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    Property profile & analytics

    3208 Holland Rd Virginia Beach, VA 23453

    • Lifestyle centers
    • 63,500 SF
    For Lease
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • tobacco land vape & cigar / Tobacco Shop / Convenience Store
    • Food Lion / Grocery Store
    • Primo Water Refill & Exchange / Bottled Water Supplier
    • Rich Boyz Barber Shop CALL FOR APPOINTMENTS / Barber Shop
    • BK The Barber -Virginia Beach Barbershop (Rich Boyz) / Barber Shop / Hair Salon

    Property Details for 3208 Holland Rd

    Property size
    63,500 SF
    Property type
    Lifestyle centers
    Property subtype
    Power centers

    Description

    Buckner Plaza, a 63,500-square-foot shopping center in Virginia Beach, VA, offers exceptional retail space. Located at 3208 Holland Road (zip code 23453), this multi-tenant property boasts a prime location along Holland Road (32,000 AADT) and Shipps Corner Road (8,600 AADT). Currently, 10,954 square feet of retail space is available, divisible into units ranging from 1,579 to 9,375 contiguous square feet. The center is anchored by a Food Lion grocery store and benefits from its strategic position between Lynnhaven Mall (2.3 miles) and Landstown Commons (1.4 miles), two major regional retail destinations. Ample parking is provided with 265 spaces. This location in Virginia Beach City offers excellent fundamentals, including dense housing, major employers, and significant entertainment and sports venues nearby. The property presents a strong opportunity for businesses seeking high visibility and access to a thriving consumer base.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Virginia Beach
    County
    Virginia Beach City
    State
    Virginia
    Longitude
    -76.0799
    Latitude
    36.7934

    Comparable in this City

    • Value Estimation by Request
      33,147 SF

      2052 Independence Blvd

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      2052 Independence Blvd, Virginia Beach, VA 23453
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    • Value Estimation
      $515,000
      26,195 SF

      1401 Lynnhaven Pkwy

      MINI-MALL • 26,195 SF
      1401 Lynnhaven Pkwy, Virginia Beach, VA 23453-2241
      View Details
    • Value Estimation
      $260,000
      16,875 SF

      1505 Lynnhaven Pkwy, Unit 1351

      MINI-MALL • 16,875 SF
      1505 Lynnhaven Pkwy, Virginia Beach, VA 23453-2013
      View Details
    • Value Estimation
      $525,000
      12,940 SF

      3545 Buckner Blvd

      MINI-MALL • 12,940 SF
      3545 Buckner Blvd, Virginia Beach, VA 23453-5102
      View Details
    • Value Estimation
      $7,695,000
      11,970 SF

      2052 Independence Blvd Ste, Unit 8

      MINI-MALL • 11,970 SF
      2052 Independence Blvd Ste, Virginia Beach, VA 23453-4775
      View Details
    • Value Estimation
      $1,770,000
      11,700 SF

      1777 London Brg Rd Ste, Unit 201

      MINI-MALL • 11,700 SF
      1777 London Brg Rd Ste, Virginia Beach, VA 23453-3767
      View Details

    Similar Nearby for Sale

    • Contact for pricing
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    • $1,500,000
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      4.47 Acres

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    • $999,000

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    Similar Nearby for Lease

    • Contact for pricing
      63,500 SF

      Buckner Plaza Retail Center

      Virginia Beach shopping center, 10,954 SF available
      3208 Holland Rd, Virginia Beach, VA 23453
      View Details
    • $15 SF/Yr
      20,800 SF

      Virginia Beach Industrial Warehouse Space

      20,800 SF Warehouse, 4,400 SF Available
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    • Contact for pricing
      194,713 SF

      Holland Rd Outparcel Development Opportunity

      4.47 Acres, B-2 Zoning, Virginia Beach
      3264 Holland Rd, Virginia Beach, VA 23453
      View Details
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    3208 Holland Rd
    Virginia Beach, VA 23453
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    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
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