Office Suites with Natural
For Sale
Contact for pricing
840 University City Blvd, Blacksburg, VA 24060
Multiple office suites offer natural light and flexible layouts with traditional and open floor plan options.
Property Size1,625 SF
Price / SF$172.10
Days on Market820
Property Features for 840 University City Blvd
General Information
Standard status
Active
Size
1,625 SF
Property subtype
OFFICE
Additional Details
Highway Access
Yes
Listing Agency:
Cushman & Wakefield | Thalhimer - Roanoke
(540) 767-3000
Listed By:
Kent Roberts · License #0225092206
(540) 309-3310
Source:
Moodyscre
Added: Jun 14, 2024
Changed: Aug 15
Last Checked: Sep 10 at 5:33AM
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 Cushman & Wakefield | Thalhimer - Roanoke
Investment Insights
Based on property information with market context.
This offering includes individual office suites that can be combined to create a larger footprint. Suites feature bright, natural light throughout, with a mix of traditional and open office floor plans to support a range of day-to-day workspace needs.
The property is described as having excellent proximity to Virginia Tech’s main campus and Route 460, supporting convenient access for employees and visitors.
Suites are well-suited for tenants seeking private offices alongside open work areas, with the option to expand by combining adjacent units as requirements change.
The property is described as having excellent proximity to Virginia Tech’s main campus and Route 460, supporting convenient access for employees and visitors.
Suites are well-suited for tenants seeking private offices alongside open work areas, with the option to expand by combining adjacent units as requirements change.
Key Highlights
- Multiple office suites with flexible layout options, including traditional and open office floor plans
- Great natural light throughout the suites
- Individual suites can be combined for larger office footprints
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
$19,860
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
7.10%
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%
$397,200
$397.2K
Cap Rate 7%
$283,714
$283.7K
Cap Rate 9%
$220,667
$220.7K
Market Conditions
NOI Build-Up for 1,625 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
$32.0K $19.68/SF
− Vacancy
−$5.5K −$3.38/SF
EGI
$26.5K $16.30/SF
− OpEx
−$6.6K −$4.07/SF
NOI
$19.9K $12.22/SF
Area
Montgomery County, VA
Vacancy
17.20%
Lease Rate
$19.68 /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%
$397,200
Cap Rate 7%
$283,714
Cap Rate 9%
$220,667
Alternative Uses
Best Use
Office B
$283.7K
$248.3K – $331.0K
NOI $19,860 @ 7.0% cap · market cap 7.10%
Second Best
—
—
no second resolved use
Theoretical Best
Flex RnD
$384.6K
$336.5K – $448.7K
NOI $26,919 @ 7.0% cap · market cap 9.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
759
Businesses Nearby
Explore this area
Business Placement
Demographics for 24060, VA
46,755
Population
22,797
Households
2.1
Avg Household Size
28
Median Age
63%
College-Educated
98%
High-School Grad
130.8 sq mi
ZIP Area
357
Density / Sq Mi
$63,496
Median Household Income
$31,827
Median Earnings
$1,266
Median Rent
$412,300
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 units - Multiple office suites offer natural light and flexible layouts with traditional and open floor plan options.
Where is this office units located?
The property is located at 840 University City Blvd Blacksburg, VA.
What is the asking price?
The asking price for this property is $279,662.
What are key features of this property?
This property features: Multiple office suites with flexible layout options, including traditional and open office floor plans; Great natural light throughout the suites; Individual suites can be combined for larger office footprints
