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Parkway Marketplace 5020 Ferrell Pkwy 1,100 SF of Retail Space Available in Virginia Beach, VA 23464
HIGHLIGHTS
- Anchored by Food Lion and home to national retailers including WaWa, Gamestop, and GNC.
- Major area employers include Amerigroup Corporation, Regent University, and the Christian Broadcasting Network
- Directly fronts Ferrell Parkway in the heart of densely populated central Virginia Beach
- Panel signage available on the Ferrell Parkway pylon.
SPACE AVAILABILITY (1)
Display Rental Rate as
- SPACE
- SIZE
- TERM
- RENTAL RATE
- RENT TYPE
| Space | Size | Term | Rental Rate | Rent Type | ||
| 1st Floor, Ste 7 | 1,100 SF | Negotiable | $18.00 /SF/YR $1.50 /SF/MO $19,800 /YR $1,650 /MO | Triple Net (NNN) |
5020 Ferrell Pkwy - 1st Floor - Ste 7
- Lease rate does not include utilities, property expenses or building services
- Located in-line with other retail
- Space is in Excellent Condition
Rent Types
The rent amount and type that the tenant (lessee) will be responsible to pay to the landlord (lessor) throughout the lease term is negotiated prior to both parties signing a lease agreement. The rent type will vary depending upon the services provided. For example, triple net rents are typically lower than full service rents due to additional expenses the tenant is required to pay in addition to the base rent. Contact the listing broker for a full understanding of any associated costs or additional expenses for each rent type.
1. Full Service: A rental rate that includes normal building standard services as provided by the landlord within a base year rental.
2. Double Net (NN): Tenant pays for only two of the building expenses; the landlord and tenant determine the specific expenses prior to signing the lease agreement.
3. Triple Net (NNN): A lease in which the tenant is responsible for all expenses associated with their proportional share of occupancy of the building.
4. Modified Gross: Modified Gross is a general type of lease rate where typically the tenant will be responsible for their proportional share of one or more of the expenses. The landlord will pay the remaining expenses. See the below list of common Modified Gross rental rate structures: 4. Plus All Utilities: A type of Modified Gross Lease where the tenant is responsible for their proportional share of utilities in addition to the rent. 4. Plus Cleaning: A type of Modified Gross Lease where the tenant is responsible for their proportional share of cleaning in addition to the rent. 4. Plus Electric: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the electrical cost in addition to the rent. 4. Plus Electric & Cleaning: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the electrical and cleaning cost in addition to the rent. 4. Plus Utilities and Char: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the utilities and cleaning cost in addition to the rent. 4. Industrial Gross: A type of Modified Gross lease where the tenant pays one or more of the expenses in addition to the rent. The landlord and tenant determine these prior to signing the lease agreement.
5. Tenant Electric: The landlord pays for all services and the tenant is responsible for their usage of lights and electrical outlets in the space they occupy.
6. Negotiable or Upon Request: Used when the leasing contact does not provide the rent or service type.
7. TBD: To be determined; used for buildings for which no rent or service type is known, commonly utilized when the buildings are not yet built.
SELECT TENANTS AT PARKWAY MARKETPLACE
- Food Lion
- WaWa
PROPERTY FACTS
| Total Space Available | 1,100 SF | Frontage | |
| Center Type | Neighborhood Center | Gross Leasable Area | 80,508 SF |
| Parking | 354 Spaces | Total Land Area | 8.70 AC |
| Stores | 12 | Year Built | 1998 |
| Center Properties | 5 |
| Total Space Available | 1,100 SF |
| Center Type | Neighborhood Center |
| Parking | 354 Spaces |
| Stores | 12 |
| Center Properties | 5 |
| Frontage | |
| Gross Leasable Area | 80,508 SF |
| Total Land Area | 8.70 AC |
| Year Built | 1998 |
ABOUT THE PROPERTY
Parkway Marketplace is a newly renovated Food Lion anchored center fronting heavily trafficked Ferrell Parkway (48,225 VPD). The center is located in the heart of densely populated central Virginia Beach and benefits from very attractive population counts and high average HH income. Parkway Marketplace also offers a diverse tenant mix which includes grocery, restaurants, salons, financial, and service co-tenants.
- Bus Line
- Dedicated Turn Lane
- Pylon Sign
- Signalized Intersection
NEARBY MAJOR RETAILERS
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Parkway Marketplace | 5020 Ferrell Pkwy
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