5600 Virginia Beach BlvdVirginia Beach, VA 23462

Property Details for 5600 Virginia Beach Blvd

Year built

1985

Construction

FRAME

Lot size

4.00 AC

Property size (Sq ft)

9,638 SF

Zone code

B2

Property type

Office buildings

APN

14672899860000

APU

14672899860000

Description

Executive Cove Center offers exceptional office space in Virginia Beach, VA. This mixed-use property boasts a prime location on Virginia Beach Boulevard, a high-traffic thoroughfare with approximately 40,000 vehicles per day. The center comprises three two-story buildings totaling 17,310 square feet, with five suites available, ranging from 1,500 to 3,250 contiguous square feet; 8,575 square feet are currently vacant. The property features excellent visibility and accessibility, benefiting from an end-cap location with signage opportunities and abundant parking. A monument sign is also available. Its strategic location provides easy access to major roadways, including I-264 and I-64, placing it within a five-mile radius of Norfolk International Airport, Virginia Beach Town Center, and Military Circle Mall. The area offers a high daytime population of 81,986 within a three-mile radius, encompassing significant employers such as Sentara Leigh Oncology Center, various car dealerships, furniture stores, and the Town Center of Virginia Beach. Public transportation is readily available via a nearby bus line. This is an ideal opportunity for businesses seeking a prominent and convenient location in a thriving commercial area. The property's mixed-use nature, combining retail frontage on Virginia Beach Boulevard with office buildings in the rear, provides a dynamic and versatile environment.

• CAP approach

  CAP return

  Valuation

  6%

  $2,035,228

  6.5%

  $1,878,672

  7%

  $1,744,481

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,234,948

  Geo Method

  $1,609,642

• Alternative Use

  Use

  Valuation

  Residential

  $2,329,554

  Hospitality

  $2,133,858

  Educational

  $1,775,345

  Medical

  $1,836,402

  Retail

  $2,761,648

Location Insight

City

Virginia Beach

County

Virginia Beach City

State

Virginia

Latitude

36.8545

Longitude

-76.1754

CBSA code

47260

CBSA name

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

Property Tax & Assessments

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