1577 General Booth BlvdVirginia Beach, VA 23454

Property Details for 1577 General Booth Blvd

Year built

1987

Construction

TYPE NOT SPECIFIED

Lot size

7.09 AC

Property size (Sq ft)

22,070 SF

Zone code

B2

Property type

Retail properties

Property subtype

Grocery and convenience stores

APN

24154587090000

APU

24154587090000

Description

Dam Neck Square Shopping Center, located at 1577 General Booth Blvd, Virginia Beach, VA 23454, presents a compelling investment opportunity. This 65,768 square foot retail center, built in 1987, sits on a 7.09-acre lot and boasts 763 parking spaces. The property is zoned B2 and enjoys a prime location at the busy intersection of General Booth Boulevard and Dam Neck Road, benefitting from a combined daily traffic count of 62,000 vehicles. The center is currently anchored by Aldi and features a diverse tenant mix including Dollar Tree, Direct Performance Physical Therapy, Domino's Pizza, Subway, and Allstate, among others. Two spaces are currently available, ranging from 1,875 to 2,500 square feet, providing immediate income potential. The surrounding area is characterized by high income levels and consistent growth, further enhanced by the proximity of major employers such as the Virginia Beach Municipal Center and Courthouse, Oceana Naval Air Base, Camp Pendleton, Sandridge Beaches, and Corporate Landing. This well-established shopping center offers a strong foundation for future growth and profitability. The property's strategic location and established tenant base make it an attractive investment for those seeking a stable and high-performing retail asset in a thriving Virginia Beach submarket.

• CAP approach

  CAP return

  Valuation

  6%

  $6,653,375

  6.5%

  $6,141,577

  7%

  $5,702,893

• Comparable approach

  Method

  Valuation

  Relative Method

  $6,915,762

  Geo Method

  $9,288,495

• Alternative Use

  Use

  Valuation

  Residential

  $5,180,650

  Hospitality

  $4,745,448

  Educational

  $3,948,157

  Medical

  $4,083,940

  Retail

  $6,141,577

Location Insight

City

Virginia Beach

County

Virginia Beach City

State

Virginia

Latitude

36.787

Longitude

-76.0007

CBSA code

47260

CBSA name

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

Property Tax & Assessments

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