3601 High StPortsmouth, VA 23707

Property Details for 3601 High St

Year built

1961

Lot size

0.44 AC

Property size (Sq ft)

5,043 SF

Property type

Retail properties

Property subtype

Lifestyle centers

Description

This exceptional investment opportunity presents a fully leased, three-tenant retail shopping center totaling 5,043 square feet, situated on a 0.44-acre lot in Portsmouth, Virginia. The property, located at 3601 High Street (and including 3603 & 3605), boasts a strong 8.00% capitalization rate and a Net Operating Income (NOI) of $87,509. Built in 1961 and zoned GMU, the center benefits from a triple-net (NNN) lease structure, minimizing landlord responsibilities. Tenants include a diverse mix of businesses, ensuring a stable income stream. The prominent location at a signalized intersection on High Street, a thoroughfare with 24,000 vehicles daily, provides excellent visibility and accessibility. Its proximity to I-264 and major retailers like Chick-fil-A, Walmart, Kroger, and T.J. Maxx further enhances its appeal. The property features pylon signage for maximum exposure and benefits from its location near the historic Bon Secours Maryview Medical Center, the U.S. Coast Guard Base, and the Norfolk Naval Shipyard. The asking price is $1,085,000. This is a rare opportunity to acquire a well-positioned, high-performing retail investment in a thriving market.

Location Insight

City

Portsmouth

County

Portsmouth City

State

Virginia

Latitude

36.8357

Longitude

-76.3476

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