Leased Retail Shopping
For Sale
Contact for pricing
6361 Indian River Road, Virginia Beach, VA 23464
Kings Creek Shoppes is a 100% leased retail center totaling 13,670 SF.
Property Size13,670 SF
Price / SF$190.20
Days on Market131
Property Features for 6361 Indian River Road
General Information
Standard status
Active
Size
13,670 SF
Property subtype
Retail
Occupancy
100%
Lease Type
NNN
Net Operating Income
$209,079
Building Details
Year Built
2008
Units
9
Tenancy
Multi
Listing Agency:
Sands Investment Group - FTL
Listed By:
Grant Mogerman · License #SL 3557734
Source:
Crexi
Added: Apr 28
Changed: Aug 24
Last Checked: Sep 3 at 1:38AM
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 Sands Investment Group - FTL
Investment Insights
Based on property information with market context.
Kings Creek Shoppes is a retail shopping center offered for sale as a fully leased asset. The property totals 13,670 SF and is presented as 100% occupied, providing in-place retail income.
The center is located at 6361–6365 Indian River Road in Virginia Beach, Virginia Beach, VA 23464.
This offering is being marketed for investors seeking a secured retail investment supported by the stated strong in-place income and an attractive cap rate.
The center is located at 6361–6365 Indian River Road in Virginia Beach, Virginia Beach, VA 23464.
This offering is being marketed for investors seeking a secured retail investment supported by the stated strong in-place income and an attractive cap rate.
Key Highlights
- 100% leased retail center totaling 13,670 SF (Kings Creek Shoppes)
- 13,670 SF retail center located at 6361‑6365 Indian River Road, Virginia Beach, VA
- Year built: 2008
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
$143,156
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
5.51%
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%
$2,863,120
$2.9M
Cap Rate 7%
$2,045,086
$2.0M
Cap Rate 9%
$1,590,622
$1.6M
Market Conditions
NOI Build-Up for 13,670 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
$213.3K $15.60/SF
− Vacancy
−$8.7K −$0.64/SF
EGI
$204.5K $14.96/SF
− OpEx
−$61.4K −$4.49/SF
NOI
$143.2K $10.47/SF
Area
ZIP 23464
Vacancy
4.10%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
30.00%
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%
$2,863,120
Cap Rate 7%
$2,045,086
Cap Rate 9%
$1,590,622
Alternative Uses
Best Use
Retail
$2.05M
$1.79M – $2.39M
NOI $143,156 @ 7.0% cap · market cap 5.51%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.28M
$3.74M – $4.99M
NOI $299,471 @ 7.0% cap · market cap 11.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
750
Businesses Nearby
91k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 46%
Apparel 21%
Shops & Services 16%
Dining 14%
Food Lion Grocery Store
Groceries
25,684 visits/mo
0.2 miles
Burlington
Apparel
19,239 visits/mo
0.2 miles
Lidl
Groceries
16,465 visits/mo
0.4 miles
Dunkin' Donuts
Dining
7,642 visits/mo
0.4 miles
7-Eleven
Shops & Services
6,384 visits/mo
0.2 miles
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
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Shopping center - Kings Creek Shoppes is a 100% leased retail center totaling 13,670 SF.
Where is this shopping center located?
The property is located at 6361 Indian River Road Virginia Beach, VA.
What is the asking price?
The asking price for this property is $2,600,000.
What are key features of this property?
This property features: 100% leased retail center totaling 13,670 SF (Kings Creek Shoppes); 13,670 SF retail center located at 6361‑6365 Indian River Road, Virginia Beach, VA; Year built: 2008
