840 Military HwyVirginia Beach, VA 23464

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 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.

• 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

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