Medical Office
5249 Providence Road Virginia Beach, VA 23464
5249 Providence Road, Virginia Beach, VA, 23464
$640,800
For Sale
$640,800
Medical office condominium with an existing layout, plumbing, and infrastructure, including multiple exam/procedure rooms.
Property Size3,204 SF
Price / SF$200
Days on Market71
Property Features for 5249 Providence Road
General Information
- Standard status
- Active
- Size
- 3,204 SF
- Property subtype
- Office
Listing agency
S.L. Nusbaum Realty Co - Corporate
(757) 675-0321
Listed by
Austin Glaser · License #0225260892
(757) 675-0321
Source
Slnusbaum
Added: May 14 Updated: Jul 22 at 8:38PM Checked: Jul 22 at 8:38PM
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 S.L. Nusbaum Realty Co - Corporate
Investment Insights
Based on property information with market context.
5249 Providence Road is a 3,204 SF medical office condominium featuring an existing medical layout with plumbing and infrastructure already in place. The functional interior includes multiple exam/procedure rooms, along with a reception area and additional support space designed to support day-to-day patient and staff workflow.
The property is positioned along a well-traveled corridor with convenient access to major thoroughfares, supporting connectivity for both patients and staff.
This adaptable office configuration is well-suited for medical, dental, or other professional office users seeking a space that can be customized with reduced upfront buildout requirements, given the existing medical-oriented improvements.
The property is positioned along a well-traveled corridor with convenient access to major thoroughfares, supporting connectivity for both patients and staff.
This adaptable office configuration is well-suited for medical, dental, or other professional office users seeking a space that can be customized with reduced upfront buildout requirements, given the existing medical-oriented improvements.
Key Highlights
- 3,204 SF medical office condominium with an existing medical layout and infrastructure in place
- Existing plumbing and infrastructure help reduce upfront buildout costs
- Functional floor plan includes multiple exam/procedure rooms plus a reception area
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 | $84.6k | $26.40 |
| − Vacancy | −$17.3k | −$5.41 |
| EGI | $67.2k | $20.99 |
| − OpEx | −$16.8k | −$5.25 |
| NOI | $50.4k | $15.74 |
3,204 SF · lease $26.40/SF/yr · vacancy 20.50% · expense 25.00%
Alternative Uses
Best Use
Office B
$720.5K
$630.4K – $840.6K
NOI $50,434 @ 7.0% cap · market cap 7.87%
Second Best
Healthcare Medical
$603.1K
$527.7K – $703.6K
NOI $42,216 @ 7.0% cap · market cap 6.59%
Theoretical Best
Office A
$1.00M
$877.4K – $1.17M
NOI $70,191 @ 7.0% cap · market cap 10.95%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Forefront Dermatology
Physician
Bebe Edmonds, MD
Physician
Dr. Beatrix K. ...
Physician
Dr. Kenneth J. ...
Physician
Padman Achutha Menon
Physician
Similar For Sale Nearby
Similar Off Market Nearby
- Providence Veterinary Clinic — 1035 Kempsville Rd, Virginia Beach, VA 23464
FAQs
What type of property is this?
Medical Office Space - Medical office condominium with an existing layout, plumbing, and infrastructure, including multiple exam/procedure rooms.
Where is this medical office space located?
The property is located at 5249 Providence Road Virginia Beach, VA.
What is the asking price?
The asking price for this property is $640,800.
What are key features of this property?
This property features: 3,204 SF medical office condominium with an existing medical layout and infrastructure in place; Existing plumbing and infrastructure help reduce upfront buildout costs; Functional floor plan includes multiple exam/procedure rooms plus a reception area
