Class A Office
468 Viking Dr Virginia Beach, VA 23452
For Sale
Contact for pricing
Completely renovated Class A office building with approximately 13,000 SF available and monument signage.
Property Size33,420 SF
Price / SF$167.56
Days on Market1301
Property Features for 468 Viking Dr
General Information
Standard status
Active
Size
33,420 SF
Property subtype
OFFICE
Listing Agency:
Cushman & Wakefield | Thalhimer - Virginia Beach
(757) 676-4644
Listed By:
John Duffy, Jr
(757) 676-4644
Source:
Moodyscre
Added: Jan 5, 2023
Changed: Jul 27
Last Checked: Jul 28 at 2:23PM
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
Investment Insights
Based on property information with market context.
This Class A office building was completely renovated in 2018 and offers an owner-occupant friendly setup for a corporate headquarters. The building includes approximately 13,000 SF of available space and features monument signage.
The property is ideally situated in the Lynnhaven submarket, adjacent to I-264 access. It is served by an O-1 zoning designation in an Opportunity Zone.
The current tenancy is described as an excellent tenant mix with five tenants, supporting a built-in occupancy framework for investors or owner users.
The property is ideally situated in the Lynnhaven submarket, adjacent to I-264 access. It is served by an O-1 zoning designation in an Opportunity Zone.
The current tenancy is described as an excellent tenant mix with five tenants, supporting a built-in occupancy framework for investors or owner users.
Key Highlights
- Approximately 13,000 SF of space available in a Class A office building
- Completely renovated in 2018
- Monument signage available
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 | $770.0k | $23.04 |
| − Vacancy | −$138.6k | −$4.15 |
| EGI | $631.4k | $18.89 |
| − OpEx | −$157.8k | −$4.72 |
| NOI | $473.5k | $14.17 |
33,420 SF · lease $23.04/SF/yr · vacancy 18.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$6.76M
$5.92M – $7.89M
NOI $473,548 @ 7.0% cap · market cap 8.46%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$8.66M
$7.58M – $10.11M
NOI $606,372 @ 7.0% cap · market cap 10.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Office building - Completely renovated Class A office building with approximately 13,000 SF available and monument signage.
Where is this office building located?
The property is located at 468 Viking Dr Virginia Beach, VA.
What is the asking price?
The asking price for this property is $5,600,000.
What are key features of this property?
This property features: Approximately 13,000 SF of space available in a Class A office building; Completely renovated in 2018; Monument signage available
