Updated Office Building with Conference
New
For Sale
$1,150,000
121 Landmark Sq, Virginia Beach, VA 23452
The property offers a modern kitchen, several conference rooms, and security storage.
Property Size5,500 SF
Price / SF$209.09
Days on Market3
Property Features for 121 Landmark Sq
General Information
Standard status
Active
Size
5,500 SF
Property subtype
Commercial/Industrial
Zoning
B2
Site & Location
Highway Access
Yes
Road Access
Yes
Amenities
modern kitchen
multiple conference rooms
security storage
Building Details
Building Size
5,500 SF
Year Built
1988
Listing Agency:
Hogge Real Estate Inc
Listed By:
Wendy Hogge · License #0225104842
(804) 815-2355
Source:
Hoggerealestate
Added: Oct 23
Changed: Oct 24
Last Checked: Oct 24 at 2:39PM
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 Hogge Real Estate Inc
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Investment Insights
Based on property information with market context.
This 5,500-square-foot office building was constructed in 1988 and has been updated. Interior features include a modern kitchen, multiple conference rooms, and security storage. The property also provides parking and carries B2 zoning.
Located near the Interstate, the building offers access to Lynnhaven Parkway.
Located near the Interstate, the building offers access to Lynnhaven Parkway.
Key Highlights
- 5,500‑square‑foot office building
- Multiple conference rooms and a modern kitchen
- Security storage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$77,933
Cap Rate
6.78%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,558,660
$1.6M
Cap Rate 7%
$1,113,329
$1.1M
Cap Rate 9%
$865,922
$865.9K
Market Conditions
NOI Build-Up for 5,500 SF
Gross rent
$126.7K $23.04/SF
− Vacancy
−$22.8K −$4.15/SF
EGI
$103.9K $18.89/SF
− OpEx
−$26.0K −$4.72/SF
NOI
$77.9K $14.17/SF
Area
ZIP 23452
Vacancy
18.00%
Lease Rate
$23.04 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,558,660
Cap Rate 7%
$1,113,329
Cap Rate 9%
$865,922
Alternative Uses
Best Use
Office B
$1.11M
$974.2K – $1.30M
NOI $77,933 @ 7.0% cap · market cap 6.78%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.43M
$1.25M – $1.66M
NOI $99,792 @ 7.0% cap · market cap 8.68%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,163
Businesses Nearby
Explore this area
Business Placement
Demographics for 23452, VA
59,076
Population
23,455
Households
2.5
Avg Household Size
37
Median Age
35%
College-Educated
95%
High-School Grad
15.1 sq mi
ZIP Area
3,912
Density / Sq Mi
$77,327
Median Household Income
$44,009
Median Earnings
$1,571
Median Rent
$324,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office building - The property offers a modern kitchen, several conference rooms, and security storage.
Where is this office building located?
The property is located at 121 Landmark Sq Virginia Beach, VA.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: 5,500‑square‑foot office building; Multiple conference rooms and a modern kitchen; Security storage
