1419 Cedar RdChesapeake, VA 23322

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

Medical offices

Property subtype

Medical centers

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.

• 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

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