Two-Tenant Retail
6029 E Virginia Beach Blvd Norfolk, VA 23502
6029 E Virginia Beach Blvd, Norfolk, VA, 23502
Contact for pricing
For Sale
Contact for pricing
Stabilized retail property with two tenants and 100% occupancy, generating in-place net operating income.
Property Size16,325 SF
Price / SF$124.84
Days on Market112
Property Features for 6029 E Virginia Beach Blvd
General Information
- Standard status
- Active
- Size
- 16,325 SF
- Property subtype
- Retail
Listing agency
Landmark Commercial Real Estate Services
(248) 488-2620
Listed by
Daniel Kukes · License #MI 6502361395
Source
Crexi
Added: Apr 1 Updated: Jul 20 at 5:38PM Checked: Jul 21 at 9:30AM
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 Landmark Commercial Real Estate Services
Investment Insights
Based on property information with market context.
This stabilized, two-tenant retail investment is offered for sale and is currently 100% leased. The property comprises 16,325 square feet of retail space and is producing approximately $147,750 of in-place net operating income.
The asset is positioned along Virginia Beach Boulevard, providing visibility and convenient access. The surrounding area includes retailers, healthcare providers, and employment centers within the Hampton Roads region.
With a simple two-tenant structure and current occupancy, the property is designed for investors seeking durable, immediately generating income from a retail asset.
The asset is positioned along Virginia Beach Boulevard, providing visibility and convenient access. The surrounding area includes retailers, healthcare providers, and employment centers within the Hampton Roads region.
With a simple two-tenant structure and current occupancy, the property is designed for investors seeking durable, immediately generating income from a retail asset.
Key Highlights
- Stabilized two‑tenant retail investment at 6029–6035 E. Virginia Beach Boulevard in Norfolk, VA
- 16,325 SF retail property is 100% leased with two tenants
- In‑place Net Operating Income of approximately $147,750
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $278.2k | $17.04 |
| − Vacancy | −$13.4k | −$0.82 |
| EGI | $264.8k | $16.22 |
| − OpEx | −$79.4k | −$4.87 |
| NOI | $185.4k | $11.36 |
16,325 SF · lease $17.04/SF/yr · vacancy 4.80% · expense 30.00%
Alternative Uses
Best Use
Retail
$2.65M
$2.32M – $3.09M
NOI $185,378 @ 7.0% cap · market cap 9.10%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.46M
$3.03M – $4.04M
NOI $242,418 @ 7.0% cap · market cap 11.90%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Audio Light & Music
(Bike/Boat/Book/etc) Store
Similar For Sale Nearby
FAQs
What type of property is this?
Retail space - Stabilized retail property with two tenants and 100% occupancy, generating in-place net operating income.
Where is this retail space located?
The property is located at 6029 E Virginia Beach Blvd Norfolk, VA.
What is the asking price?
The asking price for this property is $2,037,959.
What are key features of this property?
This property features: Stabilized two‑tenant retail investment at 6029–6035 E. Virginia Beach Boulevard in Norfolk, VA; 16,325 SF retail property is 100% leased with two tenants; In‑place Net Operating Income of approximately $147,750
