Retail Business for Lease in Virginia Beach, VA

  • Price: Contact for price
  • Listing type: For lease
  • Asset type: Retail Business
  • Location: Virginia Beach, VA 23451

Description

Possible Owner/User Opportunity Footsteps Away From the Chesapeake Bay 3020 Shore Drive is a 4,100 SF building situated on 0.34 acres. Two suites totaling 2,045 SF are currently offered for lease, Suite B at 810 SF and Suite C at 1,235 SF. The property sits at a signalized intersection providing excellent visibility along Shore Drive, which experiences over 34,500 vehicles per day. It is steps from the newly constructed 22‑story Westminster Canterbury Senior Living Tower, featuring more than 200 units in addition to the original Westminster Canterbury building with another 200 units. Both building and pole signage opportunities are available for the owner/user or tenant. Please contact the listing agents for lease rate and sale pricing.

Market Context

This retail in Virginia Beach, VA is listed for lease. It has been on the market for 164 days. Compare it against other retail listings for lease in Virginia Beach, VA — <a href="/search/lease/retail/virginia/virginia-beach">view the full market</a>.

As of Q4 2023, the Hampton Roads retail market showed a 3.6% vacancy rate, average asking rents near $22.50/SF/yr, and cap rates around 6.6%. Source: Consensus Q4 2023 market report.

Tight vacancy keeps competition for quality space elevated.

Retail market FAQ

What is the typical cap rate for retail in Hampton Roads?
About 6.6% as of Q4 2023, per Consensus.
Is the Hampton Roads retail market tightening or softening?
Vacancy is around 3.6% (Q4 2023).

Unified Estimate

Medium Confidence

$1.60/SF/mo – $2.16/SF/mo

Mid: $1.88/SF/mo

Rate estimator only; cost-of-business estimate unavailable.

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