700 Independence CirVirginia Beach, VA 23455

Property Details for 700 Independence Cir

Year built

1984

Construction

FRAME

Lot size

0.78 AC

Property size (Sq ft)

18,996 SF

Zone code

B2

Property type

Healthcare properties

Property subtype

Medical offices

APN

14785165460000

APU

14785165460000

Description

This exceptional three-story medical office building, totaling 17,353 square feet, is situated in the desirable Virginia Beach location at 700 Independence Cir, zip code 23455. Built in 1984, the property offers a unique opportunity for medical professionals seeking prime waterfront space. The building consists of a single structure with multiple tenancies, providing flexibility for various practice sizes. Two contiguous suites are currently available, each ranging from a minimum of 1,377 square feet to a maximum of 2,827 square feet. These spaces can be combined to accommodate larger practices requiring more expansive areas. The building's waterfront location offers stunning views and a prestigious address, enhancing the overall appeal and potential for attracting patients. Both available units are ready for occupancy beginning January 1st, 2025. This presents a rare chance to secure established medical office space in a highly sought-after Virginia Beach location. The property's convenient location and modern amenities make it an ideal setting for a thriving medical practice.

• CAP approach

  CAP return

  Valuation

  6%

  $4,011,330

  6.5%

  $3,702,766

  7%

  $3,438,282

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,434,020

  Geo Method

  $3,172,522

• Alternative Use

  Use

  Valuation

  Residential

  $4,591,430

  Hospitality

  $4,205,724

  Educational

  $3,499,114

  Medical

  $3,619,454

  Retail

  $5,443,066

Location Insight

City

Virginia Beach

County

Virginia Beach City

State

Virginia

Latitude

36.8608

Longitude

-76.1321

CBSA code

47260

CBSA name

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

Property Tax & Assessments

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