326 High StPortsmouth, VA 23704

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 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.

• CAP approach

  CAP return

  Valuation

  6%

  $2,471,130

  6.5%

  $2,281,040

  7%

  $2,118,110

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,356,170

  Geo Method

  $1,767,650

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $4,461,830

  Mixed-Use / Specialty

  $2,267,420

  Hospitality / Lodging

  $1,656,390

  Office

  $2,248,230

  Institutional / Educational

  $2,355,240

  Residential Income

  $2,755,630

  Multifamily

  $3,335,380

  Automotive / Energy

  $2,018,780

  Parking / Income-Based Land

  $702,077

  Restaurant / Food Service

  $1,167,590

  Healthcare / Senior Housing

  $2,330,820

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

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