Two-Story Medical Office
1533 Volvo Pkwy Chesapeake, VA 23320
1533 Volvo Pkwy, Chesapeake, VA, 23320
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For Sale
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Two-story medical office building in the Greenbrier submarket.
Property Size12,732 SF
Price / SF$373.08
Days on Market1207
Property Features for 1533 Volvo Pkwy
General Information
- Standard status
- Active
- Size
- 12,732 SF
- Property subtype
- Office
Building Details
- Year Built
- 2011
Listing Agency
Divaris Real Estate Inc Corporate
Listed by
Jason Oliver, CCIM · License #VA
Source
Crexi
Added: Apr 1, 2023 Updated: Jul 6 at 8:02 am Checked: Jul 19 at 8:22 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 Divaris Real Estate Inc Corporate
Investment Insights
Based on property information with market context.
The property at 1533 Volvo Pkwy is a two-story medical office building constructed in 2011. It is situated in the Greenbrier submarket, an established and desirable area with approximately 3.9 million square feet of office space and an 8.9% vacancy rate. The building measures 12,732 square feet and offers frontage on Volvo Parkway, providing visibility and access. The building is currently occupied by Konikoff Dentistry and Klar Holmes Orthodontics, both part of the Dental Care Alliance family.
Key Highlights
- Located in the established and desirable Greenbrier submarket.
- Prime frontage on highly trafficked Volvo Parkway offers great visibility and access.
- Built in 2011.
Local Financial Insights For Office B
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 | $305.6k | $24.00 |
| − Vacancy | −$45.8k | −$3.60 |
| EGI | $259.7k | $20.40 |
| − OpEx | −$64.9k | −$5.10 |
| NOI | $194.8k | $15.30 |
12,732 SF · lease $24.00/SF/yr · vacancy 15.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$2.78M
$2.44M – $3.25M
NOI $194,800 @ 7.0% cap · market cap 4.10%
Second Best
Healthcare Medical
$2.59M
$2.27M – $3.03M
NOI $181,507 @ 7.0% cap · market cap 3.82%
Theoretical Best
Office A
$3.76M
$3.29M – $4.39M
NOI $263,400 @ 7.0% cap · market cap 5.55%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Throckmorton Maria V ...
Dental Office
Dr. Jason Campbell
Dental Office
Jesse Washington Lee
Dental Office
Dr. Nicole Reddout
Dental Office
Dr. Jesse Lee
Dental Office
Similar For Sale Nearby
Similar Off Market Nearby
- Cooke Veterinary Medical Center — 1520 Volvo Pkwy, Chesapeake, VA 23320
- Highlands Veterinary Center — 1615 Volvo Pkwy, Chesapeake, VA 23320
FAQs
What type of property is this?
Medical Office Space - Two-story medical office building in the Greenbrier submarket.
Where is this medical office space located?
The property is located at 1533 Volvo Pkwy Chesapeake, VA.
What is the asking price?
The asking price for this property is $4,750,000.
What are key features of this property?
This property features: Located in the established and desirable Greenbrier submarket.; Prime frontage on highly trafficked Volvo Parkway offers great visibility and access.; Built in 2011.
