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Parliament Drive Professional Building 5541 Parliament Dr 9,950 SF 100% Leased Office Building Virginia Beach, VA 23462 $2,285,465 CAD ($229.69 CAD/SF) 9.59% Cap Rate
Investment Highlights
- Centrally located
- Close proximity to I-264
- Abundant parking
Executive Summary
Purchase Price: $1,650,000
Net Operating Income = $158,256
Cap Rate = 9.6%
Located directly behind Arrowhead Plaza in the Princess Anne submarket of
Virginia Beach
Multi-tenant office / retail property with seventeen (17) rentable units ranging
from 325 square feet up to 1,000 square feet
Owner occupant opportunity with a few short term leases in place
Building size is 9,950 square feet on one parcel of land totaling 0.79 acres
64 surface parking spaces
Abundant parking, monument signage, and easy accessibility
New exterior and interior renovations completed over last two years
Located within one mile of Interstate 264
Net Operating Income = $158,256
Cap Rate = 9.6%
Located directly behind Arrowhead Plaza in the Princess Anne submarket of
Virginia Beach
Multi-tenant office / retail property with seventeen (17) rentable units ranging
from 325 square feet up to 1,000 square feet
Owner occupant opportunity with a few short term leases in place
Building size is 9,950 square feet on one parcel of land totaling 0.79 acres
64 surface parking spaces
Abundant parking, monument signage, and easy accessibility
New exterior and interior renovations completed over last two years
Located within one mile of Interstate 264
Financial Summary (Actual - 2026) Click Here to Access |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2026) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
Sale Type
Investment or Owner User
Property Type
Office
Property Subtype
Building Size
9,950 SF
Building Class
C
Year Built/Renovated
1975/2025
Price
$2,285,465 CAD
Price Per SF
$229.69 CAD
Cap Rate
9.59%
NOI
$219,205 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
500 SF
Slab To Slab
9’
Building FAR
0.29
Lot Size
0.79 AC
Zoning
B2 - Retail & Office
Parking
67 Spaces (6.73 Spaces per 1,000 SF Leased)
Amenities
- 24 Hour Access
- Signage
- Reception
- Air Conditioning
- Balcony
1 1
Fairly walkable
50/100
Exceptionally drivable
90/100
Limited public transit
30/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Number | 1467-23-1544 | Total Assessment | $1,177,361 CAD (2025) |
| Land Assessment | $299,327 CAD (2025) | Annual Taxes | -$1 CAD ($0.00 CAD/SF) |
| Improvements Assessment | $878,034 CAD (2025) | Tax Year | 2026 |
Property Taxes
Parcel Number
1467-23-1544
Land Assessment
$299,327 CAD (2025)
Improvements Assessment
$878,034 CAD (2025)
Total Assessment
$1,177,361 CAD (2025)
Annual Taxes
-$1 CAD ($0.00 CAD/SF)
Tax Year
2026
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Parliament Drive Professional Building | 5541 Parliament Dr
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