Flex Space with Fenced
New
For Sale
$1,500,000
3259 Virginia Beach Boulevard, Virginia Beach, VA 23452
Commercial/Industrial, Virginia Beach, VA
Property Size6,125 SF
Lot Size0.34 Acres
Price / SF$244.90
Days on Market5
Property Features for 3259 Virginia Beach Boulevard
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
B2
Subdivision
LYNNHAVEN ACRES
Standard status
Active
Size
6,125 SF
Lot size
0.34 Acres
Taxes and HOA fees
Tax Annual Amount
9254
Utilities
Heating system
Forced Air
Cooling system
Central Air
Amenities
large roller door
fenced outdoor storage area
signage opportunities
Building Details
Year built
1960
Listing Agency:
Atkinson Realty
(757) 425-2500
Listed By:
Clay Atkinson
(757) 285-7055
Added: Sep 3
Changed: Sep 4
Last Checked: Sep 7 at 4:06PM
MLS# 10652377
Copyright © 2026 Real Estate Information Network, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 6,125-square-foot flex space was built in 1960 and includes forced-air heating and central air. The building can be arranged as two separate units, with an individual front entrance for each, supporting flexible occupancy configurations. A large roller door and fenced outdoor storage area extend the usable service and storage capacity.
The property sits on 0.336 acres along Virginia Beach Boulevard in Virginia Beach, VA 23452. It includes 21 parking spaces and signage opportunities visible from the boulevard. B2 zoning is in place, and the existing configuration includes front access, rear service access, and outdoor storage.
The property sits on 0.336 acres along Virginia Beach Boulevard in Virginia Beach, VA 23452. It includes 21 parking spaces and signage opportunities visible from the boulevard. B2 zoning is in place, and the existing configuration includes front access, rear service access, and outdoor storage.
Key Highlights
- 6,125 SF flex space on 0.336 acres
- B2 zoning
- Configurable into two separate units with individual front entrances
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$86,789
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.79%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,735,780
$1.7M
Cap Rate 7%
$1,239,843
$1.2M
Cap Rate 9%
$964,322
$964.3K
Market Conditions
NOI Build-Up for 6,125 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$141.1K $23.04/SF
− Vacancy
−$25.4K −$4.15/SF
EGI
$115.7K $18.89/SF
− OpEx
−$28.9K −$4.72/SF
NOI
$86.8K $14.17/SF
Area
ZIP 23452
Vacancy
18.00%
Lease Rate
$23.04 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,735,780
Cap Rate 7%
$1,239,843
Cap Rate 9%
$964,322
Alternative Uses
Best Use
Office B
$1.24M
$1.08M – $1.45M
NOI $86,789 @ 7.0% cap · market cap 5.79%
Second Best
Retail
$916.3K
$801.8K – $1.07M
NOI $64,143 @ 7.0% cap · market cap 4.28%
Theoretical Best
Office A
$1.59M
$1.39M – $1.85M
NOI $111,132 @ 7.0% cap · market cap 7.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,125
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 23452, VA
59,076
Population
23,455
Households
2.5
Avg Household Size
37
Median Age
35%
College-Educated
95%
High-School Grad
15.1 sq mi
ZIP Area
3,912
Density / Sq Mi
$77,327
Median Household Income
$44,009
Median Earnings
$1,571
Median Rent
$324,000
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Configurable commercial building with separate entrances, service access, and B2 zoning for varied business uses.
Where is this flex space located?
The property is located at 3259 Virginia Beach Boulevard Virginia Beach, VA.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 6,125 SF flex space on 0.336 acres; B2 zoning; Configurable into two separate units with individual front entrances
