Two-Tenant Shopping Center For
For Sale
$1,924,195
4336 Virginia Beach Boulevard, Virginia Beach, VA 23452
Two-tenant shopping center in high profile Pembroke/Thalia area.
Property Size5,150 SF
Lot Size0.40 Acres
Price / SF$373.63
Days on Market561
Property Features for 4336 Virginia Beach Boulevard
General Information
Standard status
Active
Size
5,150 SF
Lot size
0.40 Acres
Property subtype
Commercial/Industrial
Taxes and HOA fees
Annual Taxes
$18,119
Building Details
Year Built
1960
Listing Agency:
Corinth Realty LLC
(757) 702-1172
Listed By:
Petro Kotarides
Source:
Exitrealty
Added: Jan 27, 2025
Changed: Aug 8
Last Checked: Aug 11 at 6:38AM
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 Corinth Realty LLC
Investment Insights
Based on property information with market context.
This 5,150-square-foot shopping center is a two-tenant property located in the Pembroke/Thalia area. Situated on a major roadway, the property benefits from a turn lane and 4-way ingress/egress. A pylon sign is available.
Key Highlights
- Located in the high profile area of Pembroke/Thalia.
- Located on major roadway with turn lane & 4‑way ingress/egress.
- 2‑tenant shopping center.
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
$53,932
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
2.80%
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%
$1,078,640
$1.1M
Cap Rate 7%
$770,457
$770.5K
Cap Rate 9%
$599,244
$599.2K
Market Conditions
NOI Build-Up for 5,150 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
$80.3K $15.60/SF
− Vacancy
−$3.3K −$0.64/SF
EGI
$77.0K $14.96/SF
− OpEx
−$23.1K −$4.49/SF
NOI
$53.9K $10.47/SF
Area
ZIP 23452
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%
$1,078,640
Cap Rate 7%
$770,457
Cap Rate 9%
$599,244
Alternative Uses
Best Use
Retail
$770.5K
$674.2K – $898.9K
NOI $53,932 @ 7.0% cap · market cap 2.80%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.33M
$1.17M – $1.56M
NOI $93,442 @ 7.0% cap · market cap 4.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,058
Businesses Nearby
393k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 37%
Shops & Services 30%
Apparel 16%
Leisure 5%
Kohl's
Apparel
56,671 visits/mo
0.4 miles
Michaels
Shops & Services
44,344 visits/mo
0.3 miles
Barnes & Noble
Shops & Services
38,976 visits/mo
0.3 miles
Panera Bread
Dining
28,260 visits/mo
0.3 miles
Shake Shack
Dining
23,254 visits/mo
0.3 miles
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 Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Town Center Plaza at Downtown — 119 S Independence Blvd, Virginia Beach, VA 23462
- Thalia Village Shoppes — 190 Thalia Village Shoppes, Virginia Beach, VA 23452
- Town Center of Virginia Beach — 222 Central Park Ave, Virginia Beach, VA 23462
- The Town Center of Virginia Beach — 222 Central Park Ave, Virginia Beach, VA 23462
- Collins Square — 4001 Virginia Beach Blvd b120, Virginia Beach, VA 23452
Frequently Asked Questions
What type of property is this?
Shopping center - Two-tenant shopping center in high profile Pembroke/Thalia area.
Where is this shopping center located?
The property is located at 4336 Virginia Beach Boulevard Virginia Beach, VA.
What is the asking price?
The asking price for this property is $1,924,195.
What are key features of this property?
This property features: Located in the high profile area of Pembroke/Thalia.; Located on major roadway with turn lane & 4‑way ingress/egress.; 2‑tenant shopping center.
