5511 Princess Anne RdVirginia Beach, VA 23462

  • Office properties
  • 16,980 SF
For Lease
$240/SF/YR View listing

Property Details for 5511 Princess Anne Rd

Year built
1987
Construction
FRAME
Lot size
1.49 AC
Property size (Sq ft)
16,980 SF
Zone code
O2
Property type
Office properties
Property subtype
Office buildings
APN
14672135380000
APU
14672135380000

Description

This two-story, 17,115 square foot Class B office building, located at 5511 Princess Anne Rd, Virginia Beach, VA 23462, offers 2,100 square feet of immediately available space. Built in 1987 and renovated in 2023, the property features one elevator, ample parking in two lots, and excellent visibility on Princess Anne Road, between Hill Prince and Citation. The building is zoned B and sits on 1.5 acres of land. Ideal for executive or medical office use, this multi-tenant building provides convenient access to Interstate 64 and 264, as well as Sentara Leigh Hospital. The minimum divisible space is 2,100 square feet, with a maximum contiguous space of 2,100 square feet currently available. The property boasts prime visibility and exposure to high traffic volume on Princess Anne Road, offering excellent signage opportunities. This is a unique opportunity to establish a presence in a thriving Kempsville business community.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $3,585,617
    6.5%
    $3,309,800
    7%
    $3,073,386
  • Comparable approach

    Method
    Valuation
    Relative Method
    $2,175,703
    Geo Method
    $2,835,830
  • Alternative Use

    Use
    Valuation
    Residential
    $4,104,152
    Hospitality
    $3,759,381
    Educational
    $3,127,761
    Medical
    $3,235,330
    Retail
    $4,865,406
5511 Princess Anne Rd, Virginia Beach, Virginia

Location Insight

City
Virginia Beach
County
Virginia Beach City
State
Virginia
Latitude
36.8344
Longitude
-76.1784
CBSA code
47260
CBSA name
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2024
$17,469
$777,200
$987,300
$1,764,500
-
$777,200
$987,300
$1,764,500

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