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    821 Lynnhaven Pkwy Virginia Beach, VA 23452

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    For Sale
    $6,100,000

    NNN Red Lobster with 5.25% cap rate for sale.

    Property size:
    7,370 SF
    Lot size:
    1.45 Acres

    Property Features for 821 Lynnhaven Pkwy

    General Information

    Size
    7,370 SF
    Lot size
    1.45 Acres

    Source: Vanderbilt Realty Agent Lyle Alper

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    NNN Red Lobster For Sale

    This property, currently operating as a Red Lobster restaurant, is available for purchase. The building has a size of 7,370 square feet and is situated on a 1.45-acre lot. The lease is guaranteed by Red Lobster under a NNN lease agreement. The property generates an annual rent of $327,761, with 2% annual increases, and has a cap rate of 5.25%.
    Insight Report Location Intelligence

    Current Use by Public Records

    Red Lobster Seafood Restaurant Neptune City Kitchen ... Remodeler General Mills Inc Distribution Service

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Virginia Beach
    County
    Virginia Beach
    State
    Virginia
    Longitude
    -76.0697342
    Latitude
    36.8130215

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    FAQs

    What type of property is this?
    Conventional restaurant - NNN Red Lobster with 5.25% cap rate for sale.
    Where is this conventional restaurant located?
    The property is located at 821 Lynnhaven Pkwy Virginia Beach, VA.
    What is the asking price?
    The asking price for this property is $6,100,000.
    What are key features of this property?
    This property features: - NNN Red Lobster Guarantor; - Annual Rent: $327,761; - Cap Rate: 5.25%
    (516) 507-7494
    Request Owner's contact information
    821 Lynnhaven Pkwy Virginia Beach, VA 23452
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    821 Lynnhaven Pkwy Virginia Beach, VA 23452
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