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    1293 Perimeter Pkwy Virginia Beach, VA 23454

    Sponsored
    For Sale
    $6,070,000

    High-demand flex space, strong NOI, excellent location.

    Property size:
    30,600 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional Class A, 30,600 square foot flex property, located at 1293 Perimeter Parkway in Virginia Beach, VA 23454, presents a compelling investment opportunity. Boasting a 6.75% cap rate and a strong NOI of $439,734, this single-tenant building offers a stable income stream with a corporate guarantee. The property, built in 2002, sits on a 5.42-acre lot and features an 18-foot ceiling height and one loading dock. Currently 100% occupied under a Net Net lease with a remaining lease term of approximately 3.9 years (expiring 07/31/2027, commencement 08/01/2002), this investment is priced at $6,070,000 ($198 per square foot). The property is zoned L1 and enjoys a prime location within the Corporate Landing Business Park, offering convenient access to I-264 via four-lane divided roads. Its proximity to Naval Air Station Oceana, Dam Neck Fleet Training Center, and Camp Pendleton State Military Reservation, coupled with its proximity to restaurants, banks, and Lynnhaven Mall, ensures strong tenant demand and long-term value. The sale will be free and clear of any existing debt. This property is an ideal addition to any institutional investment portfolio seeking a stable, high-return asset in a desirable location.

    Property Features for 1293 Perimeter Pkwy

    General Information

    Property type
    Flex space
    Square Feet
    30,600 SF
    Class
    A
    Lot Size
    236,095 SF

    Building Details

    Year Built
    2002
    Units
    1

    HighLights

    • Prime location near Naval Air Station Oceana, Dam Neck Fleet Training Center, and Camp Pendleton.
    • Class A office and research park with architectural controls and attractive amenities including lakes and jogging trails.
    • Convenient access to restaurants, banks, and Lynnhaven Mall.
    • Debt‑free sale.
    Property Profile Location Intelligence

    Current Use by Public Records

    Lockheed Martin Aerospace Company

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Virginia Beach
    County
    Virginia Beach City
    State
    Virginia
    Longitude
    -76.0168034
    Latitude
    36.7828367

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    FAQs

    What type of property is this?
    Flex space - High-demand flex space, strong NOI, excellent location.
    Where is this flex space located?
    The property is located at 1293 Perimeter Pkwy Virginia Beach, VA.
    What is the asking price?
    The asking price for this property is $6,070,000.
    What are key features of this property?
    This property features: Prime location near Naval Air Station Oceana, Dam Neck Fleet Training Center, and Camp Pendleton.; Class A office and research park with architectural controls and attractive amenities including lakes and jogging trails.; Convenient access to restaurants, banks, and Lynnhaven Mall.
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1293 Perimeter Pkwy Virginia Beach, VA 23454
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