Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    5002 Century Dr Virginia Beach, VA 23462

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Duplex in Virginia Beach, remodeled unit, tenant occupied.

    Property Features for 5002 Century Dr

    General Information

    Standard status
    Active
    Exterior features
    Asphalt Shingle

    Building Details

    Year built
    1973

    We can help!

    Listing Contact
    Beth Tignor
    Source: Kw

    Listing Agent: Beth Tignor

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Virginia Beach Duplex Opportunity

    This duplex in Virginia Beach presents an opportunity for an owner, landlord, or investor. One side was completely remodeled in 2023 and is tenant-occupied through April 2026. The other side is vacant. Both sides of the duplex offer one-level living and include a garage. The property features a generous lot size and a wooded area.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Virginia Beach
    County
    Virginia Beach
    State
    Virginia
    Longitude
    -76.153979
    Latitude
    36.8264142

    Nearby Similar for Sale

    • $975,000
      4,500 SF

      Oceanfront Golf Cart Rental Business

      Turnkey golf cart rental and sales business in Virginia Beach.
      1804 Arctic Ave, Virginia Beach, VA 23451
      View Details
    • $534,900
      960 SF

      Versatile Showroom/Office Space For Sale

      Single-story showroom/office space with high traffic exposure in Virginia Beach.
      2640 Virginia Beach Blvd, Virginia Beach, VA 23452
      View Details
    • $359,900
      1,988 SF

      Commercial Space with Versatile Layout

      High-visibility commercial location suited for retail or office use.
      5759 Princess Anne Rd, Virginia Beach, VA 23462
      View Details
    • $500,000
      3,700 SF

      Versatile Flex Condo with Warehouse

      3,700 SF flex condo with office and warehouse space.
      1728 Virginia Beach Blvd, Virginia Beach, VA 23454
      View Details
    • $850,000
      2,097 SF

      Commercial Property on Virginia Beach Blvd

      Freestanding commercial building with high visibility and redevelopment potential.
      3794 Virginia Beach Blvd, Virginia Beach, VA 23452
      View Details
    • $310,000
      1,149 SF

      Office Space on Independence Boulevard

      Office space available for purchase on Independence Boulevard.
      1137 Independence Blvd, Virginia Beach, VA 23455
      View Details
    • $3,500,000
      6,200 SF

      EV Dealership on Virginia Beach Blvd

      Thriving EV dealership with retail, service, and rental operations.
      1765 Virginia Beach Blvd, Virginia Beach, VA 23454
      View Details
    • $1,200,000
      4,920 SF

      Virginia Beach Quadruplex Investment Opportunity

      Rare side-by-side quadruplex near Oceana Naval Air Station.
      315 Roselynn Ln, Virginia Beach, VA 23454
      View Details
    • $10,400,000
      29,590 SF

      Virginia Beach Townhome Portfolio

      Twelve townhomes near the beach and upcoming Atlantic Park development.
      2007 Baltic Ave, Virginia Beach, VA 23451
      View Details
    • $125,000
      1,100 SF

      Commercial Kitchen For Sale

      Commissary kitchen suitable for catering and food preparation.
      3322 Virginia Beach Blvd, Virginia Beach, VA 23452
      View Details
    • $1,150,000
      5,500 SF

      Virginia Beach Multi-Use Building

      Multi-use building near the Interstate with updated features and ample parking.
      121 Landmark Sq, Virginia Beach, VA 23452
      View Details
    • $260,000

      Waterfront RV Oasis in Virginia Beach

      Waterfront RV property near amenities and the Atlantic Ocean.
      3665 Sandpiper Rd, Virginia Beach, VA 23456
      View Details

    FAQs

    What type of property is this?
    Duplex - Duplex in Virginia Beach, remodeled unit, tenant occupied.
    Where is this duplex located?
    The property is located at 5002 Century Dr Virginia Beach, VA.
    What are key features of this property?
    This property features: - Duplex in Virginia Beach presents investment opportunity.; - Remodeled unit (2023) provides immediate rental income.; - Vacant unit offers customization potential.
    Request Owner's contact information
    5002 Century Dr Virginia Beach, VA 23462
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    5002 Century Dr
    Virginia Beach, VA 23462
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    5002 Century Dr Virginia Beach, VA 23462
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Beth Tignor
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!