Corner Retail
For Sale
Contact for pricing
6001 Holland Road, Suffolk, VA 23437
Retail building at the corner of Route 58 and Longstreet Lane, previously used for restaurants and suited for other retail.
Property Size2,852 SF
Price / SF$149.02
Days on Market1475
Property Features for 6001 Holland Road
General Information
Standard status
Active
Size
2,852 SF
Property subtype
Retail
Building Details
Year Built
1930
Listing Agency:
CENTURY 21 Gold Market Realty
Listed By:
Darren Stauffer · License #VA0225043776
(757) 562-2295
Source:
Crexi
Added: Aug 23, 2022
Changed: Aug 28
Last Checked: Aug 31 at 9:28PM
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 CENTURY 21 Gold Market Realty
Investment Insights
Based on property information with market context.
This retail property is located on a corner site and has been hosting restaurants for many years. The building is offered as a retail location that may be utilized for other types of retail as well, based on its existing setup and storefront use.
The property sits at the intersection of Route 58 and Longstreet Lane between downtown Suffolk and the Village of Holland. Public remarks indicate the site is designed for visibility and high-volume traffic for day-to-day retail operations.
For-sale details are provided for 6001 Holland Road, Suffolk, VA 23437. An in-person tour is recommended to review the existing improvements, layout for retail use, and the overall site configuration firsthand.
The property sits at the intersection of Route 58 and Longstreet Lane between downtown Suffolk and the Village of Holland. Public remarks indicate the site is designed for visibility and high-volume traffic for day-to-day retail operations.
For-sale details are provided for 6001 Holland Road, Suffolk, VA 23437. An in-person tour is recommended to review the existing improvements, layout for retail use, and the overall site configuration firsthand.
Key Highlights
- Retail building built in 1930
- Located on the corner of Route 58 and Longstreet Lane
- Previously used for restaurants and suited for other retail uses
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
$22,639
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
5.33%
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%
$452,780
$452.8K
Cap Rate 7%
$323,414
$323.4K
Cap Rate 9%
$251,544
$251.5K
Market Conditions
NOI Build-Up for 2,852 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
$34.2K $12.00/SF
− Vacancy
−$1.9K −$0.66/SF
EGI
$32.3K $11.34/SF
− OpEx
−$9.7K −$3.40/SF
NOI
$22.6K $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%
$452,780
Cap Rate 7%
$323,414
Cap Rate 9%
$251,544
Alternative Uses
Best Use
Retail
$323.4K
$283.0K – $377.3K
NOI $22,639 @ 7.0% cap · market cap 5.33%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$660.9K
$578.3K – $771.0K
NOI $46,260 @ 7.0% cap · market cap 10.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
9
Businesses Nearby
Explore this area
Business Placement
Demographics for 23437, VA
4,448
Population
2,126
Households
2.1
Avg Household Size
44
Median Age
22%
College-Educated
90%
High-School Grad
100.1 sq mi
ZIP Area
44
Density / Sq Mi
$74,513
Median Household Income
$52,718
Median Earnings
$999
Median Rent
$287,300
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Retail building at the corner of Route 58 and Longstreet Lane, previously used for restaurants and suited for other retail.
Where is this retail space located?
The property is located at 6001 Holland Road Suffolk, VA.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Retail building built in 1930; Located on the corner of Route 58 and Longstreet Lane; Previously used for restaurants and suited for other retail uses
