Office Properties for sale in Suffolk, Virginia, offer a unique opportunity for investors to tap into the city's diverse economy and rich history. As the largest city in Virginia by land area, Suffolk provides a wide range of investment opportunities in office properties, from industrial and manufacturing to retail and hospitality. With major corporations like Unilever, Lipton Tea, and Lockheed Martin calling Suffolk home, office properties in the area are well-positioned to attract a talented workforce and capitalize on the city's strong transportation infrastructure. Suffolk's amenities, including the Louise Obici Memorial Hospital, the Great Dismal Swamp, and the Suffolk Center for Cultural Arts, make it an attractive location for businesses and employees alike. Additionally, the city's proximity to Norfolk, Portsmouth, Chesapeake, and Newport News makes it an ideal location for companies looking to serve the larger Hampton Roads market.
With 4 office properties for sale in Suffolk, investors have a range of options to choose from. Suffolk's office properties offer an average price per square foot of $168 USD and an average size of 8,898 square feet, with the largest property available spanning 22,395 square feet. The city's office properties also boast an average cap rate of 6.5%. In addition to office properties, Suffolk is also home to a range of other commercial properties, including commercial real estate, apartment buildings, shopping centers, and hotels. The city's commercial real estate market is driven by its strong industrial and manufacturing sectors, while its apartment buildings offer a range of options for residents. Suffolk's shopping centers, such as the Suffolk Marketplace, provide a convenient location for retailers, and its hotels, like the Hilton Garden Inn Suffolk Riverfront, offer comfortable accommodations for visitors. Overall, Suffolk's diverse range of commercial properties makes it an attractive location for investors and businesses alike.
What is the average price per square foot for office properties in Suffolk?
The average price per square foot for office properties in Suffolk is $168 USD, with 4 available listings ranging in size from 8,898 square feet to 22,395 square feet.
What should I know about office property classifications (Class A, B, C)?
When searching for office properties for sale in Suffolk, it's essential to understand the classification system, which categorizes properties based on their quality, amenities, and location, to make an informed investment decision.
- Class A office properties are typically high-rise buildings with modern amenities, prime locations, and high-quality finishes, attracting top-tier tenants and commanding the highest rents.
- Class B office properties offer functional space with average amenities, often located in decent areas, and are suitable for a wide range of tenants, providing a balance between quality and affordability.
- Class C office properties are typically older buildings with limited amenities, located in less desirable areas, and are often in need of renovation, making them more affordable but also presenting potential risks and challenges.
