Flexible Flex Space with Roller
New
For Sale
$1,500,000
3259 Virginia Beach Blvd, Virginia Beach, VA 23452
Flexible layout with separate entrances, rear service access, and fenced outdoor storage.
Property Size6,125 SF
Price / SF$244.90
Days on Market2
Property Features for 3259 Virginia Beach Blvd
General Information
Standard status
Active
Size
6,125 SF
Total Parking Spaces
21
Property subtype
Commercial
Site & Location
Road Access
Yes
Fenced Yard
Yes
Outdoor Storage
Yes
Amenities
large roller door
fenced outdoor storage area
outstanding signage opportunities
Building Details
Year Built
1960
Buildings
1
Listing Agency:
ONYX Realty Professionals LLC
Listed By:
Patriot Property Management
(757) 478-4881
Source:
757patriotproperty
Added: Sep 6
Last Checked: Sep 7 at 7:04AM
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 ONYX Realty Professionals LLC
Investment Insights
Based on property information with market context.
Built in 1960, this 6,125-square-foot flex property offers a versatile commercial layout with front entry access and a rear roller door. The building can be arranged as two separate units, each with its own entrance, supporting owner-user occupancy, multiple businesses, or divided operations. The configuration is suited to retail, showroom, medical or professional office, and mechanical service uses.
The property is located at 3259 Virginia Beach Blvd in Virginia Beach, with visibility from Virginia Beach Blvd and signage opportunities. A fenced outdoor storage area extends the functional space, while 21 parking spaces support on-site access for occupants and visitors. The rear service access and adaptable floor plan provide practical options for businesses requiring storage, customer-facing space, or operational flexibility.
The property is located at 3259 Virginia Beach Blvd in Virginia Beach, with visibility from Virginia Beach Blvd and signage opportunities. A fenced outdoor storage area extends the functional space, while 21 parking spaces support on-site access for occupants and visitors. The rear service access and adaptable floor plan provide practical options for businesses requiring storage, customer-facing space, or operational flexibility.
Key Highlights
- 6,125 SF flex property built in 1960
- Layout can be divided into two units with separate front entrances
- Rear roller door provides service and loading access
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
$86,789
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
5.79%
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%
$1,735,780
$1.7M
Cap Rate 7%
$1,239,843
$1.2M
Cap Rate 9%
$964,322
$964.3K
Market Conditions
NOI Build-Up for 6,125 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
$141.1K $23.04/SF
− Vacancy
−$25.4K −$4.15/SF
EGI
$115.7K $18.89/SF
− OpEx
−$28.9K −$4.72/SF
NOI
$86.8K $14.17/SF
Area
ZIP 23452
Vacancy
18.00%
Lease Rate
$23.04 /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%
$1,735,780
Cap Rate 7%
$1,239,843
Cap Rate 9%
$964,322
Alternative Uses
Best Use
Office B
$1.24M
$1.08M – $1.45M
NOI $86,789 @ 7.0% cap · market cap 5.79%
Second Best
Retail
$916.3K
$801.8K – $1.07M
NOI $64,143 @ 7.0% cap · market cap 4.28%
Theoretical Best
Office A
$1.59M
$1.39M – $1.85M
NOI $111,132 @ 7.0% cap · market cap 7.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,125
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 23452, VA
59,076
Population
23,455
Households
2.5
Avg Household Size
37
Median Age
35%
College-Educated
95%
High-School Grad
15.1 sq mi
ZIP Area
3,912
Density / Sq Mi
$77,327
Median Household Income
$44,009
Median Earnings
$1,571
Median Rent
$324,000
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Traditions Catering & Events — 3636 Virginia Beach Blvd #108, Virginia Beach, VA 23452
- Traditions Catering — 3636 Virginia Beach Blvd #108, Virginia Beach, VA 23452
- Cattalani's — 3322 Virginia Beach Blvd, Virginia Beach, VA 23452
- Ellen's Cuisines — 3322 Virginia Beach Blvd #101A, Virginia Beach, VA 23452
- Hadassah's Cuisine — 3322 Virginia Beach Blvd #101A, Virginia Beach, VA 23452
Frequently Asked Questions
What type of property is this?
Flex space - Flexible layout with separate entrances, rear service access, and fenced outdoor storage.
Where is this flex space located?
The property is located at 3259 Virginia Beach Blvd Virginia Beach, VA.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 6,125 SF flex property built in 1960; Layout can be divided into two units with separate front entrances; Rear roller door provides service and loading access
