5263 Greenwich RdVirginia Beach, VA 23462

Property Details for 5263 Greenwich Rd

Lot size

1.60 AC

Zone code

O2

Property type

Office properties

APN

14676358500000

APU

14676358500000

Description

This exceptional 1.6-acre waterfront property in Virginia Beach, VA, presents a unique commercial development opportunity. Located at 5263 Greenwich Rd, zip code 23462 (latitude 36.840111, longitude -76.1636539), this land parcel is zoned O-2, permitting a variety of commercial and office uses. Its prime location offers unparalleled access to major transportation arteries, situated near the I-264 and I-64 interchange, ensuring excellent connectivity and accessibility for employees and clients. The property's waterfront location provides stunning views and a desirable setting for a variety of businesses. Ample parking is available, addressing a key concern for many commercial ventures. The significant lot size allows for substantial development potential, catering to a range of project scales and designs. This is an exceptional chance to acquire a highly desirable commercial land parcel in a thriving Virginia Beach location, offering both immediate and long-term investment potential. The property's strategic location and zoning make it an ideal site for a variety of commercial developments, from office buildings to retail spaces. Serious inquiries are encouraged to explore the possibilities this unique waterfront property offers.

• CAP approach

  CAP return

  Valuation

  6%

  $14,698,283

  6.5%

  $13,567,646

  7%

  $12,598,528

• Comparable approach

  Method

  Valuation

  Relative Method

  $8,918,716

  Geo Method

  $11,624,731

• Alternative Use

  Use

  Valuation

  Residential

  $16,823,882

  Hospitality

  $15,410,585

  Educational

  $12,821,426

  Medical

  $13,262,374

  Retail

  $19,944,440

Location Insight

City

Virginia Beach

County

Virginia Beach City

State

Virginia

Latitude

36.8401

Longitude

-76.1637

CBSA code

47260

CBSA name

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

Property Tax & Assessments

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