Retail Space For
For Sale
Contact for pricing
3705 3709 3717 Tiffany Lane, Virginia Beach, VA 23456
Retail space available, totaling 17,857 square feet.
Property Size17,857 SF
Price / SF$193.20
Days on Market178
Property Features for 3705 3709 3717 Tiffany Lane
General Information
Standard status
Active
Size
17,857 SF
Property subtype
Retail
Zoning
B-2
Building Details
Tenancy
Multi
Listing Agency:
Riddle Associates, Inc.
(757) 353-2473
Listed By:
Larry Rumsey · License #VA
Source:
Crexi
Added: Mar 5
Changed: Aug 13
Last Checked: Aug 28 at 11:52PM
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 Riddle Associates, Inc.
Investment Insights
Based on property information with market context.
This commercial real estate offering consists of retail space with a total area of 17,857 square feet. The property is located on Tiffany Lane in Virginia Beach, Virginia.
Key Highlights
- Retail Property
- 17,857 SqFt
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
$239,826
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
6.95%
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%
$4,796,520
$4.8M
Cap Rate 7%
$3,426,086
$3.4M
Cap Rate 9%
$2,664,733
$2.7M
Market Conditions
NOI Build-Up for 17,857 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
$353.6K $19.80/SF
− Vacancy
−$11.0K −$0.61/SF
EGI
$342.6K $19.19/SF
− OpEx
−$102.8K −$5.76/SF
NOI
$239.8K $13.43/SF
Area
ZIP 23456
Vacancy
3.10%
Lease Rate
$19.80 /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%
$4,796,520
Cap Rate 7%
$3,426,086
Cap Rate 9%
$2,664,733
Alternative Uses
Best Use
Retail
$3.43M
$3.00M – $4.00M
NOI $239,826 @ 7.0% cap · market cap 6.95%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.49M
$3.93M – $5.24M
NOI $314,355 @ 7.0% cap · market cap 9.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
726
Businesses Nearby
164k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Superstores 59%
Dining 33%
Shops & Services 6%
Hotels & Casinos 2%
Target
Superstores
96,299 visits/mo
0.3 miles
Panda Express
Dining
22,961 visits/mo
0.1 miles
Wendy's
Dining
21,849 visits/mo
0.2 miles
7-Eleven
Shops & Services
9,453 visits/mo
0.1 miles
Tropical Smoothie Cafe
Dining
5,877 visits/mo
0.3 miles
Demographics for 23456, VA
59,454
Population
22,071
Households
2.7
Avg Household Size
39
Median Age
46%
College-Educated
95%
High-School Grad
50.1 sq mi
ZIP Area
1,187
Density / Sq Mi
$128,403
Median Household Income
$58,827
Median Earnings
$1,928
Median Rent
$455,500
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 space available, totaling 17,857 square feet.
Where is this retail space located?
The property is located at 3705 3709 3717 Tiffany Lane Virginia Beach, VA.
What is the asking price?
The asking price for this property is $3,450,000.
What are key features of this property?
This property features: Retail Property; 17,857 SqFt
