404 S Parliament Dr - Office FOR SALE


Virginia Beach, VA 23462
$1,395,000 USD
757-217-1892
404 S Parliament Dr, Virginia Beach, VA for Sale
$1,395,000 USD
Office - FOR SALE
1/4
null | 10.34% Cap Rate

404 S Parliament Dr
Virginia Beach, VA 23462


HIGHLIGHTS

  • Located conveniently in the heart of Virginia Beach

OVERVIEW

This two-story, ±8,740 square foot office building presents a fully leased investment opportunity with multiple stable tenants generating immediate cash flow. The property delivers a strong Year 1 Net Operating Income (NOI) of $144,226, reflecting a cap rate of over 10%. Built in 1977 and zoned B-2 Community Business District, it offers flexibility for a range of commercial uses, including future owner occupancy or continued multi-tenant income. Situated on a ±0.27-acre lot, the building includes 22 dedicated parking spaces and a recently renovated second floor. Strategically located between Witchduck and Newtown Roads, the site provides direct access to I-264 and I-64, ensuring excellent connectivity throughout the Hampton Roads region. Public transportation is readily available via nearby bus lines, and Norfolk International Airport is just a 15-minute drive away.

FOR SALE DETAILS

PRICE

$1,395,000 USD

PRICE/SF

$160 USD /SF

CAP RATE

10.34%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Office

TOTAL BUILDING SIZE

-

STORIES

2

BUILDING CLASS

C

YEAR BUILT

1977

SPRINKLERS

-

PARKING SPACES

22

LAND DETAILS

LAND ACRES

0.27 AC

LAND SF

11,761 SF

ZONING

B2

APN/PARCEL ID

1466-59-2346

ASK ABOUT THIS PROPERTY

Ricky AndersonColliers | VirginiaMore Info
757-217-1892

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Ricky AndersonColliers | VirginiaMore Info
757-217-1892

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