Property profile

1120 First Colonial Rd Virginia Beach, VA 23454

OFF-MARKET
Office Spaces
22,290 SF 2.19 ac lot Built 1970
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Property summary

AI-generated overview

This exceptional two-story medical office building, situated at 1120 First Colonial Road in Virginia Beach, VA, presents a compelling investment opportunity. The 22,290 square foot building, constructed in 1970, features a durable concrete, CMU block, brick, and steel structure. Occupancy currently stands at a strong 92.2%. The property sits on a generous 2.19-acre lot, offering ample space and parking for 129 vehicles. Its strategic location on a major medical corridor, in close proximity to Sentara Virginia Beach General Hospital, ensures excellent visibility and accessibility for both patients and medical professionals. The building is zoned O-2, Office, and its rectangular shape maximizes functionality. The asking price for this Class B property is $4,000,000. The APN is 24085474890000. This well-maintained building offers a significant return on investment in a thriving medical market. The property's size, location, and current occupancy make it an attractive prospect for both investors and healthcare providers seeking a well-established presence in Virginia Beach. The zip code is 23454.

Property profile

Verified
Property type Office Spaces
Year built 1970
Total area 22,290 SF
Lot 2.19 ac (95,396 SF)

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Physician Medical Clinic
  • Physician
  • Physician Medical Clinic
  • Physician Medical Clinic
  • Physician

Location

1120 First Colonial Rd Virginia Beach, VA 23454
Virginia Beach metro
Google Maps

Value estimations

Realmo proprietary · 4 methods
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Owner & transaction history

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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