5226 Indian River RdVirginia Beach, VA 23464

Property Details for 5226 Indian River Rd

Year built

1986

Lot size

1.06 AC

Property size (Sq ft)

13,125 SF

Zone code

B2

Property type

Investment properties

Property subtype

Live-work space

APN

14654728240004

APU

14654728240004

Description

This exceptional investment opportunity presents a 11,928 square foot, Class B office flex building situated on a 1.05-acre lot at 5226 Indian River Road, Virginia Beach, VA 23464. The property, built in 1986 and fully renovated in 2008, features 49 parking spaces and is zoned B-2. Currently boasting 100% occupancy with four tenants, the building offers a stable income stream with a Net Operating Income (NOI) of $162,131 and an 8.21% cap rate. The asking price is $1,975,000, translating to $165.58 per square foot. Leases are modified, multi-tenant, and include rent bumps. The anchor tenant, occupying 5,988 square feet, has been in place since 2008 with a lease expiring in June 2027 and 3% annual rent increases. Other tenants include a glass company, a therapy practice, and a medical supply business, each with leases expiring between 2025 and 2028, also featuring 3% annual rent increases. The building's strategic location near the intersection of Indian River Road and Kempsville Road, with convenient access to I-64, ensures high visibility and accessibility. The property includes five roll-up doors, making it suitable for a variety of businesses. This fully occupied, income-producing asset presents a compelling investment opportunity with significant potential for future growth. The property's strong tenant base and favorable lease terms provide a secure and reliable return on investment.

• CAP approach

  CAP return

  Valuation

  6%

  $2,435,132

  6.5%

  $2,247,815

  7%

  $2,087,256

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,473,031

  Geo Method

  $2,192,006

• Alternative Use

  Use

  Valuation

  Residential

  $2,787,290

  Hospitality

  $2,553,143

  Educational

  $2,124,185

  Medical

  $2,197,239

  Retail

  $3,304,288

Location Insight

City

Virginia Beach

County

Virginia Beach City

State

Virginia

Latitude

36.797

Longitude

-76.1728

CBSA code

47260

CBSA name

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

Property Tax & Assessments

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