Industrial Flex Unit For
113 S First Colonial Rd Ste 126 Virginia Beach, VA 23454
113 S First Colonial Rd Ste 126, Virginia Beach, VA, 23454
$295,000
For Sale
$295,000
1,500 SF industrial flex unit near Hilltop and I-264.
Property Size1,500 SF
Price / SF$196.67
Days on Market139
Property Features for 113 S First Colonial Rd Ste 126
General Information
- Standard status
- Active
- Size
- 1,500 SF
- Property subtype
- Industrial
Building Details
- Year Built
- 1984
Listing agency
The Katsias Company
(757) 285-8989
Listed by
John Katsias
(757) 285-8989
Source
Katsias
Added: Mar 5 Updated: Jul 10 at 12:58PM Checked: Jul 21 at 8:31AM
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 The Katsias Company
Investment Insights
Based on property information with market context.
Located in the Trade Center Condominium complex, this 1,500 SF industrial flex unit presents an opportunity for small business owners, service providers, or investors. Constructed in 1984, the unit is zoned for commercial and industrial use and features steel-frame construction (Class S – Pre-Engineered Steel). The property offers an open warehouse-style space suitable for light manufacturing, storage, distribution, or workshop needs. Its flexible layout and functional square footage allow for customization to accommodate various business operations. The property is situated near Hilltop, minutes from I-264 and the Oceanfront, providing access to business hubs and major traffic arteries in Virginia Beach.
Key Highlights
- Strategically located near Hilltop, I‑264, and the Oceanfront, providing convenient access to business hubs and major traffic arteries.
- Zoned for commercial/industrial use, suitable for small business owners, service providers, or investors.
- 1,500 SF industrial flex unit offering open warehouse‑style space.
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 | $19.8k | $13.20 |
| − Vacancy | −$792 | −$0.53 |
| EGI | $19.0k | $12.67 |
| − OpEx | −$6.7k | −$4.44 |
| NOI | $12.4k | $8.24 |
1,500 SF · lease $13.20/SF/yr · vacancy 4.00% · expense 35.00%
Alternative Uses
Best Use
Flex RnD
$176.5K
$154.4K – $205.9K
NOI $12,355 @ 7.0% cap · market cap 4.19%
Second Best
Warehouse
$170.5K
$149.2K – $198.9K
NOI $11,934 @ 7.0% cap · market cap 4.05%
Theoretical Best
Office A
$379.4K
$332.0K – $442.7K
NOI $26,559 @ 7.0% cap · market cap 9.00%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Big Boys Auto ...
Auto Repair Shop
Osb Manufacturing
(Bike/Boat/Book/etc) Store
Virginia Beach Elks ...
Volunteer Organization
Holltech Co
Industrial Manufacturer
Similar For Sale Nearby
FAQs
What type of property is this?
Flex space - 1,500 SF industrial flex unit near Hilltop and I-264.
Where is this flex space located?
The property is located at 113 S First Colonial Rd Ste 126 Virginia Beach, VA.
What is the asking price?
The asking price for this property is $295,000.
What are key features of this property?
This property features: Strategically located near Hilltop, I‑264, and the Oceanfront, providing convenient access to business hubs and major traffic arteries.; Zoned for commercial/industrial use, suitable for small business owners, service providers, or investors.; **1,500 SF industrial flex unit offering open warehouse‑style space.**
