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Property profile

1101 First Colonial Rd Virginia Beach, VA 23454

FOR LEASE
Medical Office Space
Property ID
US87-1231669
26,020 SF 1.58 ac lot Built 1989
Last sale Jan 2013
Entity Owned Owner of record is a legal entity (LLC / corporation). 13-yr Hold Held for 13 years. Absentee Owner Owner mailing address differs from the property address. Free & Clear No active or open recorded mortgage detected.
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Property summary

AI-generated overview

This multi-tenant, four-story medical office building includes renovated common areas and an elevator cab sized for hospital use. The building provides ample on-site parking and supports 24/7 access. It is located adjacent to Sentara Virginia Beach General Hospital, with nearby access to retail, restaurants, and major highways. The available office space is 6,505 square feet and is configured as full-service space with janitorial included and no pass-throughs toward operating expenses (OPEX).

Ownership intelligence

Who controls the opportunity?

Owner of record from public deeds, plus portfolio, hold profile and investor signals where the data supports them. Included with a plan.

Owner contacts

Can we reach the decision maker?

Skip-traced phones and e-mails of the owner. Included with a plan.

Debts

What is owed, to whom, and when it comes due

Recorded lenders, amounts and estimated maturities of the owner's loan book — included with a plan.

Property tax · 2024

What does the county charge?
$38k
Tax billed · 2024
Assessed value$3.83M
Assessed land$1.36M
Assessed improvement$2.47M
Effective rate0.99%

Value estimate

· Oct 2026
$3.41M
$3.07M – $3.75M
Submarket $/SF estimate$2.26M
NOI build-up
Gross scheduled income$547k
Vacancy & credit loss−$38k
Operating expenses−$204k
NOI · 1,174,376.92% cap applied$305k

Realmo valuation models over county records.

Recently sold

What actually traded nearby?
$235/SF
Submarket average, outlier-cleaned · 25 recorded sales of this use type
Observed band · Q1–Q3$173 – $326

Cap rate analysis

How does the asset earn?
1,174,376.92%
$305k estimated NOI · market benchmarks for this use type

Price anchors at 6 / 6.5 / 7% — in the full report.

Zoning insight

What can be built here?
O2
The O-2 Office District is intended for larger scale office and institutional structures and uses in areas where public facilities are av...
General categoryCIVIC_INSTITUTIONAL
JurisdictionVIRGINIA BEACH CITY

Location intelligence

Which uses thrive at this corner?
Best fit: Law Firm
Demand heat for this use is drawn on the map · LocInt grid
Demand index
Law Firm15.4
Parking Facility14.2
Building Supply12.8

Location

1101 First Colonial Rd Virginia Beach, VA 23454
County assessor Recorded deeds · 1 transfer Qualifying comp sales · not on file Zoning catalog

Every figure names its source: public record, benchmark, or modeled. Coverage varies by property — thin data is stated as missing, never invented.

Comparables

6 recorded sales · 18 properties nearby
Recent sales nearby
6 recorded sales in this ZIP, last 8 years
Address Sale price Sold Size
1800 Camelot Dr, Virginia Beach, VA 23454-2440 $13,750,000 Sep 2022 47,708 SF
1717 Will O Wisp, Virginia Beach, VA 23454-3102 $20,785,878 Jan 2022 50,022 SF
1817 Republic, Virginia Beach, VA 23454-4543 $2,650,000 Feb 2021 10,036 SF
1849 Old Donation, Virginia Beach, VA 23454-3004 $1,300,000 Aug 2019 10,200 SF
1788 Republic, Virginia Beach, VA 23454-4552 $3,150,000 Feb 2019 18,598 SF
Sale prices and dates as our records hold them, one row per building. A deed can cover more of a building than the size shown, so read the price against the size rather than dividing one by the other.
Comparable nearby
6 properties of the same type nearby
Research This Page with AI

Rey answers here. ChatGPT, Grok and Claude get the same data packet.

Includes: Price & PSF · Cap rate · Location · Zoning

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