813 Independence BlvdVirginia Beach, VA 23455

Property Details for 813 Independence Blvd

Year built

1981

Construction

FRAME

Lot size

0.98 AC

Property size (Sq ft)

13,215 SF

Zone code

A12

Property type

Healthcare properties

Property subtype

Medical offices

APN

14785326830000

APU

14785326830000

Description

This exceptional two-story, 13,061 square foot Class B office building, constructed in 1981, presents a unique investment opportunity in Virginia Beach, VA. Located at 813 Independence Boulevard, this property enjoys a prime location at the corner of Independence Boulevard and North Witchduck Road, offering convenient access to I-264 and the Virginia Beach Town Center. Currently configured as a medical office and creative office space, the building features ample parking to accommodate tenants and visitors. The property consists of a single suite, with 3,480 square feet currently vacant, providing immediate potential for lease income. The building's total area is approximately 13,061 square feet, spread across two stories. Situated in Norfolk County, zip code 23455, this property offers a versatile space suitable for a variety of uses, benefiting from its high visibility and convenient location. The building's flexible layout allows for customization to meet the specific needs of a new tenant. This is an excellent opportunity to acquire a well-located commercial property in a thriving area of Virginia Beach. The ample parking ensures convenient access for both employees and clients. The vacant space presents a significant opportunity for immediate income generation.

• CAP approach

  CAP return

  Valuation

  6%

  $2,790,573

  6.5%

  $2,575,913

  7%

  $2,391,920

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,693,281

  Geo Method

  $2,207,037

• Alternative Use

  Use

  Valuation

  Residential

  $3,194,132

  Hospitality

  $2,925,808

  Educational

  $2,434,238

  Medical

  $2,517,955

  Retail

  $3,786,592

Location Insight

City

Virginia Beach

County

Virginia Beach City

State

Virginia

Latitude

36.8665

Longitude

-76.1331

CBSA code

47260

CBSA name

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

Property Tax & Assessments

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