | $319.0k | $20.40 |
| − OpEx | −$79.8k | −$5.10 |
| NOI | $239.3k | $15.30 |
15,638 SF · lease $24.00/SF/yr · vacancy 15.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$3.42M
$2.99M – $3.99M
NOI $239,261 @ 7.0% cap · market cap 4.62%
Second Best
Healthcare Medical
$3.18M
$2.79M – $3.72M
NOI $222,935 @ 7.0% cap · market cap 4.31%
Theoretical Best
Office A
$4.62M
$4.04M – $5.39M
NOI $323,519 @ 7.0% cap · market cap 6.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Medical Office Space - Two-story medical office building in Southern Chesapeake submarket.
Where is this medical office space located?
The property is located at 1419 Cedar Rd Chesapeake, VA.
What is the asking price?
The asking price for this property is $5,175,000.
What are key features of this property?
This property features: Highly visible location directly across from Tidewater Community College’s Chesapeake campus.; Located in the well‑established Southern Chesapeake submarket.; Low submarket vacancy rate of just 5.4%.
