Freestanding Condo Office
For Sale
Contact for pricing
5265 Providence Rd, Virginia Beach, VA 23464
Freestanding office condo totaling 3,996 SF with a flexible floorplan, ample surface parking, and office zoning.
Property Size3,966 SF
Price / SF$151.29
Days on Market180
Property Features for 5265 Providence Rd
General Information
Standard status
Active
Size
3,966 SF
Property subtype
OFFICE
Listing Agency:
Divaris Real Estate - Hampton Roads
(757) 873-4700
Listed By:
Krista Costa
(757) 333-4356
Source:
Moodyscre
Added: Apr 20
Changed: Oct 8
Last Checked: Oct 16 at 9:37AM
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 Divaris Real Estate - Hampton Roads
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Investment Insights
Based on property information with market context.
This freestanding condo office building offers approximately 3,996 square feet with a flexible floorplan suited to professional services, medical, or general office use. The property is part of a well-managed office park, with attractive landscaping and signage.
The building is supported by ample surface parking and is zoned for office use. Convenient access to major corridors, shopping centers, dining, and nearby residential neighborhoods is noted in the listing.
The available configuration and office zoning make the space workable for a range of office-oriented tenants, while the freestanding setup supports independent day-to-day operations within the office park setting.
The building is supported by ample surface parking and is zoned for office use. Convenient access to major corridors, shopping centers, dining, and nearby residential neighborhoods is noted in the listing.
The available configuration and office zoning make the space workable for a range of office-oriented tenants, while the freestanding setup supports independent day-to-day operations within the office park setting.
Key Highlights
- 3,996 SF freestanding condo office building
- Flexible floorplan suitable for professional services, medical, or general office use
- Zoned for office use
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$52,256
Cap Rate
8.71%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,045,120
$1.0M
Cap Rate 7%
$746,514
$746.5K
Cap Rate 9%
$580,622
$580.6K
Market Conditions
NOI Build-Up for 3,966 SF
Gross rent
$95.2K $24.00/SF
− Vacancy
−$8.1K −$2.04/SF
EGI
$87.1K $21.96/SF
− OpEx
−$34.8K −$8.78/SF
NOI
$52.3K $13.18/SF
Area
ZIP 23464
Vacancy
8.50%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,045,120
Cap Rate 7%
$746,514
Cap Rate 9%
$580,622
Alternative Uses
Best Use
Office B
$891.8K
$780.4K – $1.04M
NOI $62,429 @ 7.0% cap · market cap 10.40%
Second Best
Healthcare Medical
$746.5K
$653.2K – $870.9K
NOI $52,256 @ 7.0% cap · market cap 8.71%
Theoretical Best
Office A
$1.24M
$1.09M – $1.45M
NOI $86,884 @ 7.0% cap · market cap 14.48%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
597
Businesses Nearby
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Business Placement
Demographics for 23464, VA
75,118
Population
29,267
Households
2.6
Avg Household Size
38
Median Age
38%
College-Educated
94%
High-School Grad
16.7 sq mi
ZIP Area
4,498
Density / Sq Mi
$89,790
Median Household Income
$49,794
Median Earnings
$1,644
Median Rent
$339,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office building - Freestanding office condo totaling 3,996 SF with a flexible floorplan, ample surface parking, and office zoning.
Where is this office building located?
The property is located at 5265 Providence Rd Virginia Beach, VA.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: 3,996 SF freestanding condo office building; Flexible floorplan suitable for professional services, medical, or general office use; Zoned for office use
