Building Details

Year Built 2009

Units 2

Tenancy Single

Listing Agency: Abbitt Realty Company LLC

Listed By: Patricia Green · License #0225051371 Show Phone

Source: Crexi

Added: Mar 11 Changed: Oct 14 Last Checked: Oct 14 at 8:04PM

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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 Abbitt Realty Company LLC

Investment Insights

Based on property information with market context.

This 3,558-square-foot medical office condo at 2216 Executive Drive, Suite A, provides a purpose-built setting for chiropractic services. The property includes treatment tables, therapy equipment, and office furnishings, allowing the physical space to support an established clinical layout.

Constructed in 2009, the property carries C-2 zoning. The offering described here covers the real estate and specified office equipment; any separate business transaction is subject to additional negotiation.

Key Highlights

• 3,558‑square‑foot medical office condo
• Treatment tables and therapy equipment included
• Office furnishings included

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$46,760

Cap Rate

9.08%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$935,200 $935.2K

Cap Rate 7%

$668,000 $668.0K

Cap Rate 9%

$519,556 $519.6K

Market Conditions

NOI Build-Up for 3,558 SF

Gross rent

$70.4K $19.80/SF

− Vacancy

−$8.1K −$2.28/SF

EGI

$62.3K $17.52/SF

− OpEx

−$15.6K −$4.38/SF

NOI

$46.8K $13.14/SF

Area

Hampton, VA

Vacancy

11.50%

Lease Rate

$19.80 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$935,200

Cap Rate 7%

$668,000

Cap Rate 9%

$519,556

Alternative Uses

Best Use

Healthcare Medical

$722.4K

$632.1K – $842.8K (±1% cap)

NOI $50,569 @ 7.0% cap · market cap 9.82%

Second Best

Office B

$668.0K

$584.5K – $779.3K (±1% cap)

NOI $46,760 @ 7.0% cap · market cap 9.08%

Theoretical Best

Office A

$925.3K

$809.6K – $1.08M (±1% cap)

NOI $64,770 @ 7.0% cap · market cap 12.58%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Spine Care of Tidewater ... Alternative Medicine Practice Beltone Audiology & Hearing ... Hearing Aid Store Alexandra Levine Alternative Medicine Practice Randall Miers Alternative Medicine Practice Randall Bruce Miers Alternative Medicine Practice

Suggested Use

Top Pick Parking Lot & Garage Garden Center Home Appliance Store Plumbing Service Storage Facility (Bike/Boat/Book/etc) Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

2,084

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 23666, VA

52,845

Population

25,117

Households

2.1

Avg Household Size

37

Median Age

27%

College-Educated

91%

High-School Grad

19.4 sq mi

ZIP Area

2,724

Density / Sq Mi

$70,798

Median Household Income

$42,552

Median Earnings

$1,439

Median Rent

$241,600

Median Home Value

Market

Vacancy Rate% for Office in South region

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this medical office space located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Medical Office Space - Configured chiropractic practice space with treatment equipment, furnishings, and C-2 zoning.

Where is this medical office space located?

The property is located at 2216 Executive Drive Suite A Hampton, VA.

What is the asking price?

The asking price for this property is $515,000.

What are key features of this property?

This property features: 3,558‑square‑foot medical office condo; Treatment tables and therapy equipment included; Office furnishings included