1040 University Boulevard
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
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