Renovated Office
New
For Sale
Contact for pricing
5029 Corporate Woods Dr #200, Virginia Beach, VA 23462
Elevator access, front visitor parking, and use of a reservable conference room support day-to-day business operations.
Property Size2,565 SF
Price / SF$0.01
Days on Market2
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Property Features for 5029 Corporate Woods Dr #200
General Information
Standard status
Active
Size
2,565 SF
Elevators
Yes
Property subtype
Commercial
Additional Details
Highway Access
Yes
Amenities
conference room
Building Details
Year Built
1988
Listing Agency:
Better Homes & Gdns Ntv Am Grp
Listed By:
Patriot Property Management
(757) 478-4881
Source:
757patriotproperty
Added: Oct 14
Changed: Oct 15
Last Checked: Oct 15 at 2:34AM
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 Better Homes & Gdns Ntv Am Grp
Investment Insights
Based on property information with market context.
This office suite features updated carpet, fresh paint, luxury vinyl plank flooring, and LED lighting. Elevators serve the building, and visitor parking is available at the front. Occupants can reserve a large conference room on the lower level at no additional cost. Building services are included in the rental arrangement.
The property is near Town Center in Virginia Beach, with access to I-264. Built in 1988, the building offers updated interior finishes and shared meeting space.
The property is near Town Center in Virginia Beach, with access to I-264. Built in 1988, the building offers updated interior finishes and shared meeting space.
Key Highlights
- Recent improvements include carpet, paint, luxury vinyl plank flooring, and LED lighting
- Front‑of‑building visitor parking and elevator service
- Large lower‑level conference room available by reservation at no additional cost
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,567
Suggested Prices Based on Cap Rates
Cap Rate 5%
$651,340
$651.3K
Cap Rate 7%
$465,243
$465.2K
Cap Rate 9%
$361,856
$361.9K
Market Conditions
NOI Build-Up for 2,565 SF
Gross rent
$50.8K $19.80/SF
− Vacancy
−$7.4K −$2.87/SF
EGI
$43.4K $16.93/SF
− OpEx
−$10.9K −$4.23/SF
NOI
$32.6K $12.70/SF
Area
ZIP 23462
Vacancy
14.50%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$651,340
Cap Rate 7%
$465,243
Cap Rate 9%
$361,856
Alternative Uses
Best Use
Office B
$465.2K
$407.1K – $542.8K
NOI $32,567 @ 7.0% cap · market cap 171,405.26%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$544.8K
$476.7K – $635.6K
NOI $38,133 @ 7.0% cap · market cap 200,700.00%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
967
Businesses Nearby
Explore this area
Business Placement
Demographics for 23462, VA
68,045
Population
29,729
Households
2.3
Avg Household Size
34
Median Age
31%
College-Educated
94%
High-School Grad
11.0 sq mi
ZIP Area
6,186
Density / Sq Mi
$69,680
Median Household Income
$43,613
Median Earnings
$1,652
Median Rent
$269,400
Median Home Value
Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office units - Elevator access, front visitor parking, and use of a reservable conference room support day-to-day business operations.
Where is this office units located?
The property is located at 5029 Corporate Woods Dr #200 Virginia Beach, VA.
What are key features of this property?
This property features: Recent improvements include carpet, paint, luxury vinyl plank flooring, and LED lighting; Front‑of‑building visitor parking and elevator service; Large lower‑level conference room available by reservation at no additional cost
