Office Unit with Reception
For Sale
Contact for pricing
3-4536 Bruce Rd, Chesapeake, VA 23321
The workspace includes shared areas, a bathroom, utilities, and access to an on-site receptionist.
Property Size1,750 SF
Days on Market17
Property Features for 3-4536 Bruce Rd
General Information
Standard status
Active
Size
1,750 SF
Site & Location
Neighborhood
Radcliffe Meadows
Additional Details
Office Units
1
Property Use
Office
Amenities
common areas
bathroom
waiting area with receptionist on site
Listing Agency:
John E. Wood Realty Inc.
(757) 488-6161
Listed By:
Sandra Wood
Source:
Exprealty
Added: Oct 19
Changed: Oct 30
Last Checked: Nov 3 at 9:44AM
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 John E. Wood Realty Inc.
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 1,750-square-foot office unit provides access to shared areas and a bathroom. Utilities are included, and the property has a waiting area served by an on-site receptionist.
Key Highlights
- 1,750‑square‑foot office unit
- Shared areas and bathroom available
- Waiting area with an on‑site receptionist
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,775
Suggested Prices Based on Cap Rates
Cap Rate 5%
$535,500
$535.5K
Cap Rate 7%
$382,500
$382.5K
Cap Rate 9%
$297,500
$297.5K
Market Conditions
NOI Build-Up for 1,750 SF
Gross rent
$42.0K $24.00/SF
− Vacancy
−$6.3K −$3.60/SF
EGI
$35.7K $20.40/SF
− OpEx
−$8.9K −$5.10/SF
NOI
$26.8K $15.30/SF
Area
Chesapeake, VA
Vacancy
15.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$535,500
Cap Rate 7%
$382,500
Cap Rate 9%
$297,500
Alternative Uses
Best Use
Office B
$382.5K
$334.7K – $446.3K
NOI $26,775 @ 7.0% cap · market cap 2,677,500.00%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$517.2K
$452.6K – $603.4K
NOI $36,204 @ 7.0% cap · market cap 3,620,400.00%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
1
Office units
Location Intelligence
Trade Area within ½ mile
77
Businesses Nearby
Explore this area
Business Placement
Demographics for 23321, VA
37,752
Population
14,836
Households
2.5
Avg Household Size
38
Median Age
39%
College-Educated
95%
High-School Grad
26.7 sq mi
ZIP Area
1,414
Density / Sq Mi
$98,257
Median Household Income
$51,133
Median Earnings
$1,434
Median Rent
$352,000
Median Home Value
Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office unit - The workspace includes shared areas, a bathroom, utilities, and access to an on-site receptionist.
Where is this office unit located?
The property is located at 3-4536 Bruce Rd Chesapeake, VA.
What are key features of this property?
This property features: 1,750‑square‑foot office unit; Shared areas and bathroom available; Waiting area with an on‑site receptionist
