Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    5029 Corporate Wood Dr. Virginia Bch Virginia Beach, VA 23462
    Back to Search
    Property profile & analytics

    5029 Corporate Wood Dr. Virginia Bch, Virginia Beach, VA 23462

    View on Map
    • Office Spaces
    • 26,022 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Office Spaces

    Property Details for 5029 Corporate Wood Dr. Virginia Bch

    Property type
    Office Spaces

    Description

    Corporate Woods, located at 5029 & 5041 Corporate Woods Dr. in Virginia Beach, VA 23462, offers a premier office opportunity. This exceptional property boasts a total of 26,022 square feet of meticulously maintained office space, currently featuring 25,102 square feet available for lease. The building is ideally suited for businesses seeking flexible space options, with a minimum divisible unit of 1,321 square feet and a maximum contiguous space of 10,414 square feet. Seven individual spaces are currently available, providing a range of sizes to accommodate various business needs and growth strategies. The property's convenient location in Virginia Beach offers easy access to major transportation routes, ensuring seamless commutes for employees and clients. This is an excellent chance to secure high-quality office space in a thriving business community. The property is classified as both Executive Office and Commercial, catering to a diverse range of potential tenants. The building's design and amenities are tailored to provide a productive and comfortable work environment. Inquire today to learn more about leasing options and secure your ideal space within this sought-after Virginia Beach location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Virginia Beach
    County
    Virginia Beach City
    State
    Virginia
    Longitude
    -76.1544
    Latitude
    36.8338

    Comparable in this City

    • Value Estimation by Request
      62,000 SF

      5149-5151 Bonney Rd

      Distribution properties
      5149-5151 Bonney Rd, Virginia Beach, VA 23462
      View Details
    • Value Estimation by Request
      1,836 SF

      156 Newtown Rd Ste A-1

      CONDOMINIUM OFFICES
      156 Newtown Rd Ste A-1, Virginia Beach, VA 23462-2410
      View Details
    • Value Estimation by Request
      1,092 SF

      804 Newtown Rd, Unit D

      CONDOMINIUM OFFICES
      804 Newtown Rd, Virginia Beach, VA 23462-1395
      View Details
    • Value Estimation by Request
      1,800 SF

      5267 Greenwich Rd Ste, Unit 101

      CONDOMINIUM OFFICES
      5267 Greenwich Rd Ste, Virginia Beach, VA 23462-6028
      View Details
    • Value Estimation
      $600,000
      5,224 SF

      329 Ofc Sq Ln

      CONDOMINIUM OFFICES
      329 Ofc Sq Ln, Virginia Beach, VA 23462-3653
      View Details
    • Value Estimation by Request
      1,966 SF

      5741 Cleveland St Ste, Unit 100

      CONDOMINIUM OFFICES
      5741 Cleveland St Ste, Virginia Beach, VA 23462-1782
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      61,528 SF

      Class A Office Building

      61,528 SF Class A office building for sale.
      555 S Independence Blvd, Virginia Beach, VA 23462
      View Details
    • $2,450,000
      17,115 SF

      Virginia Beach Office/Medical Building

      Two-story office and medical building in the heart of Kempsville.
      5511 Princess Anne Rd, Virginia Beach, VA 23462
      View Details
    • Contact for pricing
      11,780 SF

      Virginia Beach Office Building

      Office building with 11,780 square feet of space.
      380 Cleveland Pl, Virginia Beach, VA 23462
      View Details
    • Contact for pricing
      1,988 SF

      Turnkey Commercial Space For Sale

      Turnkey commercial space ideal for retail or office use.
      5759 Princess Anne Rd, Virginia Beach, VA 23462
      View Details
    • Contact for pricing
      1,800 SF

      Virginia Beach Office Condo

      1,800 SF office condo in a central Virginia Beach location.
      5269 Greenwich Rd, Virginia Beach, VA 23462
      View Details
    • Contact for pricing
      2,013 SF

      Turn-Key Office Condo For Sale

      Move-in ready office condo in central Virginia Beach location.
      4646 Princess Anne Rd, Virginia Beach, VA 23462
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Office Space Available For Lease

      Office space for lease at 236 Clearfield Ave, Virginia Beach.
      236 Clearfield Ave, Virginia Beach, VA 23462
      View Details
    • $22 SF/Yr

      Class A Office Space

      Office space with access to major roads and amenities.
      192 Ballard Ct, Virginia Beach, VA 23462
      View Details
    • Contact for pricing

      Office Space with Growth Potential

      Office spaces designed for private use and future expansion.
      5250 Challedon Dr, Virginia Beach, VA 23462
      View Details
    • Contact for pricing

      Freestanding Building in Virginia Beach

      Freestanding building in the heart of Virginia Beach Town Center.
      304 Kellam Rd, Virginia Beach, VA 23462
      View Details
    • Contact for pricing
      11,995 SF

      Class A Office Space Available

      Class A office building with covered parking and signage.
      283 Constitution Dr, Virginia Beach, VA 23462
      View Details
    • Contact for pricing
      75,600 SF

      Class A Office Building

      75,000 SF Class A office building for lease.
      5401 Cleveland St, Virginia Beach, VA 23462
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    5029 Corporate Wood Dr. Virginia Bch
    Virginia Beach, VA 23462
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    5029 Corporate Wood Dr. Virginia Bch, Virginia Beach, VA, 23462
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!