1293 Perimeter Pkwy Virginia Beach, VA 23454
- Industrial properties
- 31,354 SF
- 5.42 lot acres
Current Use by Public Records
- Lockheed Martin / Aerospace Company
Property Details for 1293 Perimeter Pkwy
- Year built
- 2002
- Construction
- FRAME
- Lot size
- 5.42 lot acres
- Property size
- 31,354 SF
- Zone code
- I1
- Property type
- Industrial properties
- APN
- 24150410200000
- APU
- 24150410200000
Description
This exceptional Class A, 30,600 square foot flex property, located at 1293 Perimeter Parkway in Virginia Beach, VA 23454, presents a compelling investment opportunity. Boasting a 6.75% cap rate and a strong NOI of $439,734, this single-tenant building offers a stable income stream with a corporate guarantee. The property, built in 2002, sits on a 5.42-acre lot and features an 18-foot ceiling height and one loading dock. Currently 100% occupied under a Net Net lease with a remaining lease term of approximately 3.9 years (expiring 07/31/2027, commencement 08/01/2002), this investment is priced at $6,070,000 ($198 per square foot). The property is zoned L1 and enjoys a prime location within the Corporate Landing Business Park, offering convenient access to I-264 via four-lane divided roads. Its proximity to Naval Air Station Oceana, Dam Neck Fleet Training Center, and Camp Pendleton State Military Reservation, coupled with its proximity to restaurants, banks, and Lynnhaven Mall, ensures strong tenant demand and long-term value. The sale will be free and clear of any existing debt. This property is an ideal addition to any institutional investment portfolio seeking a stable, high-return asset in a desirable location.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Virginia Beach
- County
- Virginia Beach City
- State
- Virginia
- Longitude
- -76.017
- Latitude
- 36.7829
- CBSA code
- 47260
- CBSA name
- VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC METROPOLITAN STATISTICAL AREA
