Virginia Beach Office
For Sale
$1,550,000
760 Independence Boulevard, Virginia Beach, VA 23455
5,937 SF office building in thriving Virginia Beach area.
Property Size5,937 SF
Price / SF$261.07
Days on Market177
Property Features for 760 Independence Boulevard
General Information
Standard status
Active
Size
5,937 SF
Class
C
Property subtype
Office
Building Details
Building Size
5,937 SF
Listing Agency:
The Katsias Company
(757) 285-8989
Listed By:
John Katsias
(757) 285-8989
Source:
Katsias
Added: Mar 5
Changed: Aug 7
Last Checked: Aug 29 at 6:47AM
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 The Katsias Company
Investment Insights
Based on property information with market context.
An office building offering a total area of 5,937 square feet is available in Virginia Beach. The property features a modern and versatile layout, suitable for various office needs, with space for customization and expansion. The location provides high visibility and easy access. Situated in Virginia Beach, the property is located minutes away from Town Center, offering shopping, dining, and entertainment options. The oceanfront is easily accessible, providing work-life balance for potential tenants. Nearby landmarks include the Virginia Aquarium & Marine Science Center. The location offers a blend of urban convenience and coastal charm, making it an appealing investment opportunity for commercial real estate investors.
Key Highlights
- 5,937 SF building in a thriving Virginia Beach location
- Modern and versatile layout suitable for various office needs
- High visibility and easy access for tenants and clients
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$79,014
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.10%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,580,280
$1.6M
Cap Rate 7%
$1,128,771
$1.1M
Cap Rate 9%
$877,933
$877.9K
Market Conditions
NOI Build-Up for 5,937 SF
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.
Gross rent
$124.7K $21.00/SF
− Vacancy
−$19.3K −$3.26/SF
EGI
$105.4K $17.75/SF
− OpEx
−$26.3K −$4.44/SF
NOI
$79.0K $13.31/SF
Area
Virginia Beach, VA
Vacancy
15.50%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,580,280
Cap Rate 7%
$1,128,771
Cap Rate 9%
$877,933
Alternative Uses
Best Use
Office B
$1.13M
$987.7K – $1.32M
NOI $79,014 @ 7.0% cap · market cap 5.10%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.52M
$1.33M – $1.78M
NOI $106,612 @ 7.0% cap · market cap 6.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
831
Businesses Nearby
Explore this area
Business Placement
Demographics for 23455, VA
50,599
Population
22,286
Households
2.3
Avg Household Size
38
Median Age
42%
College-Educated
95%
High-School Grad
15.2 sq mi
ZIP Area
3,329
Density / Sq Mi
$88,223
Median Household Income
$49,119
Median Earnings
$1,610
Median Rent
$397,700
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - 5,937 SF office building in thriving Virginia Beach area.
Where is this office building located?
The property is located at 760 Independence Boulevard Virginia Beach, VA.
What is the asking price?
The asking price for this property is $1,550,000.
What are key features of this property?
This property features: 5,937 SF building in a thriving Virginia Beach location; Modern and versatile layout suitable for various office needs; High visibility and easy access for tenants and clients
