1115 Independence BlvdVirginia Beach, VA 23455

Property Details for 1115 Independence Blvd

Year built

1986

Construction

TYPE NOT SPECIFIED

Lot size

2.53 AC

Property size (Sq ft)

35,652 SF

Zone code

B2

Property type

Community centers

APN

14784760090000

APU

14784760090000

Description

Independent Plaza Shopping Center, located at 1115 Independence Blvd in Virginia Beach, VA 23455, presents a unique investment opportunity. This two-story building offers a blend of street-level retail space and second-floor executive office space, totaling 56,655 square feet. Currently, there is one suite available, encompassing 1,200 square feet, ideal for a variety of businesses. The property's multi-tenant configuration provides flexibility and potential for diverse income streams. Situated in Virginia Beach, within the convenient and accessible Independence Boulevard area, this property benefits from high visibility and strong foot traffic. The building's design caters to both retail and office needs, making it suitable for a range of businesses seeking a prominent location. The property's location in Virginia Beach County offers access to a thriving local economy and a diverse customer base. With its strategic location and versatile space, Independent Plaza Shopping Center is an attractive option for businesses seeking a well-established presence in a dynamic market. The available 1,200 square feet presents an excellent chance to establish or expand a business within a well-maintained and established shopping center. Serious inquiries are encouraged to explore this exceptional opportunity further.

• CAP approach

  CAP return

  Valuation

  6%

  $11,066,936

  6.5%

  $10,215,633

  7%

  $9,485,945

• Comparable approach

  Method

  Valuation

  Relative Method

  $11,511,883

  Geo Method

  $15,004,686

• Alternative Use

  Use

  Valuation

  Residential

  $8,617,269

  Hospitality

  $7,893,372

  Educational

  $6,567,193

  Medical

  $6,793,048

  Retail

  $10,215,633

Location Insight

City

Virginia Beach

County

Virginia Beach City

State

Virginia

Latitude

36.876

Longitude

-76.1352

CBSA code

47260

CBSA name

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

Property Tax & Assessments

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