Harbour View Medical Office
5849 Harbour View Blvd Suffolk, VA 23435
For Sale
Contact for pricing
Two-story medical office building in a rapidly growing submarket.
Property Size22,395 SF
Price / SF$323.73
Days on Market1214
Property Features for 5849 Harbour View Blvd
General Information
- Standard status
- Active
- Size
- 22,395 SF
- Property subtype
- Office
Building Details
- Year Built
- 2008
Listing Agency:
Divaris Real Estate Inc Corporate
Listed By:
Jason Oliver, CCIM · License #VA
Source:
Crexi
Added: Apr 1, 2023
Changed: Jul 6
Last Checked: Jul 26 at 9:21AM
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 Inc Corporate
Investment Insights
Based on property information with market context.
The property at 5849 Harbour View Blvd is a two-story medical office building containing 22,395 square feet. Developed in 2008, the building is located in the Harbourview/North Suffolk submarket, one of the fastest growing areas in the region. The submarket contains 1.4 million square feet of office space, with a current vacancy rate of 3.9%. The building is home to Konikoff Dentistry (Dental Care Alliance), United Property Association, Chesapeake Regional Medical Associates, and Klar Holmes Orthodontics (Dental Care Alliance). Strategically positioned on Harbour View’s main thoroughfare, the property offers excellent visibility and access.
Key Highlights
- Located in the rapidly growing Harbourview/North Suffolk submarket.
- High visibility and easy access on Harbour View's main thoroughfare.
- Low submarket vacancy rate of 3.9%.
Financial Insights For Healthcare Medical
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 | $564.4k | $25.20 |
| − Vacancy | −$39.5k | −$1.76 |
| EGI | $524.8k | $23.44 |
| − OpEx | −$209.9k | −$9.37 |
| NOI | $314.9k | $14.06 |
22,395 SF · lease $25.20/SF/yr · vacancy 7.00% · expense 40.00%
Alternative Uses
Best Use
Healthcare Medical
$4.50M
$3.94M – $5.25M
NOI $314,910 @ 7.0% cap · market cap 4.34%
Second Best
Office B
$3.50M
$3.07M – $4.09M
NOI $245,212 @ 7.0% cap · market cap 3.38%
Theoretical Best
Office A
$5.19M
$4.54M – $6.05M
NOI $363,250 @ 7.0% cap · market cap 5.01%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Lanigan Jackie DDS
Dental Office
Morris Mason DDS
Dental Office
Dr. Neal A. Klar
Dental Office
Klar Holmes Associates ...
Dental Office
Matiolli Michele M ...
Dental Office
FAQs
What type of property is this?
Medical Office Space - Two-story medical office building in a rapidly growing submarket.
Where is this medical office space located?
The property is located at 5849 Harbour View Blvd Suffolk, VA.
What is the asking price?
The asking price for this property is $7,250,000.
What are key features of this property?
This property features: Located in the rapidly growing Harbourview/North Suffolk submarket.; High visibility and easy access on Harbour View's main thoroughfare.; Low submarket vacancy rate of 3.9%.
