Colliers Represents Seller In $8.6M Sale Of Lynnhaven Square Retail Center In Virginia Beach
2077 Lynnhaven Parkway & 2085 Lynnhaven Parkway
$8,600,000
$9/SF
Building Size
450,000 SF
Asset Type
Retail
Closing
Jul 29, 2025
About this deal
AI
The property involved in this transaction is a fully leased retail center located at 2077-2085 Lynnhaven Parkway, Virginia Beach, VA. The asset has a sale price of $8,600,000 and encompasses a total of 450,000 square feet, resulting in a price per square foot of $19.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $8,600,000
- Address: 2077-2085 Lynnhaven Parkway
- Market: Virginia Beach, VA
- Total Square Feet: 450,000
- Price Per Square Foot: $19
- Brokers: Jeff Fritz & Jay O’Donnell - Colliers
Colliers represented an undisclosed TIC seller in the transaction. Following the sale, the buyer has engaged Colliers’ George Fox for leasing advisory services to assist with the property, which is part of the 2.4-acre land within the Salem Crossing development.
On the Map
$8,600,000
$9/SF
Retail
View full map
Players
Virginia Beach Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
Loading comparables…
Deal FAQ
Visit Jeff Fritz to view all their deals.
Browse Virginia Beach retail sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.84%
Cash-on-Cash
-0.53%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93