1220 High StPortsmouth, VA 23704

Property Details for 1220 High St

Year built

1983

Construction

LIGHT FRAME

Lot size

0.77 AC

Property size (Sq ft)

1,852 SF

Zone code

NMU

Property type

Office buildings

APN

0038-1310

APU

381310

Description

This exceptional freestanding retail building, situated in the desirable Mid-City submarket, offers a single-tenant occupancy of 1,886 square feet. Constructed in 1983, the property boasts a single-story design, providing convenient and efficient use of space. The building is well-maintained and features recent upgrades, including a brand new HVAC system and energy-efficient LED lighting in the parking lot. The interior includes a spacious shop area conveniently equipped with a roll-up door, ideal for loading and unloading merchandise or providing easy access for customers. This property presents a fantastic opportunity for a variety of retail businesses seeking a high-visibility location in a thriving commercial area. Its single-tenant configuration offers simplicity and control, while the modern upgrades ensure efficient and cost-effective operation. The strategic location within the Mid-City submarket guarantees high foot traffic and excellent exposure to potential customers. This is an ideal investment for owner-occupiers or savvy investors seeking a stable and profitable retail property. The property's size and features make it suitable for a wide range of retail concepts, offering significant potential for growth and return on investment. Serious inquiries are encouraged to explore this exceptional opportunity further.

• CAP approach

  CAP return

  Valuation

  6%

  $391,081

  6.5%

  $360,998

  7%

  $335,213

• Comparable approach

  Method

  Valuation

  Relative Method

  $237,303

  Geo Method

  $309,303

• Alternative Use

  Use

  Valuation

  Residential

  $447,638

  Hospitality

  $410,034

  Educational

  $341,143

  Medical

  $352,876

  Retail

  $530,667

Location Insight

City

Portsmouth

County

Portsmouth City

State

Virginia

Latitude

36.8355

Longitude

-76.3135

CBSA code

47260

CBSA name

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

Property Tax & Assessments

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