Operative Hotel with Parking
410 21st Street, Virginia Beach, VA 23451
For Sale
$5,000,000
Commercial/Industrial, Virginia Beach, VA
Property Size46,260 SF
Lot Size0.77 Acres
Price / SF$108.08
Days on Market205
Property Features for 410 21st Street
General Information
Property type
Property subtype
Zoning
Subdivision
Standard status
Size
Lot size
Additional Details
Currently Operating
Taxes and HOA fees
Tax Annual Amount
Utilities
Heating system
Cooling system
Building Details
Year built
Listing Agency:
Prodigy Realty
(757) 805-2515
Listed By:
Karen Tyler
(757) 636-5187
Added: Apr 20
Changed: Nov 6
Last Checked: Nov 10 at 5:06PM
MLS# 10630762
Copyright © 2026 Real Estate Information Network, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This operative hotel property contains 46,260 square feet on a 0.77-acre site. Built in 1974, the building is served by natural gas and forced-air heating along with central air conditioning. The RT3 zoning designation is included in the property information.
The sale includes the hotel at 410 21st Street and the parking lot at 405 20th Street in Virginia Beach. The property is near The Dome, Atlantic Park, and the beach, with convenient access to the interstate.
The sale includes the hotel at 410 21st Street and the parking lot at 405 20th Street in Virginia Beach. The property is near The Dome, Atlantic Park, and the beach, with convenient access to the interstate.
Key Highlights
- 46,260‑square‑foot hotel property on 0.77 acres
- Operative hotel asset built in 1974
- Sale includes parking lot at 405 20th Street
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$348,060
Cap Rate
6.96%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,961,200
$7.0M
Cap Rate 7%
$4,972,286
$5.0M
Cap Rate 9%
$3,867,333
$3.9M
Market Conditions
NOI Build-Up for 46,260 SF
Gross rent
$832.7K $18.00/SF
− Vacancy
−$99.9K −$2.16/SF
EGI
$732.8K $15.84/SF
− OpEx
−$384.7K −$8.32/SF
NOI
$348.1K $7.52/SF
Area
Virginia Beach, VA
Vacancy
12.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
52.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,961,200
Cap Rate 7%
$4,972,286
Cap Rate 9%
$3,867,333
Alternative Uses
Best Use
Hotel Hospitality
$4.97M
$4.35M – $5.80M
NOI $348,060 @ 7.0% cap · market cap 6.96%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$11.87M
$10.38M – $13.84M
NOI $830,699 @ 7.0% cap · market cap 16.61%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,398
Businesses Nearby
Explore this area
Business Placement
Demographics for 23451, VA
44,879
Population
24,897
Households
1.8
Avg Household Size
41
Median Age
57%
College-Educated
97%
High-School Grad
19.8 sq mi
ZIP Area
2,267
Density / Sq Mi
$97,945
Median Household Income
$57,472
Median Earnings
$1,697
Median Rent
$591,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Frequently Asked Questions
What type of property is this?
Hotel - Operating hotel property with an accompanying parking lot near the beach, Atlantic Park, The Dome, and interstate access.
Where is this hotel located?
The property is located at 410 21st Street Virginia Beach, VA.
What is the asking price?
The asking price for this property is $5,000,000.
What are key features of this property?
This property features: 46,260‑square‑foot hotel property on 0.77 acres; Operative hotel asset built in 1974; Sale includes parking lot at 405 20th Street
