670 Lincoln StPortsmouth, VA 23704

Property Details for 670 Lincoln St

Year built

1953

Lot size

1.75 AC

Property size (Sq ft)

22,497 SF

Zone code

SD

Property type

Specialty properties

Property subtype

Other shopping centers

APN

0033-0790

APU

330790

Description

This exceptional Portsmouth, VA property at 670 Lincoln Street offers a unique opportunity for businesses seeking office, flex, or land lease options. The main building features a 3,645 square foot space ideal for a variety of uses, including retail or office, complete with a convenient roll-up garage door. This versatile space is perfect for businesses requiring easy access to both I-264 and the downtown Norfolk tunnel, ensuring seamless commutes for employees and clients. Ample parking is provided with 112 spaces available for tenants and their visitors. The property's strategic location also benefits from excellent public transportation access via a nearby bus line and commuter rail, enhancing its appeal and accessibility. Further enhancing its visibility and marketing potential, the property boasts prominent freeway visibility and signage opportunities. Beyond the existing building, several land parcels are also available for ground lease, presenting additional development potential for expansion or complementary businesses. The office space is offered at a competitive net utility rate of $12.00 per square foot. This combined offering of office space, land parcels, and convenient amenities makes 670 Lincoln Street an unparalleled investment opportunity in a thriving Portsmouth location.

• CAP approach

  CAP return

  Valuation

  6%

  $6,804,100

  6.5%

  $6,280,708

  7%

  $5,832,086

• Comparable approach

  Method

  Valuation

  Relative Method

  $7,073,001

  Geo Method

  $9,468,204

• Alternative Use

  Use

  Valuation

  Residential

  $5,298,012

  Hospitality

  $4,852,950

  Educational

  $4,037,598

  Medical

  $4,176,457

  Retail

  $6,280,708

Location Insight

City

Portsmouth

County

Portsmouth City

State

Virginia

Latitude

36.8252

Longitude

-76.3043

CBSA code

47260

CBSA name

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

Property Tax & Assessments

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