Office/Warehouse Asset in
628 Dunedin Rd Portsmouth, VA 23701
628 Dunedin Rd, Portsmouth, VA, 23701
$555,000
For Sale
$555,000
Well-located office/warehouse with flexible zoning and modern construction.
Property Size3,440 SF
Price / SF$161.34
Days on Market108
Property Features for 628 Dunedin Rd
General Information
- Standard status
- Active
- Size
- 3,440 SF
- Property subtype
- Industrial
Building Details
- Year Built
- 2004
Listing Agency
S.L. Nusbaum Realty Co - Corporate
(757) 237-7500
Listed by
Chris Zarpas
(757) 237-7500
Source
Slnusbaum
Added: Apr 1 Checked: Jul 17 at 3:51 am
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.
The property at 628 Dunedin Road is a 3,440 square foot office/warehouse building constructed in 2004. It features a single-tenant configuration and is zoned NMU (Neighborhood Mixed Use), offering flexible use potential. The warehouse has a 12-foot clear height and bays that are 39 feet deep. It also includes two 12-foot by 10-foot roll-up doors. The property is located in Portsmouth and is well-maintained with a functional layout, presenting an opportunity for users and long-term investment.
Key Highlights
- Flexible NMU (Neighborhood Mixed Use) zoning allows for diverse business operations.
- Strategic Portsmouth location offers excellent accessibility.
- Modern 2004 construction ensures a well‑maintained and functional building.
Local Financial Insights For Warehouse
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 | $30.7k | $8.91 |
| − Vacancy | −$797 | −$0.23 |
| EGI | $29.9k | $8.68 |
| − OpEx | −$4.5k | −$1.30 |
| NOI | $25.4k | $7.38 |
3,440 SF · lease $8.91/SF/yr · vacancy 2.60% · expense 15.00%
Alternative Uses
Best Use
Warehouse
$362.5K
$317.2K – $422.9K
NOI $25,375 @ 7.0% cap · market cap 4.57%
Second Best
Industrial
$298.5K
$261.2K – $348.3K
NOI $20,897 @ 7.0% cap · market cap 3.77%
Theoretical Best
Office A
$1.10M
$958.3K – $1.28M
NOI $76,662 @ 7.0% cap · market cap 13.81%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
McBride Lumber
Big Box & Wholesale Store
Similar For Sale Nearby
FAQs
What type of property is this?
Flex space - Well-located office/warehouse with flexible zoning and modern construction.
Where is this flex space located?
The property is located at 628 Dunedin Rd Portsmouth, VA.
What is the asking price?
The asking price for this property is $555,000.
What are key features of this property?
This property features: Flexible NMU (Neighborhood Mixed Use) zoning allows for diverse business operations.; Strategic Portsmouth location offers excellent accessibility.; Modern 2004 construction ensures a well‑maintained and functional building.
