Restaurant Business with
For Sale
$275,000
1102 Atlantic Ave Unit 103, Virginia Beach, VA 23451
Existing lease may continue with the restaurant operation and its installed equipment.
Property Size1,080 SF
Price / SF$254.63
Days on Market47
Property Features for 1102 Atlantic Ave Unit 103
General Information
Standard status
Active
Size
1,080 SF
Additional Details
Business Included
Yes
Equipment Included
Yes
Listing Agency:
Creed Realty
Listed By:
Denis Pugachev · License #71937
(757) 502-4070
Source:
Honorableservicerealty
Added: Sep 4
Changed: Oct 16
Last Checked: Oct 7 at 4:44PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Creed Realty
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This offering is for a restaurant business rather than real estate. The sale includes equipment that has been paid off, allowing the operation to transfer with its existing restaurant setup.
The current lease can continue at 1102 Atlantic Ave Unit 103 in Virginia Beach, Virginia. The business has a 4.8-star rating on Google, and additional information is available through the listing contact.
The current lease can continue at 1102 Atlantic Ave Unit 103 in Virginia Beach, Virginia. The business has a 4.8-star rating on Google, and additional information is available through the listing contact.
Key Highlights
- Business sale only; no real estate included
- Paid‑off restaurant equipment included
- Existing lease may continue
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$9,230
Cap Rate
3.36%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$184,600
$184.6K
Cap Rate 7%
$131,857
$131.9K
Cap Rate 9%
$102,556
$102.6K
Market Conditions
NOI Build-Up for 1,080 SF
Gross rent
$12.7K $11.76/SF
− Vacancy
−$394 −$0.36/SF
EGI
$12.3K $11.40/SF
− OpEx
−$3.1K −$2.85/SF
NOI
$9.2K $8.55/SF
Area
Virginia Beach, VA
Vacancy
3.10%
Lease Rate
$11.76 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$184,600
Cap Rate 7%
$131,857
Cap Rate 9%
$102,556
Alternative Uses
Best Use
Specialty Retail
$131.9K
$115.4K – $153.8K
NOI $9,230 @ 7.0% cap · market cap 3.36%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$277.1K
$242.4K – $323.2K
NOI $19,394 @ 7.0% cap · market cap 7.05%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
823
Businesses Nearby
58k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Hotels & Casinos 69%
Shops & Services 22%
Dining 5%
Groceries 5%
DoubleTree by Hilton Virginia Beach Oceanfront South
Hotels & Casinos
11,027 visits/mo
0.3 miles
SpringHill Suites Virginia Beach Oceanfront
Hotels & Casinos
7,799 visits/mo
0.1 miles
7-Eleven
Shops & Services
7,564 visits/mo
0.5 miles
Moxy Hotels
Hotels & Casinos
6,821 visits/mo
0.1 miles
Hampton Inn Oceanfront South Virginia Beach
Hotels & Casinos
5,193 visits/mo
0.0 miles
Demographics for 23451, VA
44,879
Population
24,897
Households
1.8
Avg Household Size
41
Median Age
57%
College-Educated
97%
High-School Grad
19.8 sq mi
ZIP Area
2,267
Density / Sq Mi
$97,945
Median Household Income
$57,472
Median Earnings
$1,697
Median Rent
$591,300
Median Home Value
Market
Vacancy Rate% for Retail in South region
Similar Off Market Nearby
- Fish Bones Restaurant and Seafood Buffet — 1211 Atlantic Ave #13, Virginia Beach, VA 23451
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Existing lease may continue with the restaurant operation and its installed equipment.
Where is this conventional restaurant located?
The property is located at 1102 Atlantic Ave Unit 103 Virginia Beach, VA.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: Business sale only; no real estate included; Paid‑off restaurant equipment included; Existing lease may continue
