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5121 E Virginia Beach Blvd 1,500 SF Office Condo Unit Offered at $200,000 in Norfolk, VA 23502
Investment Highlights
- Beautifully laid out and renovated small business office
- Airport and downtown are less than 15 minutes drive.
- Plenty of parking!
- Current tenant on 3 Year Lease until 9/2028; Lease rate is 1900 per month with 3% annual escalations.
Executive Summary
To schedule property visit call 757-524-4941
Property Facts
| Total Building Size | 15,057 SF | Typical Floor Size | 15,057 SF |
| Property Type | Flex (Condo) | Year Built | 1986 |
| Property Subtype | Light Distribution | Tenancy | Single |
| Building Class | A | Lot Size | 1.04 AC |
| Floors | 1 | Parking Ratio | 1.93/1,000 SF |
| Zoning | C-2 - Central Commercial | ||
| Total Building Size | 15,057 SF |
| Property Type | Flex (Condo) |
| Property Subtype | Light Distribution |
| Building Class | A |
| Floors | 1 |
| Typical Floor Size | 15,057 SF |
| Year Built | 1986 |
| Tenancy | Single |
| Lot Size | 1.04 AC |
| Parking Ratio | 1.93/1,000 SF |
| Zoning | C-2 - Central Commercial |
Amenities
- 24 Hour Access
- Security System
- Signage
- Reception
- Storage Space
- Monument Signage
- Air Conditioning
Utilities
- Lighting - Incandescent
- Water - City
- Sewer - City
- Heating - Electric
1 Unit Available
Unit A1
| Unit Size | 1,500 SF | Sale Type | Investment |
| Price | $200,000 | Cap Rate | 11.40% |
| Price Per SF | $133.33 | NOI | $22,800 |
| Condo Use | Office | APN/Parcel ID | 05195722 |
| Unit Size | 1,500 SF |
| Price | $200,000 |
| Price Per SF | $133.33 |
| Condo Use | Office |
| Sale Type | Investment |
| Cap Rate | 11.40% |
| NOI | $22,800 |
| APN/Parcel ID | 05195722 |
Description
Beautifully laid out and renovated small business office that is currently being occupied by a Hair Salon. Plenty of parking! Airport and downtown are less than 15 minutes drive.
Sale Notes
Tenant pays the utilities, janitorial, communications and technology cost.
Taxes, Insurance, & Association Dues are approximately $4600 Annually paid by owner.
Call 757-524-4941 to schedule property visit.
1 1
Major Tenant Information
| TENANT | SF Occupied | LEASE END DATE |
|---|---|---|
| Solstace Salons |
1,500 SF
|
September 2028
|
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5121 E Virginia Beach Blvd
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