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    Food Lion-Anchored Retail Marketplace Title is generated by Realmo AI

    5020 Ferrell Parkway, Virginia Beach, VA 23464

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    Newly renovated, grocery-anchored center offering prime endcap and nearby shop space with strong daily traffic exposure.

    Type:Retail
    Added:
    Jun 2, 2026
    Days on Market:
    2
    Last Refresh:
    Jun 2 at 3:42 am

    Property Features for 5020 Ferrell Parkway

    General Information

    Standard status
    Active
    Property subtype
    Retail

    Properties For Sale

    at 5020 Ferrell Parkway Contact us

    We can help!

    Listing Contact
    Kris Fuller

    Listing agent Kris Fuller

    Listing office Divaris Real Estate - Richmond

    Listing date Jun 2, 2026

    Source Divaris

    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 Divaris Real Estate - Richmond

    HighLights

    • Food Lion‑anchored neighborhood center newly renovated along Ferrell Parkway with 48,000+ VPD traffic.
    • 1,600 SF prime endcap space available in the center.
    • 1,100 SF former salon space available.
    • Tenant mix includes Food Lion, O'Reilly's, GNC, Supercuts, and Chartway.
    • Panel signage available on the Ferrell Parkway pylon.
    • Immediate access to a signalized intersection; Brand new O'Reilly's Automotive now open.

    Overview

    Parkway Marketplace is a newly renovated, Food Lion-anchored neighborhood retail center designed to serve everyday needs in a dense residential area. The tenant mix is built around grocery, restaurant, service, and convenience uses, with brand presence from Food Lion, O'Reilly's, GNC, Supercuts, and Chartway. Space currently available includes a 1,600 SF prime endcap and a 1,100 SF former salon unit, providing options for both established retail brands and service-oriented concepts. The property also includes panel signage options on the Ferrell Parkway pylon.

    The center is positioned along heavily trafficked Ferrell Parkway with 48,000+ vehicles per day, supporting strong visibility and consistent traffic flow. Access is provided via immediate entry to a signalized intersection, which helps serve both passing motorists and local customers. National and service anchors in place contribute to repeat visitation throughout the day.

    With its grocery anchor, practical nearby tenant roster, and direct access from a signalized location, Parkway Marketplace is a strong fit for retailers and service businesses seeking reliable daily foot traffic and customer familiarity. The availability of both an endcap and a secondary retail/service space allows operators to match their format to the most appropriate storefront configuration within the center.
    Location Intelligence

    Current Use by Public Records

    7 Cities Inspections Home Inspector Coinstar Kiosk | Bitcoin ... Atm Franchise Connector Financial Advisor New Number 1 ... Restaurant Mel's Place Bar & Pub

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

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

    Similar Places Nearby

    • Parkway Marketplace — 5004 Ferrell Pkwy, Virginia Beach, VA 23464
    • Shoppes At Lake James — 5347 Lila Ln, Virginia Beach, VA 23464
    • Coinstar Kiosk | Bitcoin ATM — Food Lion, 5020 Ferrell Pkwy, Virginia Beach, VA 23464
    • Indian Square Shopping Center — 5313 Indian River Rd, Virginia Beach, VA 23464
    • Coinstar Kiosk | Bitcoin ATM — Harris Teeter, 5060 Ferrell Pkwy, Virginia Beach, VA 23464

    Location Insight

    • Map
    • Local Demand
    City
    Virginia Beach
    County
    Virginia Beach
    State
    Virginia
    Longitude
    -76.1655574
    Latitude
    36.7946699

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    FAQs

    What type of property is this?
    Shopping center - Newly renovated, grocery-anchored center offering prime endcap and nearby shop space with strong daily traffic exposure.
    Where is this shopping center located?
    The property is located at 5020 Ferrell Parkway Virginia Beach, VA.
    What are key features of this property?
    This property features: Food Lion‑anchored neighborhood center newly renovated along Ferrell Parkway with 48,000+ VPD traffic.; 1,600 SF prime endcap space available in the center.; 1,100 SF former salon space available.
    (757) 560-9064
    We can help!
    Listing Contact
    Kris Fuller
    Learn More
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

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

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