1350 Carolina RdSuffolk, VA 23434

Property Details for 1350 Carolina Rd

Lot size

4.51 AC

Zone code

HEAVY INDUSTRIAL

Property type

Commercial real estate

APN

44*99

APU

4499

Description

This exceptional 2.1-acre commercial land parcel presents a unique investment opportunity in Suffolk, Virginia. Located at 1350 Carolina Road, this property boasts a prime location with high visibility, situated along a road with 19,444 vehicles passing daily. The site is zoned B-2 (General Commercial), offering a wide range of development possibilities. Utilities are readily available, including water, sewer, and electricity, simplifying the development process. The seller is flexible regarding the land size, potentially accommodating various project scales. This property is priced at $1,200,000, representing a compelling value given its location, zoning, and utility access. The property's address is 1350 Carolina Rd, Suffolk, VA 23434, within Nansemond County. Its coordinates are latitude 36.681213 and longitude -76.612325. The property is also zoned M-2 (Heavy Industrial), providing additional development flexibility. This versatile location offers significant potential for a variety of commercial ventures, making it an attractive investment for discerning buyers. Don't miss this chance to acquire a strategically located commercial property in a thriving area.

• CAP approach

  CAP return

  Valuation

  6%

  $41,309,100

  6.5%

  $38,131,500

  7%

  $35,407,800

• Comparable approach

  Method

  Valuation

  Relative Method

  $22,048,400

  Geo Method

  $32,810,100

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $75,558,700

  Retail / Commercial

  $38,650,900

  Mixed-Use / Specialty

  $38,438,000

  Hospitality / Lodging

  $28,103,100

  Office

  $38,131,500

  Institutional / Educational

  $39,933,300

  Residential Income

  $46,721,900

  Multifamily

  $56,451,800

  Automotive / Energy

  $34,228,500

  Parking / Income-Based Land

  $11,886,000

  Restaurant / Food Service

  $19,831,800

  Healthcare / Senior Housing

  $39,494,500

Location Insight

City

Suffolk

County

Suffolk City

State

Virginia

Latitude

36.6812

Longitude

-76.6121

CBSA code

47260

CBSA name

VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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