1920 Centerville TpkeVirginia Beach, VA 23464

Property Details for 1920 Centerville Tpke

Year built

1988

Construction

TYPE NOT SPECIFIED

Lot size

15.41 AC

Property size (Sq ft)

54,780 SF

Zone code

B2

Property type

Retail properties

Property subtype

Grocery and convenience stores

APN

14559143450000

APU

14559143450000

Description

This exceptional 152,314 square foot shopping center, situated at 1920 Centerville Turnpike in Virginia Beach, VA (zip code 23464), presents a compelling investment opportunity. Built in 1988 and zoned B-2, the property boasts 568 free surface parking spaces, ensuring ample convenience for customers. Currently, there are four available retail spaces ranging from 1,481 to 1,600 contiguous square feet, totaling 4,681 square feet of vacant space. The minimum divisible space is 1,481 square feet. Strategically located at the intersection of Centerville Turnpike and Kempsville Road, this center benefits from high visibility and accessibility. Its prime location is approximately one mile from Regent University and the Founders Inn Hotel and Conference Center, ensuring a robust customer base. Anchored by a Food Lion and Dollar General, this attractive community shopping center thrives in the heart of Kempsville, Virginia Beach's most densely populated submarket. This property offers a unique chance to establish or expand a business within a thriving retail environment. The property's strong location and established anchors make it an ideal investment for discerning buyers seeking a high-traffic retail space in a desirable area.

• CAP approach

  CAP return

  Valuation

  6%

  $14,940,415

  6.5%

  $13,791,152

  7%

  $12,806,070

• Comparable approach

  Method

  Valuation

  Relative Method

  $15,492,986

  Geo Method

  $23,054,996

• Alternative Use

  Use

  Valuation

  Residential

  $11,633,353

  Hospitality

  $10,656,089

  Educational

  $8,865,741

  Medical

  $9,170,647

  Retail

  $13,791,152

Location Insight

City

Virginia Beach

County

Virginia Beach City

State

Virginia

Latitude

36.7791

Longitude

-76.19

CBSA code

47260

CBSA name

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

Property Tax & Assessments

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