Two-Level Office
For Sale
Contact for pricing
700 University City Blvd, Blacksburg, VA 24060
Two-level office building with large floor plates and 90 on-site parking spaces.
Property Size56,044 SF
Price / SF$140.07
Days on Market899
Property Features for 700 University City Blvd
General Information
Standard status
Active
Size
56,044 SF
Total Parking Spaces
90
Property subtype
OFFICE
Building Details
Stories
2
Listing Agency:
Poe & Cronk Real Estate Group
(540) 855-3655
Listed By:
Matt Huff · License #0225189906
(540) 493-4970
Source:
Moodyscre
Added: Feb 13, 2024
Changed: Jul 23
Last Checked: Jul 23 at 10:06AM
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 Poe & Cronk Real Estate Group
Investment Insights
Based on property information with market context.
This two-level office building includes a 20,044 square-foot addition and offers adaptable space with large floor plates that can support a transition to multiple types of new uses. The overall property size is 56,044 square feet.
The building is conveniently located within a short walking distance to Virginia Tech and downtown Blacksburg. On-site parking totals 90 spaces, and there is an adjacent Blacksburg transit bus stop.
For buyers considering timing and occupancy, the property notes a potential short-term lease-back opportunity for the future owner to generate revenue immediately.
The building is conveniently located within a short walking distance to Virginia Tech and downtown Blacksburg. On-site parking totals 90 spaces, and there is an adjacent Blacksburg transit bus stop.
For buyers considering timing and occupancy, the property notes a potential short-term lease-back opportunity for the future owner to generate revenue immediately.
Key Highlights
- Two‑level office building with a 20,044 SF addition
- Large floor plates offer flexibility to transition to multiple new use types
- Within short walking distance to Virginia Tech and downtown Blacksburg
Financial Insights For Office B
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 | $1.10M | $19.68 |
| − Vacancy | −$189.7k | −$3.38 |
| EGI | $913.2k | $16.30 |
| − OpEx | −$228.3k | −$4.07 |
| NOI | $684.9k | $12.22 |
56,044 SF · lease $19.68/SF/yr · vacancy 17.20% · expense 25.00%
Alternative Uses
Best Use
Office B
$9.78M
$8.56M – $11.42M
NOI $684,929 @ 7.0% cap · market cap 8.73%
Second Best
—
—
no second resolved use
Theoretical Best
Flex RnD
$13.26M
$11.61M – $15.47M
NOI $928,405 @ 7.0% cap · market cap 11.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
789
Businesses Nearby
Explore this area
Business Placement
Demographics for 24060, VA
46,755
Population
22,797
Households
2.1
Avg Household Size
28
Median Age
63%
College-Educated
98%
High-School Grad
130.8 sq mi
ZIP Area
357
Density / Sq Mi
$63,496
Median Household Income
$31,827
Median Earnings
$1,266
Median Rent
$412,300
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Two-level office building with large floor plates and 90 on-site parking spaces.
Where is this office building located?
The property is located at 700 University City Blvd Blacksburg, VA.
What is the asking price?
The asking price for this property is $7,850,000.
What are key features of this property?
This property features: Two‑level office building with a 20,044 SF addition; Large floor plates offer flexibility to transition to multiple new use types; Within short walking distance to Virginia Tech and downtown Blacksburg
