Financial
Distress signals
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?

Resolved identity, portfolio, hold profile and investor signals. Included in the full report.

Owner contacts

Can we reach the decision maker?

Skip-traced phones and e-mails of the owner. Included with the full report.

Mortgages

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

Recorded lenders, amounts and estimated maturities of the owner's loan book — in the full report.

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

· Sep 2026
$3.41M
$3.07M – $3.75M
Sales comparison$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: Restaurant
Demand heat for this use is drawn on the map · LocInt grid
Demand index
Restaurant13.6
Hair Salon11.7
Realty agency10.5

Location

1101 First Colonial Rd Virginia Beach, VA 23454
County assessor Recorded deeds · 1 transfer 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 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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Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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