For Sale
$5,420,000

229 Hillcrest Pkwy Chesapeake, VA 23322

Class A Medical Office Building, Chesapeake, VA

Overview

Added:
Dec 11, 2024
Days on market:
134
This exceptional Class A medical office building, located at 229 Hillcrest Parkway in Chesapeake, Virginia, presents a compelling investment opportunity. The 12,298 square foot, two-story building was constructed in 2021 and is situated within the thriving Edinburgh mixed-use development. Benefitting from a highly visible corner location at the intersection of Hillcrest Parkway and Edinburgh Parkway, the property enjoys excellent exposure to high traffic volume. The building boasts a strong tenant roster, including Konikoff Dentistry, Klar Holmes Orthodontics (both part of the Dental Care Alliance), and Ivy Rehab, ensuring a stable and predictable income stream. The Southern Chesapeake submarket, where the property is located, demonstrates impressive strength with only 5.4% vacancy across its 720,000 square feet of office space. This fully stabilized asset is ideally positioned within a growing, upscale area, proximate to major retailers such as Target and Walmart, further enhancing its appeal and accessibility. The asking price is $5,420,000. Additional investment opportunities within this portfolio are also available.

Highlights

  • New, fully stabilized Class A medical office building.
  • Strong national tenant roster including Konikoff Dentistry, Klar Holmes Orthodontics, and Ivy Rehab.
  • Excellent visibility in a prime, upscale, high-growth submarket.
  • Additional portfolio assets available.

Property Details for 229 Hillcrest Pkwy

Property type
Office properties, Medical offices
Square Feet
12,298 SF
Class
A
Year Built
2021
Stories
2

Location Insight

City
Chesapeake
County
Chesapeake
State
Virginia
Latitude
36.656124
Longitude
-76.233864

FAQs

What type of property is this?
Office property - Class A Medical Office Building, Chesapeake, VA
Where is the office property located?
The property is located at 229 Hillcrest Pkwy Chesapeake, VA.
What is the asking price?
The asking price for this property is $5,420,000.
What are key features of this property?
This property features: New, fully stabilized Class A medical office building.; Strong national tenant roster including Konikoff Dentistry, Klar Holmes Orthodontics, and Ivy Rehab.; Excellent visibility in a prime, upscale, high-growth submarket.
How can I contact the broker?
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229 Hillcrest Pkwy
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