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Colliers Brokers $8.6M Sale Of Fully Leased Lynnhaven Square Retail Center In Virginia Beach

Property Image
SOLD
$8,600,000
Jeff Fritz
Jay O’Donnell

Virginia

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Retail45,866 SF
Sold 07/29/2025
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Property Image
SOLD

Colliers Brokers $8.6M Sale Of Fully Leased Lynnhaven Square Retail Center In Virginia Beach

2077 Lynnhaven Parkway & 2085 Lynnhaven Parkway

See Similar Deals
Retail45,866 SF
Sold 07/29/2025
Jeff Fritz
Jay O’Donnell
the dealplayerscompscontact
Contact now

Summary

VIRGINIA
Asset Type:Retail
Price Per Square Foot:$187
Total Square Footage:45,866 SF
Transaction Type:Sale

The property involved in this transaction is a retail center located at 2077-2085 Lynnhaven Parkway in Virginia Beach, VA. The sale, completed on July 29, 2025, was finalized for $8,600,000, with a total square footage of 22,933 and a price per square foot of $375. The asset consists of two fully leased buildings housing various tenants, including Wingstop, Cold Stone, and Virginia ABC.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $8,600,000
  • Sale Date: July 29, 2025
  • Address: 2077-2085 Lynnhaven Parkway
  • Market: Virginia Beach, VA
  • Asset Size: 22,933 SF
  • Price per Square Foot: $375

Jeff Fritz and Jay O’Donnell from Colliers represented the seller in this transaction. The buyer, who remains undisclosed, has engaged George Fox of Colliers for leasing services at the property.

Players

Jeff Fritz
Colliers
Jeff Fritz
4 deals$28M volume(757) 228-1840
BROKER
Jay O’Donnell
Colliers
Jay O’Donnell
4 deals$28M volume(434) 284-4019
BROKER
Colliers
Colliers
BROKERAGE

Details

SOLD
IMAGE: 07/29/2025 ADDRESS: 2077-2085 Lynnhaven Parkway MARKET: Virginia Beach, VA ASSET TYPE: Retail ~ 2.43 BROKERS: Jeff Fritz & Jay O’Donnell - Colliers SALE PRICE: $8,600,000 SF: 22,933 ~ PPSF: $375 NOTE: Colliers brokered the $8.6M sale of Lynnhaven Square, a fully leased two-building retail center in Virginia Beach. The buyer, undisclosed, retained Colliers’ George Fox for leasing services; tenants include Wingstop, Cold Stone, and Virginia ABC.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$458,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$30,553.98
Cash-on-Cash Return-1.27%
Monthly Debt Service$40,768.39
Annual Debt Service$489,220.65