Skip to main content

Office

5226 Indian River Rd

5226 Indian River Rd, Virginia Beach, VA 23464

Listing Price: $2,100,000

Cap Rate
7.24%
Gross SF
13,125
Rentable SF
13,125
Price/Gross SF
$160.00
Lot Size
1.00 acres
Year Built
1986

Investment Overview

Marcus & Millichap is pleased to present the Exclusive Offering of 5226 Indian River Road, Virginia Beach, VA, 23464. The subject property is a 13,125 sq ft building that is 100% occupied by 4-tenants. The primary tenant is Engineering & Testing Services which occupies half of the building. The lease expiration for that tenant is in June 2027, with an option to renew with all terms and condition remaining, including a 3% rent escalation. The ETS, Inc. provides Geotechnical Engineering and Construction Materials Testing services throughout the Commonwealth of Virginia and North Carolina. The second tenant is Glass Doctor, which has been operating out of this location for three years. The lease expiration for this tenant is December 2023, with an option to renew with all terms and condition remaining, including a 3% rent escalation. The Gass Doctor is committed to delivering high-quality glass products and services to those in the Virginia Beach area. They service homeowners, businesses, and vehicle owners in the areas surrounding Chesapeake, Norfolk, Suffolk, Portsmouth, Hampton, and Newport News. The third tenant is Life Compass Therapy, a private group practice in Virginia Beach specializing in Family, Individual, and Couples Counseling and Psychotherapy. The lease expiration on that tenant is in January 2025, with an option to renew with all terms and condition remaining, including a 3% escalation. They provide individualized treatment plans and reachable goals to people. The last tenant is Sky Surgical, which has been operating out of this location for three years. The lease expiration on that tenant is in November 2023, with an option to renew with all terms and condition remaining, including a 3% escalation. The property is located near the busy intersection of Indian River Road & Kempsville Road. It provides attractive returns with stable cash flow and rent growth, making this an exciting investment opportunity. For more information and due diligence, please contact us.

Investment Highlights

  • Turnkey asset with steady cashflow
  • Fully renovated in 2008 office building
  • Class B office building, 100% occupied

Exclusively Listed By

Financing By

  • Jared Cassidy

    First Vice President, Capital Markets

    Direct:

    Email Jared

    Washington, D.C., MD

Listing Price: $2,100,000

Cap Rate
7.24%
Gross SF
13,125
Rentable SF
13,125
Price/Gross SF
$160.00
Lot Size
1.00 acres
Year Built
1986

Investment Highlights

  • Turnkey asset with steady cashflow
  • Fully renovated in 2008 office building
  • Class B office building, 100% occupied

Investment Overview

Marcus & Millichap is pleased to present the Exclusive Offering of 5226 Indian River Road, Virginia Beach, VA, 23464. The subject property is a 13,125 sq ft building that is 100% occupied by 4-tenants. The primary tenant is Engineering & Testing Services which occupies half of the building. The lease expiration for that tenant is in June 2027, with an option to renew with all terms and condition remaining, including a 3% rent escalation. The ETS, Inc. provides Geotechnical Engineering and Construction Materials Testing services throughout the Commonwealth of Virginia and North Carolina. The second tenant is Glass Doctor, which has been operating out of this location for three years. The lease expiration for this tenant is December 2023, with an option to renew with all terms and condition remaining, including a 3% rent escalation. The Gass Doctor is committed to delivering high-quality glass products and services to those in the Virginia Beach area. They service homeowners, businesses, and vehicle owners in the areas surrounding Chesapeake, Norfolk, Suffolk, Portsmouth, Hampton, and Newport News. The third tenant is Life Compass Therapy, a private group practice in Virginia Beach specializing in Family, Individual, and Couples Counseling and Psychotherapy. The lease expiration on that tenant is in January 2025, with an option to renew with all terms and condition remaining, including a 3% escalation. They provide individualized treatment plans and reachable goals to people. The last tenant is Sky Surgical, which has been operating out of this location for three years. The lease expiration on that tenant is in November 2023, with an option to renew with all terms and condition remaining, including a 3% escalation. The property is located near the busy intersection of Indian River Road & Kempsville Road. It provides attractive returns with stable cash flow and rent growth, making this an exciting investment opportunity. For more information and due diligence, please contact us.

Exclusively Listed By

Financing By

  • Jared Cassidy

    First Vice President, Capital Markets

    Direct:

    Email Jared

    Washington, D.C., MD

MM Texture Background
MM Textured Background Lower