425 Witchduck RdVirginia Beach, VA 23462

Property Details for 425 Witchduck Rd

Year built

1975

Construction

FRAME

Lot size

0.26 AC

Property size (Sq ft)

6,000 SF

Zone code

B2

Property type

Office buildings

APN

14667954000000

APU

14667954000000

Description

This exceptional investment opportunity presents two buildings comprising the Kempsville Professional Center, located at 425 & 437 S Witchduck Rd, Virginia Beach, VA 23462. The property boasts a total of 8,511 square feet of leasable space, distributed across 11 units and currently enjoying 100% occupancy. Eleven local businesses occupy the space, generating a strong 8.50% cap rate. Built in 1975, the complex sits on a substantial 23,913 square foot lot. One building offers 6,000 square feet, while the second building provides 2,511 square feet. The property benefits from high visibility and frontage on S. Witchduck Road, and is conveniently located within a half-mile of I-264, ensuring excellent accessibility. The asking price for this multi-tenant property is $1,154,000. This presents a rare chance to acquire a stable, high-performing commercial property in a desirable Virginia Beach location. The property's strong occupancy and prime location make it an attractive investment for discerning buyers seeking consistent cash flow and potential for future appreciation.

• CAP approach

  CAP return

  Valuation

  6%

  $1,267,002

  6.5%

  $1,169,541

  7%

  $1,086,002

• Comparable approach

  Method

  Valuation

  Relative Method

  $768,800

  Geo Method

  $1,002,060

• Alternative Use

  Use

  Valuation

  Residential

  $1,450,230

  Hospitality

  $1,328,403

  Educational

  $1,105,216

  Medical

  $1,143,226

  Retail

  $1,719,225

Location Insight

City

Virginia Beach

County

Virginia Beach City

State

Virginia

Latitude

36.828

Longitude

-76.1609

CBSA code

47260

CBSA name

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

Property Tax & Assessments

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