326 High StPortsmouth, VA 23704

  • Retail properties
  • 10,177 SF
For Sale
$850,000 View listing

Property Details for 326 High St

Year built
1950
Lot size
0.37 AC
Property size (Sq ft)
10,177 SF
Zone code
T5
Property type
Retail properties
Property subtype
Retail space
APN
0006-0920
APU
60920

Description

This exceptional 10,040 square foot retail storefront is ideally situated at 326 High Street in Portsmouth, Virginia, zip code 23704. Boasting 82 feet of prominent frontage along historic High Street, this single-tenant space offers unparalleled visibility and accessibility. The property benefits from its location within an Enterprise Zone, providing potential economic advantages. Ample parking is available, with 10-15 surface spaces located at the rear of the building, supplemented by the convenient proximity of a city parking garage. This prime location places the property less than a quarter-mile from I-264, ensuring easy access for customers and employees. The property's neighbors include the well-established Roger Brown's Restaurant & Sports Bar and TCC's Visual Arts Center, creating a vibrant and attractive commercial environment. The entire 10,040 square feet is currently vacant, presenting a unique opportunity for a single tenant to establish a significant presence in a thriving Portsmouth location. The property's size and location make it suitable for a wide range of retail businesses.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $3,159,099
    6.5%
    $2,916,092
    7%
    $2,707,800
  • Comparable approach

    Method
    Valuation
    Relative Method
    $3,286,111
    Geo Method
    $4,283,145
  • Alternative Use

    Use
    Valuation
    Residential
    $2,459,832
    Hospitality
    $2,253,193
    Educational
    $1,874,630
    Medical
    $1,939,102
    Retail
    $2,916,092
326 High St, Portsmouth, Virginia

Location Insight

City
Portsmouth
County
Portsmouth City
State
Virginia
Latitude
36.8358
Longitude
-76.3002
CBSA code
47260
CBSA name
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$13,562
$365,740
$436,790
$802,530
-
$365,740
$436,790
$802,530

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