Office/Warehouse Industrial Buildings For
1140 Loretta Ln Virginia Beach, VA
1140 Loretta Ln, Virginia Beach, VA, 00000
Contact for pricing
For Sale
Contact for pricing
Two new office/warehouse buildings with yard space, fully leased.
Property Size11,000 SF
Lot Size4.61 Acres
Price / SF$204.55
Days on Market748
Property Features for 1140 Loretta Ln
General Information
- Standard status
- Active
- Size
- 11,000 SF
- Lot size
- 4.61 Acres
- Property subtype
- INDUSTRIAL
Listing Agency
Dominion Commercial - Corporate
(757) 404-1400
Listed by
Gardner King
Source
Moodyscre
Added: Jul 4, 2024 Updated: Jul 6 at 10:19 am Checked: Jul 20 at 4:16 am
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 Dominion Commercial - Corporate
Investment Insights
Based on property information with market context.
Two new freestanding office/warehouse industrial buildings, each approximately 5,500 square feet, are available for purchase. The property includes yard space and is situated on a 2.03-acre lot. The buildings are 100% leased to quality credit tenants under NNN leases. The property is located in the YES Oceana zone, which offers a reimbursement of business license tax for 10 years. Additionally, the location is within a certified HUB zone, beneficial for Federal Contractors. Additional information on Opportunity Zones is available at yesvirginiabeach.com.
Key Highlights
- Two new +/-5,500 SF free standing office/warehouse industrial buildings with yard space
- 100% fully leased NNN quality credit tenants
- 2.03 Acres Located in the YES Oceana zone for reimbursement of business license tax for 10 years
Local 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 | $231.0k | $21.00 |
| − Vacancy | −$11.6k | −$1.05 |
| EGI | $219.5k | $19.95 |
| − OpEx | −$76.8k | −$6.98 |
| NOI | $142.6k | $12.97 |
11,000 SF · lease $21.00/SF/yr · vacancy 5.00% · expense 35.00%
Alternative Uses
Best Use
Flex RnD
$2.04M
$1.78M – $2.38M
NOI $142,643 @ 7.0% cap · market cap 6.34%
Second Best
Warehouse
$1.25M
$1.09M – $1.46M
NOI $87,519 @ 7.0% cap · market cap 3.89%
Theoretical Best
Office A
$2.82M
$2.47M – $3.29M
NOI $197,529 @ 7.0% cap · market cap 8.78%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Flex space
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FAQs
What type of property is this?
Warehouse - Two new office/warehouse buildings with yard space, fully leased.
Where is this warehouse located?
The property is located at 1140 Loretta Ln Virginia Beach, VA.
What is the asking price?
The asking price for this property is $2,250,000.
What are key features of this property?
This property features: Two new +/-5,500 SF free standing office/warehouse industrial buildings with yard space; 100% fully leased NNN quality credit tenants; 2.03 Acres Located in the YES Oceana zone for reimbursement of business license tax for 10 years
