528 First Colonial RdVirginia Beach, VA 23451

Property Details for 528 First Colonial Rd

Year built

1979

Construction

TYPE NOT SPECIFIED

Lot size

0.91 AC

Property size (Sq ft)

4,443 SF

Zone code

B2

Property type

Community centers

APN

24078732750000

APU

24078732750000

Description

This exceptional retail property, located at 528-550 First Colonial Road in Virginia Beach, VA 23451, offers a prime opportunity for businesses seeking high visibility and strong foot traffic. The shopping center encompasses a substantial 270,093 square feet and sits on a generous 16.09-acre lot. Built in 1998, the property is zoned as "7" within Virginia Beach city. Multiple tenancies are currently in place, creating a vibrant and thriving retail environment. For prospective tenants, there is currently 13,280 square feet of vacant space available, divisible into units as small as 5,000 square feet, with a maximum contiguous space of 8,280 square feet. The property's strategic location in Virginia Beach ensures excellent access to a large customer base. This is an ideal opportunity for retailers seeking a well-established location with significant potential for growth. The property's size and layout offer flexibility for a variety of retail uses. Interested parties should inquire about available space and lease terms. The property's location provides easy access to major roadways and ample parking for customers and employees. This is a rare opportunity to secure retail space in a highly desirable location within a thriving shopping center.

• CAP approach

  CAP return

  Valuation

  6%

  $1,379,176

  6.5%

  $1,273,086

  7%

  $1,182,151

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,434,626

  Geo Method

  $1,869,904

• Alternative Use

  Use

  Valuation

  Residential

  $1,073,896

  Hospitality

  $983,683

  Educational

  $818,412

  Medical

  $846,559

  Retail

  $1,273,086

Location Insight

City

Virginia Beach

County

Virginia Beach City

State

Virginia

Latitude

36.8466

Longitude

-76.0206

CBSA code

47260

CBSA name

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

Property Tax & Assessments

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