Ironbound Offices - 5300 Palmer Lane

Investment Overview

5300 Palmer Lane is an approximately 4,800-square-foot, two-story office building offered for sale individually or as part of the Ironbound Village office portfolio. Situated near Ironbound Road and immediately adjacent to the New Town mixed-use development, the property offers an investor a small-building ownership opportunity in an established location in the heart of Williamsburg. The building is fully occupied by the Virginia Department of Health, who recently agreed to extend its lease.

Investment Highlights

• Offered for $975,000, which reflects a projected Year 1 cap rate of approximately 8.9%
• Approximately 4,800 SF in a two-story building on its own parcel
• Virginia Department of Health has recently agreed to extend its full building lease for 5 years
• Convenient access to New Town, Monticello Avenue, and Route 199
• Ample onsite parking
• Also available as part of a three-building, approximately 15,000 SF portfolio