Old Donation Executive Park Office FOR SALE


Virginia Beach, VA - Northwest Virginia Beach
$2,950,000 USD
757-218-2297
, Virginia Beach, VA for Sale
$2,950,000 USD
Office - FOR SALE
1/3
null | 8.07% Cap Rate

Old Donation Executive Park
Virginia Beach, VA
Northwest Virginia Beach


HIGHLIGHTS

  • 100% leased across eight tenants with a weighted average lease term of 2.1 years.
  • Immediate access to Independence Boulevard and close proximity to I-264 for regional connectivity.
  • Located minutes from Town Center of Virginia Beach and surrounded by retail, dining, and business amenities.
  • Year 1 in-place NOI of $237,989, representing an 8.1% capitalization rate.
  • Opportunities for lease renewals and rent adjustments given below-market rental rates.
  • Offered at $2,950,000, significantly below replacement cost benchmarks.

OVERVIEW

Old Donation Executive Park offers investors a fully occupied, income-producing asset positioned just minutes from Virginia Beach Town Center. This three-building office complex spans 20,372 square feet across a 1.9-acre site, delivering immediate in-place cash flow combined with value-add upside. Current rents are approximately 16 percent below market, creating an opportunity for mark-to-market adjustments and enhanced returns. The property features direct-access, single-story layouts in a wood-frame construction, with convenient surface parking across 92 spaces. Its strategic location near the Hampton Roads commercial corridor and Independence Boulevard ensures exceptional connectivity, while proximity to prominent employers, retail destinations, and residential communities enhances long-term demand. New ownership can capitalize on the property’s stable occupancy and near-term lease rollover for future income growth. Offered at a price well below replacement cost, this asset supports strong investment fundamentals within a growing coastal market.

ASK ABOUT THIS PROPERTY

Clark SimpsonColliers | VirginiaMore Info
757-218-2297

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Clark SimpsonColliers | VirginiaMore Info
757-218-2297

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