Retail Opportunity in Dense
For Sale
Contact for pricing
2332 Pruden Blvd, Suffolk, VA
Retail space suitable for store, restaurant, or other retail.
Property Size1,800 SF
Lot Size0.69 Acres
Price / SF$230.56
Days on Market570
Property Features for 2332 Pruden Blvd
General Information
Standard status
Active
Size
1,800 SF
Lot size
0.69 Acres
Property subtype
RETAIL
Listing Agency:
Cushman & Wakefield | Thalhimer - Virginia Beach
(757) 499-2900
Listed By:
Tom Dana · License #0225030036
(757) 718-2583
Source:
Moodyscre
Added: Feb 19, 2025
Changed: Sep 4
Last Checked: Sep 12 at 4:46AM
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 Cushman & Wakefield | Thalhimer - Virginia Beach
Investment Insights
Based on property information with market context.
This 1,800 square-foot property is suitable for a convenience store, restaurant, or general retail use. It is located at a signalized intersection within a dense retail corridor and benefits from close proximity to surrounding businesses.
Key Highlights
- Ideal for convenience store, restaurant, or retail.
- Located at a signalized intersection.
- Dense retail corridor location.
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
$27,556
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
6.64%
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%
$551,120
$551.1K
Cap Rate 7%
$393,657
$393.7K
Cap Rate 9%
$306,178
$306.2K
Market Conditions
NOI Build-Up for 1,800 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
$38.9K $21.60/SF
− Vacancy
−$2.1K −$1.19/SF
EGI
$36.7K $20.41/SF
− OpEx
−$9.2K −$5.10/SF
NOI
$27.6K $15.31/SF
Area
Suffolk County, VA
Vacancy
5.50%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
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%
$551,120
Cap Rate 7%
$393,657
Cap Rate 9%
$306,178
Alternative Uses
Best Use
Specialty Retail
$393.7K
$344.5K – $459.3K
NOI $27,556 @ 7.0% cap · market cap 6.64%
Second Best
Retail
$204.1K
$178.6K – $238.1K
NOI $14,288 @ 7.0% cap · market cap 3.44%
Theoretical Best
Office A
$417.1K
$365.0K – $486.6K
NOI $29,196 @ 7.0% cap · market cap 7.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
352
Businesses Nearby
59k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 36%
Shops & Services 33%
Groceries 28%
Home Improvements & Furnishings 3%
Aldi
Groceries
16,202 visits/mo
0.2 miles
Hardee's
Dining
11,884 visits/mo
0.1 miles
7-Eleven
Shops & Services
9,881 visits/mo
0.1 miles
Dunkin' Donuts
Dining
8,024 visits/mo
0.2 miles
Spectrum
Shops & Services
4,750 visits/mo
0.3 miles
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 space suitable for store, restaurant, or other retail.
Where is this retail space located?
The property is located at 2332 Pruden Blvd Suffolk, VA.
What is the asking price?
The asking price for this property is $415,000.
What are key features of this property?
This property features: Ideal for convenience store, restaurant, or retail.; Located at a signalized intersection.; Dense retail corridor location.
