Retail and Automotive Shop
For Sale
Contact for pricing
1152-1156 Portsmouth Blvd, Suffolk, VA
Two buildings with fenced yard, suitable for investors or users.
Property Size7,800 SF
Lot Size1.16 Acres
Price / SF$89.10
Days on Market1150
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) 627-8611
Listed By:
Michael Myers
(757) 679-3273
Source:
Moodyscre
Added: Jul 21, 2023
Changed: Aug 11
Last Checked: Sep 12 at 9:05AM
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
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
$61,916
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
8.91%
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%
$1,238,320
$1.2M
Cap Rate 7%
$884,514
$884.5K
Cap Rate 9%
$687,956
$688.0K
Market Conditions
NOI Build-Up for 7,800 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
$93.6K $12.00/SF
− Vacancy
−$5.1K −$0.66/SF
EGI
$88.5K $11.34/SF
− OpEx
−$26.5K −$3.40/SF
NOI
$61.9K $7.94/SF
Area
Suffolk County, VA
Vacancy
5.50%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
30.00%
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%
$1,238,320
Cap Rate 7%
$884,514
Cap Rate 9%
$687,956
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
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
81
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
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Similar Off Market Nearby
- Lester Brothers Services & Repair — 1156 Portsmouth Blvd, Suffolk, VA 23434
- hucks automotive llc — 1156 Portsmouth Blvd, Suffolk, VA 23434
- Dynamic Diesel Solutions — 1326 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
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**
