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516 S Independence Blvd $15/SF/Yr

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Listing Agency: Pembroke Realty Group Show Phone

Listed By: Lenny Burns · License #0225192904

Source: Moodyscre

Added: Jun 10, 2024 Changed: Jul 6 Last Checked: Jul 21 at 6:54AM

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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 Pembroke Realty Group

Investment Insights

Based on property information with market context.

This office space is situated near Lake Trashmore and offers convenient access to I-264. It is located close to the Virginia Beach Central Business District (CBD) but without the higher lease rates typically found in the CBD. The property provides a total area of 1193 square feet, suitable for various office uses.

Key Highlights

• Close to Virginia Beach CBD without CBD lease rates
• Easy access to I‑264
• Situated at Lake Trashmore

Property Analytics

Property Profile

Current Use

Dr. Matthew Parvis Family Counselor Interim HealthCare of Virginia ... Home Health Care Service Anthony Vecchio, LPC Psychotherapist Mariellen Blanton, LCSW Foster Care Service Nicolas Queen, LCSW Psychotherapist

Suggested Use

Top Pick Restaurant Building Supply Big Box & Wholesale Store Auto Repair Shop Auto Parts Store Pharmacy

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

NNN (Triple Net)

Lease Type

$2.25 /SF/Yr

CAM

Location Intelligence

Trade Area within ½ mile

1,194

Businesses Nearby

Explore this area Business Placement

Market

Lease Benchmarks for Virginia Beach, VA

$27.29 /SF/Yr

Avg Asking Price

$0.8–$195 /SF/Yr

Price Range

7,562 SF

Avg Space Size

This space is priced 45% below the average of $27.29 /SF/Yr.

Vacancy Rate% for Office in South region

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

Questions? Ask Rey

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What type of property is this? Where is this office units located? What is the lease rate? Find similar properties ... What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Office units - Office space with easy access to I-264.

Where is this office units located?

The property is located at 516 S Independence Blvd Virginia Beach, VA.

What is the lease rate?

The lease rate is $15 SF/Yr.

What are key features of this property?

This property features: Close to Virginia Beach CBD without CBD lease rates; Easy access to I‑264; Situated at Lake Trashmore