1040 University Blvd - Office FOR SALE


Portsmouth, VA 23703
$6,500,000 USD
757-640-8210
1040 University Blvd, Portsmouth, VA for Sale
$6,500,000 USD
Office - FOR SALE
1/26
null | Request Cap Rate

1040 University Blvd
Portsmouth, VA 23703


HIGHLIGHTS

  • Has over 13,000 square feet of contiguous space available,
  • Quality Construction and new HVAC systems
  • Excellent regional connectivity via Route 164 and major Hampton Roads corridors.
  • Approximately 78% leased, providing immediate income with future upside potential.
  • Includes significant on-site surface parking with 232 spaces in total.

OVERVIEW

MAST One is a premier three-story Class A office building within the Harbour View submarket in Portsmouth, Virginia. Constructed in 2007, this 59,878-square-foot property offers a contemporary design, quality construction, and a desirable business address. Occupancy currently stands at approximately 78%, with a strong tenant mix including regional medical practices, government agencies, and professional service firms. Tenants include Bon Secours, the U.S. Food & Drug Administration, the Supreme Court of Virginia, and multiple financial and legal offices, creating a diversified and stable income stream. Situated at the corner of Western Freeway (Route 164) and College Drive, the property provides excellent visibility with daily traffic counts of over 51,000 vehicles. MAST One is part of a 148-acre mixed-use development combining residential, retail, and dining, all within a walkable neighborhood setting. The location offers unparalleled access to the broader Hampton Roads region, including Suffolk, Norfolk, Chesapeake, and the Peninsula, making it convenient for clients and employees alike. Additionally, with over 13,000 contiguous square feet available, the property presents both value-add potential and opportunities for owner-users seeking a flagship presence in the market.

FOR SALE DETAILS

PRICE

$6,500,000 USD

PRICE/SF

$109 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

MAST One

PROPERTY TYPE

Office

TOTAL BUILDING SIZE

-

STORIES

3

BUILDING CLASS

A

YEAR BUILT

2007

SPRINKLERS

-

PARKING SPACES

232

LAND DETAILS

LAND ACRES

3.45 AC

LAND SF

150,282 SF

ZONING

GMU

APN/PARCEL ID

0833-0016

ASK ABOUT THIS PROPERTY

Ryan KingHarvey Lindsay Commercial Real EstateMore Info
757-640-8210

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Ryan KingHarvey Lindsay Commercial Real EstateMore Info
757-640-8210

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.