Listed by Sands Investment Group Charleston, Sands Investment Group Philadelphia, Sands Investment Group - FTL
$4,900,000
Fully Occupied Executive Center – Norfolk, VA
Details
Property Type Office
Sub Type Executive Office, Medical Office
Square Footage 25,000
Cap Rate 7.58%
NOI $371,464
Occupancy 100%
Tenancy Multi
Brand/Tenant Briggs Medical Staffing, First Genesis of Virginia
Lease Type Gross
Rent Bumps Yes
Lease Options Varies
Price per SqFt $196
Class B
Investment Type Net Lease
Ground Lease Yes
Fully Leased Executive Center | 7.58% Cap Rate | Below-Market Rents | Norfolk, VA
Marketing description
Sands Investment Group is pleased to exclusively offer the Fully Occupied Executive Center located at 1711 Church St in Norfolk, VA. This fully leased, multi- tenant center features established tenants, including DaVita Dialysis and a variety of healthcare service providers. The property benefits from a diverse rent roll with staggered lease expirations through 2035 and below-market rents, providing significant upside potential on renewals. This represents a unique and compelling investment opportunity in a strong Norfolk submarket.
Investment highlights
- Property Overview: Fully leased multi-tenant medical and professional office park featuring a strong tenant mix and stable income profile.
- Tenant Mix: Established tenants include DaVita Dialysis and multiple healthcare service providers, ensuring consistent occupancy and long-term stability.
- Lease Structure: Diverse rent roll with staggered lease expirations through 2035, reducing rollover risk and providing predictable cash flow.
- Rental Upside: Below-market rent levels present a significant opportunity for income growth upon renewals or re-tenanting.
- Location Advantage: Strategically located within the Norfolk medical corridor, a thriving submarket experiencing robust healthcare demand and expansion.
- Investment Performance: Attractive yield supported by an NOI of $371,464 and a 7.58% capitalization rate.
- Construction Quality: Built in 2008, the property’s modern design and construction significantly minimize deferred maintenance and capital expenditures.
Listing Contacts
Listed by Sands Investment Group Charleston, Sands Investment Group Philadelphia, Sands Investment Group - FTL
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$371,464.00
$30,955.33/mo
Valuation Metrics
0
DSCR
7.58%
Cap Rate
7.58%
ROI
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