Industrial Property on 7.5
For Sale
Contact for pricing
5400 Virginia Beach Boulevard, Virginia Beach, VA 23462
Two warehouses on 7.5 acres, ideal for industrial use.
Property Size115,325 SF
Lot Size7.50 Acres
Price / SF$123
Days on Market99
Property Features for 5400 Virginia Beach Boulevard
General Information
Standard status
Active
Size
115,325 SF
Lot size
7.50 Acres
Property subtype
Industrial
Zoning
I-1 (Light Industrial)
Investment Type
Redevelopment
Building Details
Year Built
1965
Buildings
2
Tenancy
Multi
Listing Agency:
S.L. Nusbaum Realty Co
Listed By:
Stephanie Sanker CCIM SIOR · License #VA 0225054336
Source:
Crexi
Added: May 20
Changed: Aug 8
Last Checked: Aug 8 at 3:16PM
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 S.L. Nusbaum Realty Co
Investment Insights
Based on property information with market context.
The industrial property at 5400 Virginia Beach Blvd features two warehouses on 7.5 acres. It is located just off Virginia Beach Boulevard in the heart of the business district, approximately two miles from the Virginia Beach Town Center. The property is suitable for industrial use and also presents a redevelopment opportunity. The property size is 115325 square feet.
Key Highlights
- Prime location off Virginia Beach Boulevard in the business district.
- Large 7.5‑acre property.
- Two warehouses included.
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
$917,561
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
6.42%
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%
$18,351,220
$18.4M
Cap Rate 7%
$13,108,014
$13.1M
Cap Rate 9%
$10,195,122
$10.2M
Market Conditions
NOI Build-Up for 115,325 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
$1.12M $9.72/SF
− Vacancy
−$41.5K −$0.36/SF
EGI
$1.08M $9.36/SF
− OpEx
−$161.9K −$1.40/SF
NOI
$917.6K $7.96/SF
Area
ZIP 23462
Vacancy
3.70%
Lease Rate
$9.72 /SF/Yr
Expense Ratio
15.00%
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%
$18,351,220
Cap Rate 7%
$13,108,014
Cap Rate 9%
$10,195,122
Alternative Uses
Best Use
Warehouse
$13.11M
$11.47M – $15.29M
NOI $917,561 @ 7.0% cap · market cap 6.42%
Second Best
Industrial
$10.79M
$9.45M – $12.59M
NOI $755,638 @ 7.0% cap · market cap 5.28%
Theoretical Best
Office A
$24.49M
$21.43M – $28.57M
NOI $1,714,486 @ 7.0% cap · market cap 11.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,278
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 23462, VA
68,045
Population
29,729
Households
2.3
Avg Household Size
34
Median Age
31%
College-Educated
94%
High-School Grad
11.0 sq mi
ZIP Area
6,186
Density / Sq Mi
$69,680
Median Household Income
$43,613
Median Earnings
$1,652
Median Rent
$269,400
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Runnymede Corporation — 5198 Cleveland Pl # A, Virginia Beach, VA 23462
- CubeSmart Self Storage — 5198a Cleveland St, Virginia Beach, VA 23462
- The Moto Lodge — 248 Pennsylvania Ave, Virginia Beach, VA 23462
- Public Storage — 5529 Virginia Beach Blvd, Virginia Beach, VA 23462
- StorageMart — 617 Baker Rd, Virginia Beach, VA 23462
Frequently Asked Questions
What type of property is this?
Warehouse - Two warehouses on 7.5 acres, ideal for industrial use.
Where is this warehouse located?
The property is located at 5400 Virginia Beach Boulevard Virginia Beach, VA.
What is the asking price?
The asking price for this property is $14,300,000.
What are key features of this property?
This property features: Prime location off Virginia Beach Boulevard in the business district.; Large 7.5‑acre property.; Two warehouses included.
