Red Mill Commons & Walk, a 370,456 square foot regional power center in Virginia Beach's Red Mill submarket, presents a unique investment opportunity. This well-maintained, established shopping center boasts 91 suites, with 16,296 square feet currently vacant, divisible to a minimum of 1,000 square feet and up to 30,000 contiguous square feet. Anchored by Walmart, Target, and Home Depot, and featuring junior anchors including TJ Maxx, Michaels, Five Below, Dollar Tree, and HomeGoods, the center benefits from a strong tenant mix that includes popular dining establishments like Blue Seafood, Only at Renee's, Tida Thai, and Flip Flops Bar & Grill, as well as fitness centers such as Cyclebar, Burn Boot Camp, and Fat Frogs Bicycles. Situated on 100 acres of commercially zoned land and built in 2001, the property enjoys a prime location near major employers such as Oceana Naval Air Station, Virginia Beach Municipal Center, Camp Pendleton, and Corporate Landing Office Park. The center also benefits from its proximity to Sandbridge Beaches, attracting over one million tourists annually. The surrounding area features an affluent community with average household incomes exceeding $100,000, a dense residential population, and numerous area schools, creating a robust and stable market. Cross Street is Upton Dr. This is an exceptional opportunity to acquire a thriving retail property in a high-demand location.
Property Features for 1169 Nimmo Pkwy
General Information
Property type
Individual retail properties
Lease Type
Gross Lease
RSF (Rentable sq. ft)
370,456 SF
Total Rate
771783.33
Building Details
Year Built
2001
Unit(s) available at that property
Space
Former Karate Studio
Size
1,600 SF
Rate per SF
$25
Space
Retail Space next to Rack Room Shoes
Size
2,150 SF
Rate per SF
$25
Space
Former Hair Salon
Size
1,600 SF
Space
Former Petco
Size
4,800 SF
Rate per SF
$25
Space
Former Rose & Womble
Size
1,600 SF
Space
Former Verizon Store
Size
2,700 SF
Rate per SF
$25
HighLights
Retail property totaling 370,456 square feet, situated on 100 acres.
Multiple tenancy with 91 suites, minimum divisible space of 1,000 square feet, and a maximum contiguous space of 30,000 square feet; 16,296 square feet currently vacant.
Located in the Red Mill submarket of Virginia Beach, near Upton Dr, with Commercial zoning. Built in 2001.
Anchored by Walmart, Target, and Home Depot, with junior anchors including TJ Maxx, Michaels, Five Below, Dollar Tree, and HomeGoods.
Serves an affluent community with average household incomes exceeding $100,000, a dense residential population, and numerous area schools, benefiting from high tourist traffic during peak seasons.
Individual retail property - Prime Retail Center, Virginia Beach
Where is this individual retail property located?
The property is located at 1169 Nimmo Pkwy Virginia Beach, VA.
What is the lease rate?
The lease rate is $0.00-$25 SF/Yr.
What are key features of this property?
This property features: Retail property totaling 370,456 square feet, situated on 100 acres.; Multiple tenancy with 91 suites, minimum divisible space of 1,000 square feet, and a maximum contiguous space of 30,000 square feet; 16,296 square feet currently vacant.; Located in the Red Mill submarket of Virginia Beach, near Upton Dr, with Commercial zoning. Built in 2001.
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1169 Nimmo Pkwy Virginia Beach, VA 23456
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Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.
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Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.
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Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels
across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.
Alternative use
Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.
More about this property
1169 Nimmo Pkwy Virginia Beach, VA 23456
More about this listing
1169 Nimmo Pkwy, Virginia Beach, VA
Samantha Ogden
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1169 Nimmo Pkwy, Virginia Beach, VA
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1169 Nimmo Pkwy, Virginia Beach, VA
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1169 Nimmo Pkwy, Virginia Beach, VA
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1169 Nimmo Pkwy, Virginia Beach, VA
Samantha Ogden
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