2550 Airline BlvdPortsmouth, VA 23701

Property Details for 2550 Airline Blvd

Year built

1991

Construction

BRICK

Lot size

5.40 AC

Property size (Sq ft)

52,156 SF

Zone code

GMU

Property type

Shopping centers

Property subtype

Specialty properties

APN

0381-0150

APU

3810150

Description

The Shops at Alexander's Corner, located at 2550 Airline Blvd in Portsmouth, Virginia (zip code 23701), offers exceptional retail space in a vibrant strip center. This property boasts a total of 2,480 square feet, currently featuring two available spaces. The minimum divisible space is 1,250 square feet, providing an ideal opportunity for smaller businesses, while a maximum of 44,386 contiguous square feet is available for larger tenants seeking significant space. The property's prominent location ensures high visibility and accessibility for customers. A key advantage is the availability of prominent pylon signage, offering excellent opportunities for branding and attracting attention. The property is classified as a retail strip center with multiple tenancies, indicating a diverse and potentially thriving commercial environment. The available space presents a unique opportunity for businesses seeking a well-located and highly visible retail presence in Portsmouth, Virginia. The address is easily accessible, and the property's size offers flexibility for a range of business needs, from smaller boutiques to larger retail operations. With ample space available, this property is ready for immediate occupancy. Inquire today to learn more about this exciting opportunity.

• CAP approach

  CAP return

  Valuation

  6%

  $14,224,759

  6.5%

  $13,130,547

  7%

  $12,192,650

• Comparable approach

  Method

  Valuation

  Relative Method

  $14,750,861

  Geo Method

  $21,950,646

• Alternative Use

  Use

  Valuation

  Residential

  $11,076,107

  Hospitality

  $10,145,655

  Educational

  $8,441,066

  Medical

  $8,731,367

  Retail

  $13,130,547

Location Insight

City

Portsmouth

County

Portsmouth City

State

Virginia

Latitude

36.8145

Longitude

-76.3585

CBSA code

47260

CBSA name

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

Property Tax & Assessments

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