1419 Cedar RdChesapeake, VA 23322
- Healthcare properties
- 18,210 SF
Property Details for 1419 Cedar Rd
- Year built
- 2006
- Lot size
- 1.67 AC
- Property size (Sq ft)
- 18,210 SF
- Zone code
- PUD: PLANNED UNIT DEVELOP
- Property type
- Healthcare properties
- Property subtype
- Medical offices
- APN
- 464001000003
- APU
- 464001000003
Description
This exceptional Class A medical office building, totaling 15,638 square feet, presents a compelling investment opportunity in Chesapeake, Virginia. Situated at 1419 Cedar Rd, this two-story building, constructed in 2006, enjoys a highly visible location directly across from Tidewater Community College's Chesapeake campus. The property currently houses Dental Care Alliance and Cedar Road Medical Associates, part of the Bayview Medical Group family, demonstrating strong existing tenancy. Located within a well-established southern Chesapeake submarket boasting 720,000 square feet of office space, the building benefits from a low 5.4% vacancy rate, indicating a stable and desirable market. The asking price for this prime medical office asset is $5,560,000. The property's strategic location and strong tenant occupancy make it an attractive investment for those seeking a stable, high-performing asset in a thriving medical market. The building's 2006 construction ensures modern amenities and efficient layouts, catering to the needs of medical professionals and their patients. Its prominent position across from a major educational institution further enhances its visibility and accessibility. This is a rare opportunity to acquire a well-established, high-quality medical office building in a sought-after location. The zip code is 23322.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $3,378,572
- 6.5%
- $3,118,682
- 7%
- $2,895,919
-
Comparable approach
- Method
- Valuation
- Relative Method
- $2,043,725
- Geo Method
- $3,041,252
-
Alternative Use
- Use
- Valuation
- Residential
- $3,867,166
- Hospitality
- $3,542,303
- Educational
- $2,947,155
- Medical
- $3,048,512
- Retail
- $4,584,463
Location Insight
- City
- Chesapeake
- County
- Chesapeake City
- State
- Virginia
- Latitude
- 36.7227
- Longitude
- -76.2922
- CBSA code
- 47260
- CBSA name
- VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
FAQs
- How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
- Please email our support team at [email protected] and they will add the team member.
- How do I access a private listing?
- Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
- How can I contact the broker?
- We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
- How do I unsubscribe from emails?
- At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].