5226 Indian Riv Rd Virginia Beach, VA 23464-6179
- Investment properties
- 13,125 SF
- 1.06 lot acres
Current Use by Public Records
- Glass Doctor of Virginia Beach / Window Installation Service / Glass Repair Service
- Priscilla Serrano / General Practitioner / Physician Assistant
- Tamara Allen / Practitioner Service Location / Marriage Or Relationship Counselor
- Dr. Winke / Pain Management Physician
- Mintz Evan E / Nursing Agency
Property Details for 5226 Indian Riv Rd
- Year built
- 1986
- Lot size
- 1.06 lot acres
- Property size
- 13,125 SF
- Zone code
- B2
- Property type
- Investment properties
- Property subtype
- Live-work space
- APN
- 14654728240004
- APU
- 14654728240004
Description
This exceptional investment opportunity presents a 11,928 square foot, Class B office flex building situated on a 1.05-acre lot at 5226 Indian River Road, Virginia Beach, VA 23464. The property, built in 1986 and fully renovated in 2008, features 49 parking spaces and is zoned B-2. Currently boasting 100% occupancy with four tenants, the building offers a stable income stream with a Net Operating Income (NOI) of $162,131 and an 8.21% cap rate. The asking price is $1,975,000, translating to $165.58 per square foot. Leases are modified, multi-tenant, and include rent bumps. The anchor tenant, occupying 5,988 square feet, has been in place since 2008 with a lease expiring in June 2027 and 3% annual rent increases. Other tenants include a glass company, a therapy practice, and a medical supply business, each with leases expiring between 2025 and 2028, also featuring 3% annual rent increases. The building's strategic location near the intersection of Indian River Road and Kempsville Road, with convenient access to I-64, ensures high visibility and accessibility. The property includes five roll-up doors, making it suitable for a variety of businesses. This fully occupied, income-producing asset presents a compelling investment opportunity with significant potential for future growth. The property's strong tenant base and favorable lease terms provide a secure and reliable return on investment.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $1,550,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $1,620,000
- 6.5%
- $1,575,000
- 7%
- $1,575,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $1,495,000
- Geo Method
- $1,725,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $1,555,000
- Retail
- $1,845,000
- Mixed-Use
- $1,820,000
- Hospitality
- $1,640,000
- Educational
- $1,775,000
- Residential Income
- $1,840,000
- Energy
- $1,885,000
- Income-Based Land
- $1,985,000
- Food Service
- $1,660,000
Location Insight
- Map
- Local Demand
- City
- Virginia Beach
- County
- Virginia Beach City
- State
- Virginia
- Longitude
- -76.1728
- Latitude
- 36.797
- CBSA code
- 47260
- CBSA name
- VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC METROPOLITAN STATISTICAL AREA
