Built-Out Retail
For Sale
Contact for pricing
1329 Oceana Blvd, Virginia Beach, VA 23454
Existing barber equipment and fixtures support a ready personal-service setup within a leased commercial suite.
Property Size1,273 SF
Price / SF$117.83
Days on Market206
Property Features for 1329 Oceana Blvd
General Information
Standard status
Active
Size
1,273 SF
Property subtype
Retail
Zoning
Commercial
Occupancy
100%
Building Details
Buildings
1
Stories
1
Units
1
Tenancy
Single
Listing Agency:
Supreme Real Estate Group
Listed By:
Francesco Tommaso · License #VA
Source:
Crexi
Added: Feb 6
Changed: Aug 30
Last Checked: Aug 30 at 1:50AM
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 Supreme Real Estate Group
Investment Insights
Based on property information with market context.
Suite 120 at 1329 Oceana Blvd is a 1,273-square-foot retail space configured for barber shop operations. The premises include an existing barber shop build-out along with professional barber equipment and fixtures. The offering excludes the business name and goodwill, while lease assumption is required.
The space is positioned along Oceana Boulevard in Virginia Beach, with access to nearby residential neighborhoods, military bases, and surrounding retail. Commercial zoning supports the property’s retail setting. The existing configuration provides a foundation for a barber, stylist, or related personal-service concept without starting from an unfinished interior.
The space is positioned along Oceana Boulevard in Virginia Beach, with access to nearby residential neighborhoods, military bases, and surrounding retail. Commercial zoning supports the property’s retail setting. The existing configuration provides a foundation for a barber, stylist, or related personal-service concept without starting from an unfinished interior.
Key Highlights
- 1,273 SF retail suite at 1329 Oceana Blvd, Suite 120
- Existing barber shop build‑out with professional equipment and fixtures
- Lease assumption required
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
$13,331
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
8.89%
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%
$266,620
$266.6K
Cap Rate 7%
$190,443
$190.4K
Cap Rate 9%
$148,122
$148.1K
Market Conditions
NOI Build-Up for 1,273 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
$19.9K $15.60/SF
− Vacancy
−$814 −$0.64/SF
EGI
$19.0K $14.96/SF
− OpEx
−$5.7K −$4.49/SF
NOI
$13.3K $10.47/SF
Area
ZIP 23454
Vacancy
4.10%
Lease Rate
$15.60 /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%
$266,620
Cap Rate 7%
$190,443
Cap Rate 9%
$148,122
Alternative Uses
Best Use
Retail
$190.4K
$166.6K – $222.2K
NOI $13,331 @ 7.0% cap · market cap 8.89%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$322.0K
$281.8K – $375.7K
NOI $22,540 @ 7.0% cap · market cap 15.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
260
Businesses Nearby
69k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 75%
Dining 25%
Wawa
Shops & Services
37,889 visits/mo
0.4 miles
Dunkin' Donuts
Dining
10,032 visits/mo
0.3 miles
7-Eleven
Shops & Services
9,729 visits/mo
0.3 miles
Wendy's
Dining
7,304 visits/mo
0.5 miles
7-Eleven
Shops & Services
3,335 visits/mo
0.4 miles
Demographics for 23454, VA
58,665
Population
24,253
Households
2.4
Avg Household Size
38
Median Age
43%
College-Educated
94%
High-School Grad
22.5 sq mi
ZIP Area
2,607
Density / Sq Mi
$97,835
Median Household Income
$48,961
Median Earnings
$1,600
Median Rent
$401,900
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 - Existing barber equipment and fixtures support a ready personal-service setup within a leased commercial suite.
Where is this retail space located?
The property is located at 1329 Oceana Blvd Virginia Beach, VA.
What is the asking price?
The asking price for this property is $150,000.
What are key features of this property?
This property features: 1,273 SF retail suite at 1329 Oceana Blvd, Suite 120; Existing barber shop build‑out with professional equipment and fixtures; Lease assumption required
