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    Retail/Shop Building on 1.15 Acres Title is generated by Realmo AI

    1152 1154 & 1156 Portsmouth Boulevard, Suffolk, VA 23434

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    For Sale
    $695,000

    Retail/shop building on 1.15 acre site for sale.

    Type:Commercial
    Property size:
    7,800 SF
    Lot size:
    1.15 Acres
    Price / SF:
    $89/SF
    Added:
    Mar 6, 2026
    Days on Market:
    96
    Last Refresh:
    Apr 5 at 11:54 pm

    Property Features for 1152 1154 & 1156 Portsmouth Boulevard

    General Information

    Standard status
    Active
    Size
    7,800 SF
    Lot size
    1.15 Acres
    Property subtype
    Commercial

    We can help!

    Listing Contact
    Michael Myers

    Listing agent Michael Myers

    Listing office S.L. Nusbaum Realty Co - Corporate

    Listing date Mar 6, 2026

    Source Slnusbaum

    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

    HighLights

    • High traffic location: 24,000 cars per day
    • Large 1.15 acre site with 7,800 S.F. of building space
    • Includes both a 6,000 S.F. retail/shop building and a 1,800 S.F. automotive shop building
    • Automotive shop has three 12' x 12' overhead doors
    • Partially paved, stabilized, and fenced yard
    • Located 300' from a signalized intersection

    Overview

    The property features a 7,800 square foot retail/shop building situated on a 1.15-acre site. Located 300 feet from the signalized intersection of Portsmouth Boulevard and Route 337 (Nansemond Parkway/East Washington Street), the property includes a 6,000 square foot grade-level retail/shop building (60' x 100') with a 10' x 10' overhead door. Additionally, there is an 1,800 square foot automotive shop building equipped with three 12' x 12' overhead doors. The building has a ceiling height of 16' +/-. The yard adjacent to and behind the buildings is partially paved, stabilized, and fenced. The traffic count is 24,000 cars per day (2,016 VPD - Portsmouth Boulevard at C Street). The property is immediately available for an investor or user.

    Local 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 (±1% cap)
    NOI $61,916 @ 7.0% cap · market cap 8.91%
    Second Best
    Industrial
    $743.9K
    $650.9K – $867.9K (±1% cap)
    NOI $52,072 @ 7.0% cap · market cap 7.49%
    Theoretical Best
    Office A
    $1.81M
    $1.58M – $2.11M (±1% cap)
    NOI $126,517 @ 7.0% cap · market cap 18.20%
    Zoning and permitted uses should be independently verified with local authorities.
    Location Intelligence

    Current Use by Public Records

    Bayside Coatings General Contractor

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Hotel & Motel

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

    Location Insight

    • Map
    • Local Demand
    City
    Suffolk
    County
    Suffolk
    State
    Virginia
    Longitude
    -76.5421
    Latitude
    36.746

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    FAQs

    What type of property is this?
    Retail space - Retail/shop building on 1.15 acre site for sale.
    Where is this retail space located?
    The property is located at 1152 1154 & 1156 Portsmouth Boulevard 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 location: 24,000 cars per day; Large 1.15 acre site with 7,800 S.F. of building space; Includes both a 6,000 S.F. retail/shop building and a 1,800 S.F. automotive shop building
    (757) 640-2273
    We can help!
    Listing Contact
    Michael Myers
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