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1081 19th Street LLC Purchases Office Building In Virginia Beach For $5.56M
SOLD
$5,562,500
Virginia
See Similar DealsOffice32,435 SF
Sold 01/21/2026
SOLD
1081 19th Street LLC Purchases Office Building In Virginia Beach For $5.56M
1081 19th Street
See Similar DealsOffice32,435 SF
Sold 01/21/2026
Summary
VIRGINIA
Asset Type:Office
Price Per Square Foot:$171
Total Square Footage:32,435 SF
Transaction Type:Sale
An oceanfront office building located at 1081 19th Street in Virginia Beach, VA, has been sold for $5,562,500. The property spans 32,435 square feet, translating to a price per square foot of $171. The first-floor space available ranges from 1,500 to 10,000 square feet.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $5,562,500
- Buyer: 1081 19th Street LLC
- Seller: 19th Street LLC
- Brokers: John P. Duffy, Jr & Rob Wright - Cushman & Wakefield
Cushman & Wakefield | Thalhimer facilitated the sale of 1081 19th Street to 1081 19th Street LLC, which plans to redevelop and occupy the building. This transaction reflects the strategic move by the buyer to enhance the property's use and offerings.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$296,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$19,762.39
Cash-on-Cash Return-1.27%
Monthly Debt Service$26,369.09
Annual Debt Service$316,429.05
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