840 Military HwyVirginia Beach, VA 23464
- Retail properties
- 13,195 SF
Property Details for 840 Military Hwy
- Year built
- 2000
- Construction
- TYPE NOT SPECIFIED
- Lot size
- 3.26 AC
- Property size (Sq ft)
- 13,195 SF
- Zone code
- B2
- Property type
- Retail properties
- Property subtype
- Retail space
- APN
- 14562534220000
- APU
- 14562534220000
Description
This exceptional 13,240 square foot freestanding retail building is available for lease in Virginia Beach, Virginia. Located at 840 S Military Hwy, this single-tenant property sits on a 3.2-acre lot and boasts a prime location at the signalized intersection of heavily trafficked Indian River Road (31,200 vehicles per day) and S Military Hwy (56,600 vehicles per day). Built in 2000, the building is zoned B-2: Community Business District, offering significant potential for a variety of retail uses. The property features a convenient drive-thru, a highly desirable amenity for many businesses. Its strategic location less than two miles from the I-64 & I-264 interchange ensures excellent regional accessibility, drawing customers from Virginia Beach, Norfolk, and Chesapeake. The entire 13,240 square feet is currently vacant, presenting a unique opportunity for a business seeking a prominent and highly visible location in a thriving commercial area of Virginia Beach County. The property's size and location make it ideal for a variety of retail concepts. This is a rare opportunity to secure a high-traffic, well-located retail space in a densely populated area.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $3,598,736
- 6.5%
- $3,321,910
- 7%
- $3,084,631
-
Comparable approach
- Method
- Valuation
- Relative Method
- $3,731,836
- Geo Method
- $5,553,316
-
Alternative Use
- Use
- Valuation
- Residential
- $2,802,156
- Hospitality
- $2,566,760
- Educational
- $2,135,514
- Medical
- $2,208,958
- Retail
- $3,321,910
Location Insight
- City
- Virginia Beach
- County
- Virginia Beach City
- State
- Virginia
- Latitude
- 36.8182
- Longitude
- -76.2128
- CBSA code
- 47260
- CBSA name
- VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
FAQs
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