468 Viking Dr, Virginia Beach, VA
Class A office building in Lynnhaven submarket, renovated in 2018.
- Added:
- Jan 5, 2023
- Days on Market:
- 1251
- Last Refresh:
- May 20 at 9:02 pm
Property Features for 468 Viking Dr
General Information
- Standard status
- Active
- Size
- 33,420 SF
- Lot size
- 5.81 Acres
- Property subtype
- OFFICE
Listing agent John Duffy, Jr (757) 676-4644
Listing office Cushman & Wakefield | Thalhimer - Virginia Beach (757) 676-4644
Listing date Jan 5, 2023
Source Moodyscre
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 Cushman & Wakefield | Thalhimer - Virginia Beach
HighLights
- Approximately 13,000 SF of Class A office space available.
- Completely renovated in 2018, ideal for a corporate headquarters.
- Located in Opportunity Zone (O‑1 zoning) offering potential tax incentives.
- Ideally situated in the popular Lynnhaven submarket adjacent to I‑264 access.
- Excellent tenant mix (5 Tenants) making it an ideal owner occupant opportunity.
- Monument signage available.
Overview
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $701.8k | $21.00 |
| − Vacancy | −$108.8k | −$3.26 |
| EGI | $593.0k | $17.75 |
| − OpEx | −$148.3k | −$4.44 |
| NOI | $444.8k | $13.31 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Virginia Beach
- County
- Virginia Beach
- State
- Virginia
- Longitude
- -76.0713
- Latitude
- 36.8276
