5511 Princess Anne RdVirginia Beach, VA 23462

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 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.

• 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

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

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