Multi-Tenant Office
For Sale
$2,350,000
4624 Pembroke Blvd, Virginia Beach, VA 23455
Fully leased office property with three suites, a brick exterior, newer roof, and paved parking.
Property Size9,480 SF
Lot Size0.80 Acres
Price / SF$247.89
Days on Market48
Property Features for 4624 Pembroke Blvd
General Information
Standard status
Active
Size
9,480 SF
Lot size
0.80 Acres
Property subtype
Commercial
Occupancy
100%
Additional Details
Gross Income
$196,815
Office Units
3
Building Details
Year Built
1997
Buildings
1
Building Size
9,480 SF
Construction
brick
Tenancy
Multi
Listing Agency:
Coastal Group Inc
Listed By:
Patriot Property Management
(757) 478-4881
Source:
757patriotproperty
Added: Sep 2
Changed: Oct 16
Last Checked: Oct 19 at 6:37AM
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 Coastal Group Inc
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Investment Insights
Based on property information with market context.
This fully leased office building at 4624 Pembroke Blvd in Virginia Beach contains approximately 9,480 square feet configured as three office suites. Built in 1997, the property has a brick exterior and a newer roof, along with asphalt paving and on-site parking.
The 34,761-square-foot site includes concrete walkways, curb and gutter improvements, and metal fencing. The existing multi-tenant configuration provides a defined office layout with the property currently occupied under leases.
The 34,761-square-foot site includes concrete walkways, curb and gutter improvements, and metal fencing. The existing multi-tenant configuration provides a defined office layout with the property currently occupied under leases.
Key Highlights
- Approximately 9,480 sq. ft. of building space
- Three office suites in a multi‑tenant configuration
- 34,761 sq. ft. site
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$126,167
Cap Rate
5.37%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,523,340
$2.5M
Cap Rate 7%
$1,802,386
$1.8M
Cap Rate 9%
$1,401,856
$1.4M
Market Conditions
NOI Build-Up for 9,480 SF
Gross rent
$199.1K $21.00/SF
− Vacancy
−$30.9K −$3.26/SF
EGI
$168.2K $17.75/SF
− OpEx
−$42.1K −$4.44/SF
NOI
$126.2K $13.31/SF
Area
Virginia Beach, VA
Vacancy
15.50%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,523,340
Cap Rate 7%
$1,802,386
Cap Rate 9%
$1,401,856
Alternative Uses
Best Use
Office B
$1.80M
$1.58M – $2.10M
NOI $126,167 @ 7.0% cap · market cap 5.37%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.43M
$2.13M – $2.84M
NOI $170,234 @ 7.0% cap · market cap 7.24%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
3
Office units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
673
Businesses Nearby
Explore this area
Business Placement
Demographics for 23455, VA
50,599
Population
22,286
Households
2.3
Avg Household Size
38
Median Age
42%
College-Educated
95%
High-School Grad
15.2 sq mi
ZIP Area
3,329
Density / Sq Mi
$88,223
Median Household Income
$49,119
Median Earnings
$1,610
Median Rent
$397,700
Median Home Value
Check the figures for this property
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 - Fully leased office property with three suites, a brick exterior, newer roof, and paved parking.
Where is this office building located?
The property is located at 4624 Pembroke Blvd Virginia Beach, VA.
What is the asking price?
The asking price for this property is $2,350,000.
What are key features of this property?
This property features: Approximately 9,480 sq. ft. of building space; Three office suites in a multi‑tenant configuration; 34,761 sq. ft. site
