Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    5020 Ferrell Parkway Virginia Beach, VA 23464

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Food Lion anchored shopping center in central Virginia Beach.

    Type:Retail
    Added:
    Dec 7, 2020
    Days on Market:
    1969
    Last Refresh:
    Mar 17 at 1:17 pm

    Property Features for 5020 Ferrell Parkway

    General Information

    Standard status
    Active
    Property subtype
    Retail

    Spaces For Lease

    at 5020 Ferrell Parkway Contact us

    We can help!

    Listing Contact
    Kris Fuller

    Listing agent Kris Fuller License #VA

    Listing office Divaris Real Estate Inc

    Listing date Dec 7, 2020

    Source Crexi

    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 Divaris Real Estate Inc

    Overview

    Renovated Retail Center on Parkway

    Parkway Marketplace is a newly renovated shopping center anchored by Food Lion. The center fronts heavily trafficked Ferrell Parkway, which sees 48,225 vehicles per day. Located in the heart of densely populated central Virginia Beach, the property benefits from attractive population counts and high average household income. The tenant mix includes grocery, restaurants, salons, financial services, and other service-oriented businesses.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    7 Cities Inspections Home Inspector Coinstar Kiosk | Bitcoin ... Atm Franchise Connector Financial Advisor New Number 1 ... Restaurant Mel's Place Bar & Pub

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

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

    Similar Places Nearby

    • Parkway Marketplace — 5004 Ferrell Pkwy, Virginia Beach, VA 23464
    • Shoppes At Lake James — 5347 Lila Ln, Virginia Beach, VA 23464
    • Coinstar Kiosk | Bitcoin ATM — Food Lion, 5020 Ferrell Pkwy, Virginia Beach, VA 23464
    • Indian Square Shopping Center — 5313 Indian River Rd, Virginia Beach, VA 23464
    • Coinstar Kiosk | Bitcoin ATM — Harris Teeter, 5060 Ferrell Pkwy, Virginia Beach, VA 23464

    Location Insight

    • Map
    • Local Demand
    City
    Virginia Beach
    County
    Virginia Beach
    State
    Virginia
    Longitude
    -76.1655574
    Latitude
    36.7946699

    Nearby Similar for Lease

    • $1,700/Mo

      Great Neck Plaza Flex Space

      First-floor suite in Great Neck Plaza with flexible space.
      2232 W Great Neck Road, Virginia Beach, VA 23451
      View Details
    • $1,600/Mo

      Office Space in Busy Center

      Available office space in a convenient Virginia Beach location.
      5405 Indian River Road, Virginia Beach, VA 23464
      View Details
    • $18 SF/Yr

      Virginia Beach Retail Space Available

      Retail space with open floor plan in Virginia Beach.
      3912 Bonney Road, Virginia Beach, VA 23452
      View Details
    • $20 SF/Yr

      Customizable Class A Office Space

      Prime Virginia Beach location, tailor to your business needs.
      4420 Expressway Drive, Virginia Beach, VA 23452
      View Details
    • $1,625/Mo

      Versatile Office/Flex Space Available

      Modern office and warehouse space with versatile layouts for rent.
      464-468 S Independence & 4480-4520 Holland Office Park, Virginia Beach, VA 23450
      View Details
    • $600/Mo

      Office Space with Flexible Leases

      Office building with all inclusive options and short-term leases.
      5250 Challedon Drive, Virginia Beach, VA 23462
      View Details
    • $15 SF/Yr

      Office Space on Laskin Road

      Office space for lease with prime highway access.
      1213 Laskin Road, Virginia Beach, VA 23451
      View Details
    • Sponsored
      Contact for pricing

      VA, Virginia Beach - Constitution Dr

      2 Constitution Dr, Virginia Beach, VA 23462
      View Details
    • $1,400/Mo

      Office Space Near Lynnhaven Parkway

      Office space with prime access to amenities and I-264.
      800 Seahawk Circle, Suite 118, Virginia Beach, VA 23452
      View Details
    • Contact for pricing

      Lynnhaven

      780 Lynnhaven Pkwy, Unit 400, Virginia Beach, VA 23452
      View Details
    • $1,625/Mo

      Versatile Office/Flex Space in Virginia Beach

      Modern office/flex space with convenient access and ample parking.
      464-468 S Independence & 4480-4520 Holland Office Park, Virginia Beach, VA 23450
      View Details
    • $17 SF/Yr

      Medical Office Space For Lease

      Second generation medical office space near Sentara Independence campus.
      816 Independence Blvd, Virginia Beach, VA 23455
      View Details

    FAQs

    What type of property is this?
    Shopping center - Food Lion anchored shopping center in central Virginia Beach.
    Where is this shopping center located?
    The property is located at 5020 Ferrell Parkway Virginia Beach, VA.
    What are key features of this property?
    This property features: Anchored by Food Lion, a major grocery tenant.; Located on heavily trafficked Ferrell Parkway (48,225 VPD).; Situated in densely populated central Virginia Beach.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Kris Fuller
    Real Estate License ID: VA
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!