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Property profile & analytics
OFF-MARKET
Office Spaces

1120 First Colonial Rd Virginia Beach, VA 23454

22,290 SF 2.19 ac lot Built 1970
Property ID
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
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
  • Rebecca Houvener Physician Medical Clinic
  • Madeleine Mccarty Physician
  • Dr. Roshan Morbia Physician Medical Clinic
  • Virginia Plastic Surgery Physician Medical Clinic
  • Coastal Surgical Specialists: Heath Kirk W MD Physician
Value estimations
Realmo proprietary · 4 methods
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Owner & transaction history
Owner on record
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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