816 Independence BlvdVirginia Beach, VA 23455

Property Details for 816 Independence Blvd

Year built

1977

Construction

TYPE NOT SPECIFIED

Lot size

3.48 AC

Property size (Sq ft)

44,910 SF

Zone code

O2

Property type

Healthcare properties

Property subtype

Medical offices

APN

14785368320000

APU

14785368320000

Description

Bayside Medical Plaza offers exceptional second-generation medical office space for lease in a prime Virginia Beach location. This Class A building, constructed in 1977, boasts a total of 38,016 square feet, with 7,402 square feet currently vacant. Multiple tenancy options are available, ranging from a minimum of 990 square feet to a maximum contiguous space of 3,650 square feet. The property enjoys a highly convenient location on the campus of Sentara Independence, providing easy access to shopping, dining, and the Virginia Beach Town Center. Its central location on Independence Boulevard near Haygood ensures excellent visibility and accessibility. Ample, well-lit on-site parking is provided for tenants and their patients. A significant advantage for prospective tenants is the generous landlord contribution towards tenant improvement costs, making this an attractive opportunity for medical practices seeking a move-in ready space. The full-service lease includes janitorial services, excluding infectious or regulated medical waste. This is a rare opportunity to secure high-quality medical office space in a thriving Virginia Beach location. Contact us today to learn more about available suites and lease terms.

• CAP approach

  CAP return

  Valuation

  6%

  $9,483,513

  6.5%

  $8,754,012

  7%

  $8,128,725

• Comparable approach

  Method

  Valuation

  Relative Method

  $5,754,466

  Geo Method

  $7,500,419

• Alternative Use

  Use

  Valuation

  Residential

  $10,854,974

  Hospitality

  $9,943,098

  Educational

  $8,272,541

  Medical

  $8,557,046

  Retail

  $12,868,397

Location Insight

City

Virginia Beach

County

Virginia Beach City

State

Virginia

Latitude

36.8667

Longitude

-76.1318

CBSA code

47260

CBSA name

VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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