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    700 Independence Cir Virginia Beach, VA 23455

    • Medical offices
    • 18,996 SF
    • 0.78 lot acres
    For Lease
    View listing
    $24 SF/Yr
    Value Estimation
    $1,695,000
    Last Sale
    Apr 26, 2022
    $1,800,000
    Location Intelligence
    Property ID
    US87-1017137
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • IMA Medical Building / Medical Clinic
    • Powers Steven B MD / Obstetrician-Gynecologist
    • Dr. Danielle J. Lecky, MD / Pediatrician
    • Adams Marlene J / Doctor / Marriage Or Relationship Counselor
    • Amrish Dasharath Patel / Dentist

    Property Details for 700 Independence Cir

    Year built
    1984
    Construction
    FRAME
    Lot size
    0.78 lot acres
    Property size
    18,996 SF
    Zone code
    B2
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    14785165460000
    APU
    14785165460000

    Description

    This exceptional three-story medical office building, totaling 17,353 square feet, is situated in the desirable Virginia Beach location at 700 Independence Cir, zip code 23455. Built in 1984, the property offers a unique opportunity for medical professionals seeking prime waterfront space. The building consists of a single structure with multiple tenancies, providing flexibility for various practice sizes. Two contiguous suites are currently available, each ranging from a minimum of 1,377 square feet to a maximum of 2,827 square feet. These spaces can be combined to accommodate larger practices requiring more expansive areas. The building's waterfront location offers stunning views and a prestigious address, enhancing the overall appeal and potential for attracting patients. Both available units are ready for occupancy beginning January 1st, 2025. This presents a rare chance to secure established medical office space in a highly sought-after Virginia Beach location. The property's convenient location and modern amenities make it an ideal setting for a thriving medical practice.

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $1,640,000

    • CAP approach

      CAP return
      Estimation
      6%
      $1,860,000
      6.5%
      $1,890,000
      7%
      $2,000,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $1,735,000
      Geo Method
      $1,770,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $2,190,000
      Retail
      $2,110,000
      Mixed-Use
      $1,750,000
      Hospitality
      $2,060,000
      Educational
      $2,215,000
      Residential Income
      $1,945,000
      Energy
      $1,775,000
      Income-Based Land
      $1,810,000
      Food Service
      $2,270,000

    Location Insight

    • Map
    • Local Demand
    City
    Virginia Beach
    County
    Virginia Beach City
    State
    Virginia
    Longitude
    -76.1321
    Latitude
    36.8608
    CBSA code
    47260
    CBSA name
    VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $13,985
    $455,200
    $957,400
    $1,412,600
    -
    $455,200
    $957,400
    $1,412,600

    Comparable in this City

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      1016 Independence Blvd

      MEDICAL BUILDING • 4,950 SF
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    • Value Estimation by Request
      13,215 SF

      813 Independence Blvd Ste A

      MEDICAL BUILDING • 13,215 SF
      813 Independence Blvd Ste A, Virginia Beach, VA 23455-6004
      View Details

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    Similar Nearby for Lease

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    700 Independence Cir
    Virginia Beach, VA 23455
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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
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