Office-Retail Mixed-Use
6041 Indian River Road, Virginia Beach, VA 23464
For Sale
Contact for pricing
The commercial property is identified for both office and retail use.
Property Size1,961 SF
Price / SF$381.95
Days on Market50
Property Features for 6041 Indian River Road
General Information
Standard status
Size
Property subtype
Building Details
Building Size
Listing Agency:
Mid Atlantic Commercial
Listed By:
Jonathan Guion · License VA #0226007065
(757) 620-2932
Source:
Crexi
Added: Sep 21
Changed: Nov 3
Last Checked: Nov 8 at 6:33AM
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 Mid Atlantic Commercial
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Investment Insights
Based on property information with market context.
This 1,961-square-foot commercial building is identified for office and retail use. The property is at 6041 Indian River Road in Virginia Beach, Virginia.
Key Highlights
- 1,961‑square‑foot commercial building for office and retail use
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,868
Cap Rate
4.12%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$617,360
$617.4K
Cap Rate 7%
$440,971
$441.0K
Cap Rate 9%
$342,978
$343.0K
Market Conditions
NOI Build-Up for 1,961 SF
Gross rent
$51.8K $26.40/SF
− Vacancy
−$10.6K −$5.41/SF
EGI
$41.2K $20.99/SF
− OpEx
−$10.3K −$5.25/SF
NOI
$30.9K $15.74/SF
Area
ZIP 23464
Vacancy
20.50%
Lease Rate
$26.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$617,360
Cap Rate 7%
$440,971
Cap Rate 9%
$342,978
Alternative Uses
Best Use
Office B
$441.0K
$385.9K – $514.5K
NOI $30,868 @ 7.0% cap · market cap 4.12%
Second Best
Mixed Use
$340.4K
$297.8K – $397.1K
NOI $23,826 @ 7.0% cap · market cap 3.18%
Theoretical Best
Office A
$613.7K
$537.0K – $716.0K
NOI $42,960 @ 7.0% cap · market cap 5.74%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
568
Businesses Nearby
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Business Placement
Demographics for 23464, VA
75,118
Population
29,267
Households
2.6
Avg Household Size
38
Median Age
38%
College-Educated
94%
High-School Grad
16.7 sq mi
ZIP Area
4,498
Density / Sq Mi
$89,790
Median Household Income
$49,794
Median Earnings
$1,644
Median Rent
$339,300
Median Home Value
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Mixed-use property - The commercial property is identified for both office and retail use.
Where is this mixed-use property located?
The property is located at 6041 Indian River Road Virginia Beach, VA.
What is the asking price?
The asking price for this property is $749,000.
What are key features of this property?
This property features: 1,961‑square‑foot commercial building for office and retail use
