Office/Warehouse Condo
1220 Executive Blvd Suites 113 & 114 Chesapeake, VA 23320
1220 Executive Blvd Suites 113 & 114, Chesapeake, VA, 23320
Contact for pricing
For Sale
Contact for pricing
Recently renovated office/warehouse condo with two suites, updated roof, exterior painting, and newly paved parking lot.
Property Size2,200 SF
Price / SF$180
Days on Market20
Property Features for 1220 Executive Blvd Suites 113 & 114
General Information
- Standard status
- Active
- Size
- 2,200 SF
- Property subtype
- Office, Industrial
Listing agency
Cushman & Wakefield Thalhimer - Norfolk/Virginia Beach, Virginia
Listed by
Janet Whitbeck · License #VA
Source
Crexi
Added: Jul 3 Updated: Jul 21 at 8:43PM Checked: Jul 22 at 9:32AM
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
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
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 | $29.0k | $13.20 |
| − Vacancy | −$1.5k | −$0.66 |
| EGI | $27.6k | $12.54 |
| − OpEx | −$9.7k | −$4.39 |
| NOI | $17.9k | $8.15 |
2,200 SF · lease $13.20/SF/yr · vacancy 5.00% · expense 35.00%
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 local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Virginia Dumpster Rental
General Contractor
VTS Chiropractic & Wellness ...
Alternative Medicine Practice
SEL.Electric LLC
Electrical Service
Pride Hair Collection
Cosmetic Store
Fresh Faith Apparel
Clothing Store
Similar For Sale Nearby
Similar Off Market Nearby
- Firehouse Subs Crossways Center — 836 Eden Way N Ste 145B, Chesapeake, VA 23320
- Clean Eatz — 1036 Volvo Pkwy #3, Chesapeake, VA 23320
FAQs
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
