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Property profile & analytics
FOR SALE
Medical Office Space

5900 Lake Wright Dr Norfolk, VA 23502

70,681 SF 6.58 ac lot Built 2004
Entity Owned 4-yr Hold Free & Clear
Property ID
US87-3367538
Property summary
AI-generated overview

This exceptional Class A medical office building, known as Silver Oak, presents a compelling investment opportunity at $10,900,000. Boasting 80,730 square feet of space, the building commands a price per square foot of $135.02. Strategically located in Norfolk, Virginia, at 5900 Lake Wright Dr, 23502, Silver Oak enjoys a prime position within the Hampton Roads area. Its campus-style setting offers unparalleled amenities and convenient access to Interstate 64, with access ramps less than a mile away. The building benefits from high visibility from I-64, ensuring excellent exposure. Its location provides easy access to key amenities, including proximity to the Norfolk Premium Outlets and Norfolk International Airport (within two miles), the Virginia Beach Oceanfront (sixteen miles), and Downtown Norfolk (seven miles). All three floors offer exceptional visibility, making this a highly desirable location for medical practices seeking a prestigious and accessible address. The property is situated on the east side of Lake Wright Drive, northeast of USAA Drive, offering convenient access via Lake Wright Drive and Military Highway or USAA Drive and Northampton Boulevard. This presents a rare opportunity to acquire a high-quality, well-located medical office building in a thriving market.

Property profile
Verified
Property type Medical Office Space
Use group MEDICAL BUILDING
Year built 2004
Total area 70,681 SF
Lot 6.58 ac (286,799 SF)
Zoning code O-1
APN 80987625
UPID US87-3367538
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
  • Breast Care Specialists PC Physician
  • Carman Claire M MD Physician Hospital
  • Foster Andrea L Medical Clinic
  • Heather Jones, MD, PhD Physician
  • Depanfilis Cara M Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
$11.91M
CAP Approach CAP
$12.45M
Comparable Approach Comparable
by Request
Blend (final) Blend
$17.36M
Owner & transaction history
5900 Lake Wright Drive LLC · 4 yrs held
5900 Lake Wright Drive LLC
since 2021
Last sale
$19.4M
3 recorded transactions
2021
Price N/A
2021
$5.8M
2007
$19.4M
Zoning & alternative use
O-1 · Norfolk, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Source Adopted Zoning Ordinance
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