Retail Property in Virginia
For Sale
Contact for pricing
1808 Salem Rd, Virginia Beach, VA
Retail property available for sale in Virginia Beach, VA.
Property Size14,364 SF
Lot Size2.95 Acres
Price / SF$208.86
Days on Market582
Property Features for 1808 Salem Rd
General Information
Standard status
Active
Size
14,364 SF
Lot size
2.95 Acres
Property subtype
RETAIL
Listing Agency:
Parker Burnell Real Estate Group
(757) 222-0111
Listed By:
Jay Burnell · License #0225051316
Source:
Moodyscre
Added: Dec 26, 2024
Changed: Jul 6
Last Checked: Jul 22 at 4:08AM
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 Parker Burnell Real Estate Group
Investment Insights
Based on property information with market context.
This retail property, located in Virginia Beach, Virginia, offers 14,364 square feet of space. It is suitable for retail or other retail purposes.
Key Highlights
- Retail property available.
- Located in Virginia Beach, VA.
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 | $224.1k | $15.60 |
| − Vacancy | −$9.2k | −$0.64 |
| EGI | $214.9k | $14.96 |
| − OpEx | −$64.5k | −$4.49 |
| NOI | $150.4k | $10.47 |
14,364 SF · lease $15.60/SF/yr · vacancy 4.10% · expense 30.00%
Alternative Uses
Best Use
Retail
$2.15M
$1.88M – $2.51M
NOI $150,424 @ 7.0% cap · market cap 5.01%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.68M
$3.22M – $4.30M
NOI $257,937 @ 7.0% cap · market cap 8.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
255
Businesses Nearby
50k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 65%
Shops & Services 35%
Food Lion Grocery Store
Groceries
32,053 visits/mo
0.4 miles
Navy Federal Credit Union
Shops & Services
17,599 visits/mo
0.1 miles
Market
Properties on Market for Retail properties & Spaces in Virginia Beach
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail property - Retail property available for sale in Virginia Beach, VA.
Where is this retail property located?
The property is located at 1808 Salem Rd Virginia Beach, VA.
What is the asking price?
The asking price for this property is $3,000,000.
What are key features of this property?
This property features: Retail property available.; Located in Virginia Beach, VA.
