Multi-Suite Office
200 S Kellam Rd, Virginia Beach, VA 23462
For Sale
$845,000
Compact office property with several suites, B-2 zoning, and access to Virginia Beach’s Central Business District.
Property Size2,220 SF
Lot Size0.21 Acres
Price / SF$380.63
Days on Market101
Property Features for 200 S Kellam Rd
General Information
Standard status
Size
Class
Lot size
Property subtype
Zoning
Additional Details
Highway Access
Building Details
Building Size
Year Built
Buildings
Listing Agency:
Divaris Real Estate - Hampton Roads
Listed By:
Neal Sadler
(757) 724-2243
Source:
Divaris
Added: Aug 1
Changed: Oct 26
Last Checked: Nov 8 at 4:49AM
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 Divaris Real Estate - Hampton Roads
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Investment Insights
Based on property information with market context.
The property is a 2,220-square-foot office building constructed in 1960 on a 0.21-acre parcel. Its several smaller suites create a multi-occupant layout that can accommodate an owner-user, multiple occupants, or a blended arrangement. B-2 zoning adds flexibility for office-oriented use, while the existing configuration supports immediate occupancy or rental operations.
Located at 200 S Kellam Rd in Virginia Beach, the property sits near the I-264 and Independence Boulevard interchange. Best Buy is adjacent, and Virginia Beach Town Center is nearby. The site is within the city’s Central Business District, providing a centrally positioned office setting with convenient regional access.
Located at 200 S Kellam Rd in Virginia Beach, the property sits near the I-264 and Independence Boulevard interchange. Best Buy is adjacent, and Virginia Beach Town Center is nearby. The site is within the city’s Central Business District, providing a centrally positioned office setting with convenient regional access.
Key Highlights
- 2,220‑square‑foot office building on a 0.21‑acre parcel
- Several smaller office suites support multi‑occupant use
- B‑2 zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,187
Cap Rate
3.34%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$563,740
$563.7K
Cap Rate 7%
$402,671
$402.7K
Cap Rate 9%
$313,189
$313.2K
Market Conditions
NOI Build-Up for 2,220 SF
Gross rent
$44.0K $19.80/SF
− Vacancy
−$6.4K −$2.87/SF
EGI
$37.6K $16.93/SF
− OpEx
−$9.4K −$4.23/SF
NOI
$28.2K $12.70/SF
Area
ZIP 23462
Vacancy
14.50%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$563,740
Cap Rate 7%
$402,671
Cap Rate 9%
$313,189
Alternative Uses
Best Use
Office B
$402.7K
$352.3K – $469.8K
NOI $28,187 @ 7.0% cap · market cap 3.34%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$471.5K
$412.6K – $550.1K
NOI $33,004 @ 7.0% cap · market cap 3.91%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,443
Businesses Nearby
Explore this area
Business Placement
Demographics for 23462, VA
68,045
Population
29,729
Households
2.3
Avg Household Size
34
Median Age
31%
College-Educated
94%
High-School Grad
11.0 sq mi
ZIP Area
6,186
Density / Sq Mi
$69,680
Median Household Income
$43,613
Median Earnings
$1,652
Median Rent
$269,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Office buildings in Virginia Beach, VA
Properties on Market for Office buildings in Virginia Beach
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office building - Compact office property with several suites, B-2 zoning, and access to Virginia Beach’s Central Business District.
Where is this office building located?
The property is located at 200 S Kellam Rd Virginia Beach, VA.
What is the asking price?
The asking price for this property is $845,000.
What are key features of this property?
This property features: 2,220‑square‑foot office building on a 0.21‑acre parcel; Several smaller office suites support multi‑occupant use; B‑2 zoning
