Office/Warehouse Condo
For Sale
Contact for pricing
Pending
1220 Executive Blvd Suites 113 & 114, Chesapeake, VA 23320
Recently renovated office/warehouse condo with two suites, updated roof, exterior painting, and newly paved parking lot.
Property Size2,200 SF
Days on Market111
Property Features for 1220 Executive Blvd Suites 113 & 114
General Information
Standard status
Pending
Size
2,200 SF
Property subtype
Office, Industrial
Investment Type
Owner/User
Listing Agency:
Cushman & Wakefield Thalhimer - Norfolk/Virginia Beach, Virginia
Listed By:
Janet Whitbeck · License #VA
Source:
Crexi
Added: Jul 3
Changed: Oct 3
Last Checked: Oct 20 at 7:31PM
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 Cushman & Wakefield Thalhimer - Norfolk/Virginia Beach, Virginia
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This office/warehouse condo is offered as two suites (113 and 114) and provides approximately 2,200 SF of combined office and warehouse space. The condo has been recently renovated, including a new roof and new exterior painting.
Recent exterior improvements also include a newly paved and striped parking lot. The monthly condo fee of $330.78 covers water, sewer, trash, exterior lighting, parking lot maintenance, landscaping, and building insurance.
The offering is structured as an office/warehouse condo, suitable for users seeking a compact, combined work-and-storage configuration within a condo-managed building.
Recent exterior improvements also include a newly paved and striped parking lot. The monthly condo fee of $330.78 covers water, sewer, trash, exterior lighting, parking lot maintenance, landscaping, and building insurance.
The offering is structured as an office/warehouse condo, suitable for users seeking a compact, combined work-and-storage configuration within a condo-managed building.
Key Highlights
- Office/warehouse condo for sale at 1220 Executive Blvd, Suites 113 & 114, Chesapeake, VA 23320
- Approximately 2,200 SF combined office and warehouse space across two suites (113 & 114)
- Recently renovated condo with a new roof and new exterior painting
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,932
Cap Rate
4.53%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$358,640
$358.6K
Cap Rate 7%
$256,171
$256.2K
Cap Rate 9%
$199,244
$199.2K
Market Conditions
NOI Build-Up for 2,200 SF
Gross rent
$29.0K $13.20/SF
− Vacancy
−$1.5K −$0.66/SF
EGI
$27.6K $12.54/SF
− OpEx
−$9.7K −$4.39/SF
NOI
$17.9K $8.15/SF
Area
Chesapeake, VA
Vacancy
5.00%
Lease Rate
$13.20 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$358,640
Cap Rate 7%
$256,171
Cap Rate 9%
$199,244
Alternative Uses
Best Use
Flex RnD
$256.2K
$224.2K – $298.9K
NOI $17,932 @ 7.0% cap · market cap 4.53%
Second Best
Warehouse
$250.1K
$218.8K – $291.7K
NOI $17,504 @ 7.0% cap · market cap 4.42%
Theoretical Best
Office A
$650.2K
$568.9K – $758.6K
NOI $45,514 @ 7.0% cap · market cap 11.49%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,186
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 23320, VA
60,412
Population
26,131
Households
2.3
Avg Household Size
39
Median Age
38%
College-Educated
93%
High-School Grad
31.7 sq mi
ZIP Area
1,906
Density / Sq Mi
$81,736
Median Household Income
$49,403
Median Earnings
$1,654
Median Rent
$323,800
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Similar Off Market Nearby
- Clean Eatz — 1036 Volvo Pkwy #3, Chesapeake, VA 23320
- Firehouse Subs Crossways Center — 836 Eden Way N Ste 145B, Chesapeake, VA 23320
Frequently Asked Questions
What type of property is this?
Flex space - Recently renovated office/warehouse condo with two suites, updated roof, exterior painting, and newly paved parking lot.
Where is this flex space located?
The property is located at 1220 Executive Blvd Suites 113 & 114 Chesapeake, VA.
What is the asking price?
The asking price for this property is $396,000.
What are key features of this property?
This property features: Office/warehouse condo for sale at 1220 Executive Blvd, Suites 113 & 114, Chesapeake, VA 23320; Approximately 2,200 SF combined office and warehouse space across two suites (113 & 114); Recently renovated condo with a new roof and new exterior painting
