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    5129 Virginia Beach Blvd Virginia Beach, VA 23462
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    Property profile & analytics

    5129 Virginia Beach Blvd, Virginia Beach, VA 23462

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    • Retail space
    • 35,275 SF
    • 1.26 lot acres
    For Lease
    $3,520,000
    View Listing →
    Retail Space on Virginia Beach For Lease
    $3,520,000

    Retail Space on Virginia Beach

    Retail space with high visibility near Virginia Beach Town Center.

    5129 Virginia Beach Blvd, Virginia Beach, VA 23462
    View Listing
    Property ID
    US87-3818803
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Grand Furniture Outlet / Furniture & Home Goods / Home Decor Store
    • Ashley Outlet / Furniture & Home Goods
    • Credit Repair Virginia Beach VA / Financial Advisor

    Property Details for 5129 Virginia Beach Blvd

    Year built
    1984
    Lot size
    1.26 lot acres
    Zone code
    B2
    Property type
    Retail space
    APN
    14678519430000
    APU
    14678519430000

    Description

    This exceptional retail or restaurant opportunity is located at 5129 Virginia Beach Boulevard in Virginia Beach, Virginia, zip code 23462. The property boasts a total of 35,860 square feet, with a single suite currently available, offering a minimum of 7,560 square feet. The flexible space is ideal for a variety of commercial uses. This prime location offers excellent visibility on a busy thoroughfare, just west of the Virginia Beach Town Center. The property benefits from its proximity to established and successful businesses, including Haynes Furniture, Walmart, Wegman's, and Restaurant Depot, ensuring high foot traffic and brand recognition. The suite's size is adaptable, potentially accommodating expansion needs. The county is Virginia Beach city. This is a multi-tenant building, offering a vibrant and dynamic commercial environment. The address is easily accessible and well-suited for attracting a diverse customer base. The available space presents a unique chance to establish or expand a business in a thriving commercial area. The property is situated at 36.8456827 latitude and -76.158357 longitude.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Virginia Beach
    County
    Virginia Beach City
    State
    Virginia
    Longitude
    -76.1581
    Latitude
    36.8458
    CBSA code
    47260
    CBSA name
    VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $29,503
    $1,365,500
    $1,614,600
    $2,980,100
    -
    $1,365,500
    $1,614,600
    $2,980,100

    Comparable in this City

    • Value Estimation
      $2,345,000
      14,348 SF

      4500 Virginia Bch Blvd

      RETAIL STORES (PERSONAL SERVICES)
      4500 Virginia Bch Blvd, Virginia Beach, VA 23462-3004
      View Details
    • Value Estimation
      $6,520,000
      41,712 SF

      1000 Cpa

      RETAIL STORES (PERSONAL SERVICES)
      1000 Cpa, Virginia Beach, VA 23462
      View Details
    • Value Estimation
      $1,800,000
      11,052 SF

      5795 Princess Anne Rd

      RETAIL STORES (PERSONAL SERVICES)
      5795 Princess Anne Rd, Virginia Beach, VA 23462-3224
      View Details
    • Value Estimation
      $855,000
      6,440 SF

      5461 Virginia Bch Blvd

      RETAIL STORES (PERSONAL SERVICES)
      5461 Virginia Bch Blvd, Virginia Beach, VA 23462-1743
      View Details
    • Value Estimation
      $600,000
      1,584 SF

      4968 Virginia Bch Blvd

      RETAIL STORES (PERSONAL SERVICES)
      4968 Virginia Bch Blvd, Virginia Beach, VA 23462-2622
      View Details
    • Value Estimation
      $1,720,000
      11,139 SF

      5327 Virginia Bch Blvd

      RETAIL STORES (PERSONAL SERVICES)
      5327 Virginia Bch Blvd, Virginia Beach, VA 23462-1889
      View Details

    Similar Nearby for Sale

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      Mixed-Use Town Center Development

      Town Center in Virginia Beach anchors a dense live-work-play market with hotels, residences, and major daily employment.
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      22,800 SF

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      Retail property with high traffic volume near I-264.
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    Similar Nearby for Lease

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      1,400 SF

      Retail Space in Timberlake Center

      Retail space available in neighborhood shopping center.
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      Retail Space Near Mount Trashmore

      Retail space with great visibility near Mount Trashmore.
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      2,254 SF

      Retail Space in Town Center

      Prime retail space in a vibrant, high-traffic area.
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      15,000 SF

      Virginia Beach Retail Space Available

      Retail space available in a high-traffic Virginia Beach location.
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      Retail Space in Town Center

      Retail space available in Virginia Beach's Town Center.
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      2,633 SF

      Retail Space on Newtown Road

      Retail space with high traffic and ample parking.
      528 Newton Rd, Virginia Beach, VA 23462
      View Details
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    Virginia Beach, VA 23462
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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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