2058 Independence BlvdVirginia Beach, VA 23453

Property Details for 2058 Independence Blvd

Year built

1999

Construction

TYPE NOT SPECIFIED

Lot size

6.33 AC

Property size (Sq ft)

59,643 SF

Zone code

B2

Property type

Retail properties

Property subtype

Grocery and convenience stores

APN

14853526500000

APU

14853526500000

Description

This exceptional 59,643-square-foot vacant grocery store is available for sale. Located at 2058 S Independence Blvd in Virginia Beach, VA 23453, this single-story building sits on a 6.33-acre lot and is zoned PDH1. The property is part of the Princess Anne Crossing Shopping Center, strategically positioned at the signalized intersection of Princess Anne Road and S. Independence Boulevard. This high-visibility location benefits from its proximity to a Target store and the new Spence Crossing development, ensuring significant foot traffic and accessibility. The building offers substantial space ideal for a variety of retail uses, given its previous function as a grocery store. The large lot size provides ample parking and potential for expansion or future development. This presents a unique opportunity for investors and entrepreneurs seeking a prominent retail space in a thriving Virginia Beach commercial area. The property is offered for sale by owner, providing a direct and streamlined transaction process. Serious inquiries are encouraged to explore this exceptional investment opportunity.

• CAP approach

  CAP return

  Valuation

  6%

  $18,011,144

  6.5%

  $16,625,672

  7%

  $15,438,124

• Comparable approach

  Method

  Valuation

  Relative Method

  $18,722,240

  Geo Method

  $25,101,664

• Alternative Use

  Use

  Valuation

  Residential

  $14,024,377

  Hospitality

  $12,846,254

  Educational

  $10,687,932

  Medical

  $11,055,507

  Retail

  $16,625,672

Location Insight

City

Virginia Beach

County

Virginia Beach City

State

Virginia

Latitude

36.7892

Longitude

-76.1086

CBSA code

47260

CBSA name

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

Property Tax & Assessments

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