www.crexi.com - The Commercial Real Estate Exchange
Subscribe to Intelligence for full access
Analyze more property details including ownership and financial history. Share advanced property insights with your clients and teams.
Subscribe to Intelligence for full access
Analyze more property details including ownership and financial history. Share advanced property insights with your clients and teams.
32044895
32044897

1040 University Boulevard, Portsmouth, VA 23703 For Sale

Harvey Lindsay Commercial Real Estate
PA
VA 0225113309
Harvey Lindsay Commercial Real Estate
Harvey Lindsay Commercial Real Estate
Listed by Harvey Lindsay Commercial Real Estate
$6,500,000
79 days on market
Updated 9 days ago

1040 University Boulevard

Details
Property Type Office
Sub Type Traditional Office, Executive Office (+1)
Square Footage 59,878
Net Rentable (SqFt) 59,878
Cap Rate 8.95%
NOI $581,787
Occupancy 77.86%
Tenancy Multi
Price per SqFt $109
Class A
Year Built 2007
Stories 3
Acreage 3.452
Parking Spaces 232 spaces
Parking per 1,000 SqFt 3.87
Investment Type Value Add

Value-Add Office / Medical Building for Sale. Excellent Tenant Mix. 8.95% Cap Rate on Existing NOI

Marketing description

Mast One Is a Three-Story, Class a Office Building in Portsmouth, Va. the Subject Property Was Built in 2007 and Features Three Floors Totalling Approximately 60,000 Rentable Square Feet. the Property Is 78% Leased with A Mix of Regional Medical Practices and GSA, National and Local Tenants. Tenants Include Bon Secours, Food and Drug Administration, Supreme Court of Virginia, Rein, and Edward Jones. the Subject Property Is Located Within the Hampton Roads Crossing Development, an Upscale, Walkable Neighborhood Setting with Shops and Dining, Homes and Apartments at The Corner of The Western Freeway (route 164) and College Drive. the Building Offers Visibility from Route 164 (51,557 VPD) and Is Centrally Located Within the Suffolk, Chesapeake, Norfolk, Portsmouth and Peninsula Markets. With Over 13,000 Square Feet of Contiguous Space Available, Mast One Also Offers an Excellent Occupancy Opportunity for Businesses Looking for A New Headquarters or Additional Office Space.

Investment highlights

  • Strategically located in growing Harbour View Submarket
  • Integral part of 148-Acre Mixed-Use Development
  • Strong Tenant Mix
  • Quality Construction and new HVAC system in 2025
  • Opportunity for Value-Add Investors & Owner Occupants

[CONTACT BROKER FOR COMPLETE OM WITH RENT ROLL & FINANCIALS]

Listing Contacts

Harvey Lindsay Commercial Real Estate
PA
VA 0225113309
Harvey Lindsay Commercial Real Estate
Harvey Lindsay Commercial Real Estate
Listed by Harvey Lindsay Commercial Real Estate

Valuation Calculator

Login or Sign up to see Valuation Metrics
Sign up for Crexi to see valuation metrics for this property
$
$
%
Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$581,787.00
$48,482.25/mo

Valuation Metrics

0
DSCR
8.95%
Cap Rate
8.95%
ROI

Broker Selected Comps View More Comps

Property History

Intelligence Badge

Tax History

Intelligence Badge

Similar Properties

View All
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
Is there information that looks off?
For assistance, reach out to our support team at [email protected] or call 888.273.0423 . For press inquiries, contact [email protected]
Equal Housing Opportunity
5510 Lincoln Blvd #400, Los Angeles, CA 90094Commercial Real Estate Exchange, Inc.Crexi Technologies, LLCCXTechnology, LLC
© 2026 Commercial Real Estate Exchange, Inc. All Rights Reserved. DRE #02086591