Two-Tenant Retail
6035 E Virginia Beach Blvd Norfolk, VA 23502
For Sale
Contact for pricing
Retail storefront offering a simple two-tenant configuration in Norfolk, Virginia.
Property Size16,325 SF
Price / SF$124.84
Days on Market76
Property Features for 6035 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:
Maxwell Lippitt · License #6501378141
(248) 488-2620
Source:
Moodyscre
Added: May 15
Changed: Jul 27
Last Checked: Jul 28 at 3:22PM
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.
For sale, this retail space is configured as a simple two-tenant storefront property totaling 16,325 square feet, located at 6035 E Virginia Beach Blvd in Norfolk, Virginia (23502). The straightforward layout supports shared ownership and management with two operating tenants.
The property’s retail use is presented as part of a competitive retail positioning strategy, and the offering is described as having an attractive under-market rental profile. In addition, the public remarks note strong durability and value creation tied to the current income structure.
Overall, this is a retail storefront investment designed around a two-tenant configuration, offering a focused unit count rather than a larger, more complex tenant mix.
The property’s retail use is presented as part of a competitive retail positioning strategy, and the offering is described as having an attractive under-market rental profile. In addition, the public remarks note strong durability and value creation tied to the current income structure.
Overall, this is a retail storefront investment designed around a two-tenant configuration, offering a focused unit count rather than a larger, more complex tenant mix.
Key Highlights
- Retail storefront in Norfolk, Virginia with a simple two‑tenant configuration
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 authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Retail space - Retail storefront offering a simple two-tenant configuration in Norfolk, Virginia.
Where is this retail space located?
The property is located at 6035 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: Retail storefront in Norfolk, Virginia with a simple two‑tenant configuration
