Investment Opportunity - Colonial Square Office Complex

Highlights:

• The property's tenant mix is notably diverse — spanning government agencies, healthcare providers, professional services, retail, food service, and faith-based organizations
• Masonry frame and metal construction with vinyl and metal exterior walls; poured concrete slab foundation. Roofing includes asphalt shingle, metal, and built-up systems.
• $155,154 (2023) · $151,830 (2024) · $212,194 (2025) in documented capital improvements, totaling over $519,000 in recent reinvestment.
• All occupied units operate under modified gross leases, whereby tenants are responsible for their individually metered utilities only
• 97.5% Occupied

Description:

Colonial Square is a well-established, income-producing office and retail complex occupying a commanding position on U.S. Route 13 — the primary commercial corridor of Virginia's Eastern Shore. Strategically situated in Belle Haven, Accomack County, this 40-unit complex offers an investor a rare opportunity to acquire a large-scale, multi-tenant asset with a diversified and stable rent roll in an underserved and growing coastal market. The property is being offered at a 8.19% cap rate and is 97.5% occupied - home to tenants including Enterprise Cars, Legal Aid of VA, H&R Block, Sharp Energy, Virginia Game and Fisheries Police Dept, and many more! Long-term owner/developer will leaseback and assist with a smooth transition to new ownership.

The subject parcel spans 11.47 acres and encompasses all improvements, comprising approximately 61,498 square feet of gross building area across a single-story, multi-building campus. The property is served by well and septic. The property enjoys frontage on three roadways: Lankford Highway (Route 13), Merry Cat Lane, and King Street, with two dedicated interior roadways — Arthurs Court and LeCato Road — providing on-site circulation and access. Ample surface parking (100+ designated spaces) accommodates the property's diverse tenant mix.

Capital improvements of over $519,000 have been invested across 2023–2025, reflecting the current owner's commitment to maintaining and enhancing the asset. With consistent improvement year over year, the property is well-positioned for a new owner to benefit from stabilized, below-market rents and a captive, long-tenured tenant base.

Interior video: https://canva.link/50jjp99yqp9lv02
Exterior video: https://canva.link/nmcpd7sxzeetbw8

*Rent Roll and additional financials are available to qualified buyers with a signed NDA. Please DO NOT DISTURB the tenants. Tours can be available for qualified buyers with submitted LOIs.*

Located directly on Route 13 just south of Onley and north of Exmore.

---

Report Listing This listing was syndicated through:

Documents: