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    5020 Ferrell Pkwy Virginia Beach, VA 23464

    For Lease
    Contact for pricing

    Virginia Beach Retail Space Available

    Lot size:
    37,804 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    369
    Parkway Marketplace, a newly renovated retail center in Virginia Beach, offers exceptional opportunities for businesses seeking high-traffic locations. This Food Lion-anchored center boasts a prime location on heavily trafficked Ferrell Parkway (48,225 vehicles per day), placing your business in the heart of a densely populated area with high average household incomes. The center comprises 37,804 square feet and currently features two available spaces. A fully built-out 2,200 square foot salon space is ready for immediate occupancy, while a larger 11,202 square foot space (formerly occupied by Rite Aid) presents significant potential for customization. The minimum divisible space is 2,200 square feet, with a maximum contiguous space of 11,202 square feet. The center enjoys a diverse tenant mix, including national retailers such as Gamestop, GNC, Supercuts, and Chartway, alongside a variety of local businesses offering grocery, restaurant, salon, financial, and service options. High visibility is ensured through panel signage available on the Ferrell Parkway pylon. This is an exceptional opportunity to establish or expand your business in a thriving Virginia Beach retail environment. The property is located in Virginia Beach County. Currently, 13,402 square feet of space is vacant.

    Property Features for 5020 Ferrell Pkwy

    General Information

    Property type
    Retail properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    37,804 SF

    Unit(s) available at that property

    Space
    Space 6/7
    Size
    2,200 SF
    Space
    Suite 16
    Size
    11,202 SF

    HighLights

    • Retail property totaling 37,804 square feet with multiple tenancies.
    • 13,402 square feet of vacant space available, divisible into units ranging from 2,200 to 11,202 square feet.
    • Located in Virginia Beach County, anchored by Food Lion, and situated on high‑traffic Ferrell Parkway (48,225 VPD).
    • Features a 2,200 SF built‑out salon space and an 11,202 SF former Rite Aid space available for lease.
    • Strong tenant mix including national retailers such as Food Lion, GameStop, GNC, Supercuts, and Chartway, with pylon signage opportunities on Ferrell Parkway.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    7 Cities Inspections Home Inspector Coinstar Kiosk | Bitcoin ... Atm Franchise Connector Investment Service New Number 1 ... Chinese Restaurant Mel's Place Bar & Grill

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Grocery Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Virginia Beach
    County
    Virginia Beach
    State
    Virginia
    Longitude
    -76.1647881
    Latitude
    36.7945411

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    FAQs

    What type of property is this?
    Retail property - Virginia Beach Retail Space Available
    Where is this retail property located?
    The property is located at 5020 Ferrell Pkwy Virginia Beach, VA.
    What are key features of this property?
    This property features: Retail property totaling 37,804 square feet with multiple tenancies.; 13,402 square feet of vacant space available, divisible into units ranging from 2,200 to 11,202 square feet.; Located in Virginia Beach County, anchored by Food Lion, and situated on high-traffic Ferrell Parkway (48,225 VPD).
    Request Owner's contact information
    5020 Ferrell Pkwy Virginia Beach, VA 23464
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    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.

    Geo

    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
    5020 Ferrell Pkwy Virginia Beach, VA 23464
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