Restaurant Business with
New
For Sale
$275,000
1102 Atlantic Avenue, Virginia Beach, VA 23451
Commercial/Industrial, Virginia Beach, VA
Property Size1,080 SF
Price / SF$254.63
Days on Market5
Property Features for 1102 Atlantic Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Subdivision
ALL OTHERS AREA 43
Standard status
Active
Size
1,080 SF
Utilities
Cooling system
Central Air
Building Details
Roof type
Tar/Gravel
Listing Agency:
Creed Realty
Listed By:
Denis Pugachev
(757) 502-4070
Added: Aug 30
Changed: Aug 31
Last Checked: Sep 3 at 12:06PM
MLS# 10651523
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 offering is for a restaurant business rather than a physical real estate asset. The business occupies 1,080 square feet and includes equipment that has been paid off. The existing lease may be continued, allowing the operation to remain in its current space.
The business is located at 1102 Atlantic Avenue in Virginia Beach, Virginia. The premises have central air conditioning and a tar-and-gravel roof. Online reviews show a 3.8-star Google rating.
The business is located at 1102 Atlantic Avenue in Virginia Beach, Virginia. The premises have central air conditioning and a tar-and-gravel roof. Online reviews show a 3.8-star Google rating.
Key Highlights
- Restaurant business sale, not a real estate transaction
- 1,080‑square‑foot leased restaurant space
- Paid‑off restaurant equipment included
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
$9,230
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
3.36%
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%
$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
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
$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 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%
$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.
Property Analytics
Property Profile
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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 - Business sale includes paid-off equipment and the ability to continue the existing lease.
Where is this conventional restaurant located?
The property is located at 1102 Atlantic Avenue 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: Restaurant business sale, not a real estate transaction; 1,080‑square‑foot leased restaurant space; Paid‑off restaurant equipment included
