Office
New
For Sale
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4536 Bruce Rd #3, Chesapeake, VA 23321
The workspace includes a shared waiting area with an on-site receptionist, utilities, and access to common areas and a bathroom.
Property Size1,750 SF
Days on Market2
Property Features for 4536 Bruce Rd #3
General Information
Standard status
Active
Size
1,750 SF
Property subtype
Commercial
Amenities
common areas
bathroom
waiting area with receptionist
Building Details
Year Built
1962
Listing Agency:
Judy Boone Realty Inc
Listed By:
Patriot Property Management
(757) 478-4881
Source:
757patriotproperty
Added: Oct 20
Changed: Oct 21
Last Checked: Oct 21 at 2:03AM
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 Judy Boone Realty Inc
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Investment Insights
Based on property information with market context.
At 4536 Bruce Rd #3 in Chesapeake, this 1,750-square-foot office unit was built in 1962. The space has access to common areas and a bathroom, with utilities included. A shared waiting area and an on-site receptionist are also available.
Key Highlights
- 1750‑square‑foot office unit with common‑area access and a bathroom
- Shared waiting area and 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.
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Current Use
Location Intelligence
Trade Area within ½ mile
195
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
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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 unit - The workspace includes a shared waiting area with an on-site receptionist, utilities, and access to common areas and a bathroom.
Where is this office unit located?
The property is located at 4536 Bruce Rd #3 Chesapeake, VA.
What are key features of this property?
This property features: 1750‑square‑foot office unit with common‑area access and a bathroom; Shared waiting area and on‑site receptionist
