End Unit Office Warehouse
For Sale
Contact for pricing
Pending
800 Seahawk Cir, Virginia Beach, VA 23452
End unit flex layout with separate HVAC for each office floor and a rear grade level roll-up door with drive-aisle access.
Property Size1,925 SF
Days on Market79
Property Features for 800 Seahawk Cir
General Information
Standard status
Pending
Size
1,925 SF
Class
B
Property subtype
Office, Industrial
Zoning
I-1
Warehouse & Industrial
Drive-In Doors
1
Heavy Power
Yes
Building Details
Year Built
1987
Year Renovated
2020
Buildings
1
Stories
2
Units
1
Listing Agency:
The Katsias Company
(757) 448-8120
Listed By:
Brian C. Baker · License #0225101286
Source:
Crexi
Added: Jun 3
Changed: Aug 18
Last Checked: Aug 19 at 1:47AM
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.
This well maintained two-story end unit office warehouse condo offers a combined office and light warehouse setup designed for mixed work needs. The office portion includes three large offices, one large office/reception area, a conference room, and two restrooms with one restroom on each floor. Separate HVAC systems serve each office floor for more consistent, controllable comfort. The warehouse includes a rear grade level roll-up door, while the building also features front and rear exterior entrance doors. Additional mezzanine space of approximately 500 SF is available above the 544 SF warehouse, and it is not included in the stated total square footage. Three-phase electric is also in place.
The property is centrally located in the Virginia Beach Lynnhaven submarket. It provides drive aisle access to the rear roll-up door, supporting straightforward loading and unloading directly from the warehouse area.
For tenants or buyers seeking a compact headquarters-and-warehouse configuration, this condo-style asset can support office operations above while maintaining practical warehouse access for receiving, storage, or light distribution. The end unit positioning and rear roll-up door access are well suited for businesses that need both client-facing office space and convenient back-of-house movement.
The property is centrally located in the Virginia Beach Lynnhaven submarket. It provides drive aisle access to the rear roll-up door, supporting straightforward loading and unloading directly from the warehouse area.
For tenants or buyers seeking a compact headquarters-and-warehouse configuration, this condo-style asset can support office operations above while maintaining practical warehouse access for receiving, storage, or light distribution. The end unit positioning and rear roll-up door access are well suited for businesses that need both client-facing office space and convenient back-of-house movement.
Key Highlights
- Two‑story end unit office warehouse condo built in 1987 in the Virginia Beach Lynnhaven submarket
- Separate HVAC systems for each office floor
- Rear grade level roll‑up door with drive‑aisle access, plus front and rear entry doors
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
$15,316
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
5.38%
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%
$306,320
$306.3K
Cap Rate 7%
$218,800
$218.8K
Cap Rate 9%
$170,178
$170.2K
Market Conditions
NOI Build-Up for 1,925 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
$18.7K $9.72/SF
− Vacancy
−$692 −$0.36/SF
EGI
$18.0K $9.36/SF
− OpEx
−$2.7K −$1.40/SF
NOI
$15.3K $7.96/SF
Area
ZIP 23452
Vacancy
3.70%
Lease Rate
$9.72 /SF/Yr
Expense Ratio
15.00%
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%
$306,320
Cap Rate 7%
$218,800
Cap Rate 9%
$170,178
Alternative Uses
Best Use
Office B
$389.7K
$341.0K – $454.6K
NOI $27,276 @ 7.0% cap · market cap 9.57%
Second Best
Warehouse
$218.8K
$191.5K – $255.3K
NOI $15,316 @ 7.0% cap · market cap 5.38%
Theoretical Best
Office A
$499.0K
$436.6K – $582.1K
NOI $34,927 @ 7.0% cap · market cap 12.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Drive-in doors
Yes
Heavy power
Location Intelligence
Trade Area within ½ mile
1,250
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 23452, VA
59,076
Population
23,455
Households
2.5
Avg Household Size
37
Median Age
35%
College-Educated
95%
High-School Grad
15.1 sq mi
ZIP Area
3,912
Density / Sq Mi
$77,327
Median Household Income
$44,009
Median Earnings
$1,571
Median Rent
$324,000
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?
Flex space - End unit flex layout with separate HVAC for each office floor and a rear grade level roll-up door with drive-aisle access.
Where is this flex space located?
The property is located at 800 Seahawk Cir Virginia Beach, VA.
What is the asking price?
The asking price for this property is $284,900.
What are key features of this property?
This property features: Two‑story end unit office warehouse condo built in 1987 in the Virginia Beach Lynnhaven submarket; Separate HVAC systems for each office floor; Rear grade level roll‑up door with drive‑aisle access, plus front and rear entry doors
