For Sale
$4,222,400

0 Princess Anne Rd And Elson Grn AveVirginia Beach, VA 23456

15 Acres, High-Visibility Location, Mixed-Use Potential

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional 15.208-acre property presents a unique investment opportunity in Virginia Beach's rapidly expanding Red Mill area. Boasting approximately 800 feet of frontage on Princess Anne Road, this strategically located site sits at a signalized intersection with Home Depot and Target, ensuring high visibility and accessibility. The land is currently zoned AG1, but the city is supportive of rezoning consistent with the Comprehensive Plan, which designates this area for mixed-use development. While 6.29 acres are upland, wetland credits are available to increase developable land. This prime location benefits from a dense, affluent residential population with an average household income of $133,688, and a low retail submarket vacancy rate of 2.2%. The property offers multiple points of ingress/egress via two median breaks, enhancing its functionality. Its proximity to Three Oaks Elementary School (659 students) further underscores its potential. The asking price is $4,222,400, translating to $280,000 per acre. This represents a rare chance to acquire a high-impact site in a thriving market with significant upside potential. Detailed information regarding permitted uses is available upon request. The parcel number is 24141415320000.

Highlights

  • High visibility and strong barriers to entry.
  • City support for rezoning aligns with the Comprehensive Plan.
  • Retail submarket boasts a 2.2% vacancy rate.
  • Dense, affluent residential population; average household income $133,688.
  • Signalized intersection with excellent access via two median breaks.
  • Comprehensive Plan designates mixed-use development; currently zoned AG1.

Property Details for 0 Princess Anne Rd And Elson Grn Ave

Property type
Land, Farms

Location Insight

City
Virginia Beach
County
Virginia Beach City
State
Virginia
Latitude
36.756345570044
Longitude
-76.012001956499
Princess Anne Rd And Elson Grn Ave, Virginia Beach, Virginia

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0 Princess Anne Rd And Elson Grn Ave
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