2829 Shore Dr
12,571 SF 100% Leased Office Building Virginia Beach, VA 23451 $5,670,000 ($451.04/SF) 6.50% Cap Rate
INVESTMENT HIGHLIGHTS
- Please see link to access the OM. https://www.divaris.com/properties/?propertyId=1183859-sale
EXECUTIVE SUMMARY
2829 Shore Drive is a two-story medical office building located in the Hilltop/Great Neck submarket of Virginia Beach, one of the most upscale pockets in Hampton Roads. The submarket contains 1.2 million square feet, with a vacancy rate of just 5.0%. The property’s prime location at the corner of Shore Drive and Great Neck Road – just a block from the Chesapeake Bay – makes it one of the most recognizable buildings in the area.
Developed in 2005, the property measures 12,571 square feet and is home to Konikoff Dentistry (Dental Care Alliance) and Sailon Plastic Surgery.
Developed in 2005, the property measures 12,571 square feet and is home to Konikoff Dentistry (Dental Care Alliance) and Sailon Plastic Surgery.
PROPERTY FACTS
Sale Type
Investment
Property Type
Office
Property Subtype
Medical
Building Size
12,571 SF
Building Class
C
Year Built
2000
Price
$5,670,000
Price Per SF
$451.04
Cap Rate
6.50%
NOI
$368,694
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
6,286 SF
Building FAR
0.29
Lot Size
0.99 AC
Zoning
B2
AMENITIES
- Monument Signage
1 of 1
Walk Score®
Very Walkable (73)
Bike Score®
Very Bikeable (76)
PROPERTY TAXES
| Parcel Number | 1590-30-6514 | Improvements Assessment | $2,028,200 |
| Land Assessment | $995,100 | Total Assessment | $3,023,300 |
