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 Market1195
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: Oct 25
Last Checked: Oct 26 at 8:26PM
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
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
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 / Yr
$61,916
Cap Rate
8.91%
Suggested Prices Based on Cap Rates
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
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 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.
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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
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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
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**
