Downtown Office
314 W Washington Street, Suffolk, VA 23434
For Sale
$299,000
Commercial/Industrial, Suffolk, VA
Property Size1,500 SF
Lot Size0.06 Acres
Price / SF$199.33
Days on Market330
Property Features for 314 W Washington Street
General Information
Property type
Property subtype
Parking features
Subdivision
Standard status
Size
Lot size
Additional Details
Property Use
Taxes and HOA fees
Tax Annual Amount
Utilities
Heating system
Cooling system
Building Details
Year built
Listing Agency:
Weichert Realtors-KBL Company
(757) 935-5441
Listed By:
Linda Johnson
(757) 967-0410
Added: Dec 16, 2025
Changed: Nov 10
Last Checked: Nov 10 at 5:06PM
MLS# 10613612
Copyright © 2026 Real Estate Information Network, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 1,500-square-foot office building, constructed in 1980, sits on a 0.06-acre lot in downtown Suffolk. Its layout includes a reception area, four private offices, custom built-ins, two restrooms and space for administrative staff. Electric heat, a heat pump, central air and off-street parking are also provided.
The property is across from the Suffolk Library and near restaurants and retail. Route 13 and Route 58 provide access to Hampton Roads and other major areas.
The property is across from the Suffolk Library and near restaurants and retail. Route 13 and Route 58 provide access to Hampton Roads and other major areas.
Key Highlights
- 1,500‑square‑foot office building on a 0.06‑acre lot
- Reception area, four private offices and administrative workspace
- Two restrooms and custom built‑ins
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,424
Cap Rate
5.49%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$328,480
$328.5K
Cap Rate 7%
$234,629
$234.6K
Cap Rate 9%
$182,489
$182.5K
Market Conditions
NOI Build-Up for 1,500 SF
Gross rent
$27.7K $18.48/SF
− Vacancy
−$5.8K −$3.88/SF
EGI
$21.9K $14.60/SF
− OpEx
−$5.5K −$3.65/SF
NOI
$16.4K $10.95/SF
Area
Suffolk County, VA
Vacancy
21.00%
Lease Rate
$18.48 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$328,480
Cap Rate 7%
$234,629
Cap Rate 9%
$182,489
Alternative Uses
Best Use
Office B
$234.6K
$205.3K – $273.7K
NOI $16,424 @ 7.0% cap · market cap 5.49%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$347.6K
$304.1K – $405.5K
NOI $24,330 @ 7.0% cap · market cap 8.14%
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
Open Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
954
Businesses Nearby
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
Frequently Asked Questions
What type of property is this?
Office building - The interior includes reception, four private offices, custom built-ins, two restrooms and administrative workspace.
Where is this office building located?
The property is located at 314 W Washington Street Suffolk, VA.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: 1,500‑square‑foot office building on a 0.06‑acre lot; Reception area, four private offices and administrative workspace; Two restrooms and custom built‑ins
