Retail and Automotive Shop
1152-1156 Portsmouth Blvd Suffolk, VA
For Sale
Contact for pricing
Two buildings with fenced yard, suitable for investors or users.
Property Size7,800 SF
Lot Size1.16 Acres
Price / SF$89.10
Days on Market1105
Property Features for 1152-1156 Portsmouth Blvd
General Information
Standard status
Active
Size
7,800 SF
Lot size
1.16 Acres
Property subtype
INDUSTRIAL
Listing Agency:
S.L. Nusbaum Realty Co - Corporate
(757) 679-3273
Listed By:
Michael Myers
(757) 679-3273
Source:
Moodyscre
Added: Jul 21, 2023
Changed: Jul 10
Last Checked: Jul 21 at 6:59AM
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 S.L. Nusbaum Realty Co - Corporate
Investment Insights
Based on property information with market context.
The property features a 6,000 square foot grade-level retail or shop building, measuring 60 feet by 100 feet, which includes one 10-foot by 10-foot overhead door. Additionally, there is an 1,800 square foot automotive shop building equipped with three 12-foot by 12-foot overhead doors. The site includes a partially paved, stabilized, and fenced yard adjacent to and behind the buildings. The location benefits from a traffic count of 24,000 cars per day, based on 2016 data for Portsmouth Boulevard at C Street. The property is immediately available for an investor or user.
Key Highlights
- High traffic count: 24,000 cars per day
- 6,000 S.F. grade level retail/shop building
- 1,800 S.F. automotive shop building with three 12' x 12' overhead doors
Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $93.6k | $12.00 |
| − Vacancy | −$5.1k | −$0.66 |
| EGI | $88.5k | $11.34 |
| − OpEx | −$26.5k | −$3.40 |
| NOI | $61.9k | $7.94 |
7,800 SF · lease $12.00/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$884.5K
$774.0K – $1.03M
NOI $61,916 @ 7.0% cap · market cap 8.91%
Second Best
Industrial
$743.9K
$650.9K – $867.9K
NOI $52,072 @ 7.0% cap · market cap 7.49%
Theoretical Best
Office A
$1.81M
$1.58M – $2.11M
NOI $126,517 @ 7.0% cap · market cap 18.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Similar Off Market Nearby
- Lester Brothers Services & Repair — 1156 Portsmouth Blvd, Suffolk, VA 23434
- hucks automotive llc — 1156 Portsmouth Blvd, Suffolk, VA 23434
- A1 Players Premier Mobile Truck Repair — 250 Suburban Dr, Suffolk, VA 23434
- SUFFOLK AUTO SERVICE & COLLISION — C St, Suffolk, VA 23434
- Dynamic Diesel Solutions — 1326 Portsmouth Blvd, Suffolk, VA 23434
Frequently Asked Questions
What type of property is this?
Auto shop - Two buildings with fenced yard, suitable for investors or users.
Where is this auto shop located?
The property is located at 1152-1156 Portsmouth Blvd Suffolk, VA.
What is the asking price?
The asking price for this property is $695,000.
What are key features of this property?
This property features: High traffic count: 24,000 cars per day; 6,000 S.F. grade level retail/shop building; 1,800 S.F. automotive shop building with **three 12' x 12' overhead doors**
