3745 Shore DrVirginia Beach, VA 23455

Property Details for 3745 Shore Dr

Year built

1975

Construction

TYPE NOT SPECIFIED

Lot size

0.40 AC

Property size (Sq ft)

2,510 SF

Zone code

B2

Property type

Retail properties

Property subtype

Retail space

APN

14893897880000

APU

14893897880000

Description

This exceptional 0.4-acre commercial land parcel, located at 3745 Shore Drive in Virginia Beach, VA 23455, presents a compelling investment opportunity for builders and developers. The property is zoned B2, offering flexibility for a variety of commercial uses. Currently on the site is an existing retail building of 2,510 square feet and a separate shed measuring 576 square feet. These structures could be repurposed, renovated, or removed to accommodate a new development. The property's prime location offers convenient access to the Chesapeake Bay, enhancing its appeal and potential for various commercial ventures. The auction date is scheduled for September 5th, 2023, at 12:30 PM, with live on-site bidding. Pre-auction offers will be considered. This is a rare chance to acquire a well-situated commercial lot in a thriving Virginia Beach location. Don't miss this chance to capitalize on this prime development opportunity. The property's latitude and longitude coordinates are 36.90778332394625 and -76.10224844303596 respectively.

• CAP approach

  CAP return

  Valuation

  6%

  $779,143

  6.5%

  $719,209

  7%

  $667,837

• Comparable approach

  Method

  Valuation

  Relative Method

  $810,469

  Geo Method

  $1,056,372

• Alternative Use

  Use

  Valuation

  Residential

  $606,680

  Hospitality

  $555,715

  Educational

  $462,349

  Medical

  $478,250

  Retail

  $719,209

Location Insight

City

Virginia Beach

County

Virginia Beach City

State

Virginia

Latitude

36.9074

Longitude

-76.102

CBSA code

47260

CBSA name

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

Property Tax & Assessments

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