Commonwealth Dentistry Medical
For Sale
$1,187,000
2003 Meade Pkwy, Suffolk, VA 23434
Medical office space offered for sale in Suffolk, Virginia, at a named Parkway address.
Property Size4,287 SF
Price / SF$276.88
Days on Market92
Property Features for 2003 Meade Pkwy
General Information
Standard status
Active
Size
4,287 SF
Property subtype
Single-Tenant Office Medical
Lease Type
NN
Amenities
Portfolio of Seven Single-Tenant Commonwealth Dentistry Locations in Virginia
Double Net Lease Through July 2033 with Annual CPI Increases
Corporate Guarantee: 60+ Locations in Three States
Over 52,000 Residents within Five Miles with Average Household Income of $91,856
Building Details
Building Size
4,287 SF
Listing Agency:
Marcus & Millichap - Milwaukee
Listed By:
Jeff Rowlett · License #License(s): WI: 74743-94, IL: 471.016866
(262) 364-1924
Source:
Marcusmillichap
Added: Jul 15
Changed: Oct 7
Last Checked: Oct 12 at 4:49PM
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 Marcus & Millichap - Milwaukee
Investment Insights
Based on property information with market context.
Commonwealth Dentistry is identified as a medical office property offered for sale at 2003 Meade Pkwy in Suffolk, Virginia. The building contains 4,287 square feet of property area and is associated with the Commonwealth Dentistry name.
The property is located in Suffolk, VA 23434. Available information identifies the asset as medical office space and provides a specific Parkway address for the offering. No additional building, site, tenant, or operating details are included.
The property is located in Suffolk, VA 23434. Available information identifies the asset as medical office space and provides a specific Parkway address for the offering. No additional building, site, tenant, or operating details are included.
Key Highlights
- 4,287‑square‑foot medical office property
- Located at 2003 Meade Pkwy, Suffolk, VA 23434
- Commonwealth Dentistry name associated with the property
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$60,282
Cap Rate
5.08%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,205,640
$1.2M
Cap Rate 7%
$861,171
$861.2K
Cap Rate 9%
$669,800
$669.8K
Market Conditions
NOI Build-Up for 4,287 SF
Gross rent
$108.0K $25.20/SF
− Vacancy
−$7.6K −$1.76/SF
EGI
$100.5K $23.44/SF
− OpEx
−$40.2K −$9.37/SF
NOI
$60.3K $14.06/SF
Area
Suffolk County, VA
Vacancy
7.00%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,205,640
Cap Rate 7%
$861,171
Cap Rate 9%
$669,800
Alternative Uses
Best Use
Healthcare Medical
$861.2K
$753.5K – $1.00M
NOI $60,282 @ 7.0% cap · market cap 5.08%
Second Best
Office B
$670.6K
$586.8K – $782.3K
NOI $46,940 @ 7.0% cap · market cap 3.95%
Theoretical Best
Office A
$993.4K
$869.2K – $1.16M
NOI $69,536 @ 7.0% cap · market cap 5.86%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
394
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 23434, VA
51,430
Population
21,764
Households
2.4
Avg Household Size
39
Median Age
26%
College-Educated
90%
High-School Grad
206.8 sq mi
ZIP Area
249
Density / Sq Mi
$75,798
Median Household Income
$47,291
Median Earnings
$1,242
Median Rent
$293,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Medical office space offered for sale in Suffolk, Virginia, at a named Parkway address.
Where is this medical office space located?
The property is located at 2003 Meade Pkwy Suffolk, VA.
What is the asking price?
The asking price for this property is $1,187,000.
What are key features of this property?
This property features: 4,287‑square‑foot medical office property; Located at 2003 Meade Pkwy, Suffolk, VA 23434; Commonwealth Dentistry name associated with the property
