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Suffolk Tower Holdings Acquires Oceana Center One Office In Virginia Beach For $5.2M
SOLD
$5,200,000
Virginia
See Similar DealsOffice
Sold 02/04/2026
SOLD
Suffolk Tower Holdings Acquires Oceana Center One Office In Virginia Beach For $5.2M
484 Viking Drive
See Similar DealsOffice
Sold 02/04/2026
Summary
VIRGINIA
Asset Type:Office
Transaction Type:Sale
The property involved in this transaction is an office asset located at 484 Viking Drive, Virginia Beach, VA. The sale occurred on February 4, 2026, covering an area of 5.06 acres. The total sale price for the property was $5,200,000.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $5,200,000
- Address: 484 Viking Drive
- Market: Virginia Beach, VA
- Acres: 5.06
The transaction was facilitated by brokers Rob Wright, John P. Duffy, Jr, and Josh Fulton, who are associated with Cushman & Wakefield. Suffolk Tower Holdings acquired the property, Oceana Center One, which will be occupied by a law firm.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$277,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$18,474.52
Cash-on-Cash Return-1.27%
Monthly Debt Service$24,650.65
Annual Debt Service$295,807.83
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