Assisted Living Facility For
3736 Turnpike Road Portsmouth, VA 23701
3736 Turnpike Road, Portsmouth, VA, 23701
$750,000
For Sale
$750,000
COMMERCIAL - Portsmouth, VA
Property Size8,583 SF
Lot Size0.80 Acres
Price / SF$87.38
Days on Market283
Property Features for 3736 Turnpike Road
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Zoning
- UR
- Standard status
- Active
- Size
- 8,583 SF
- Lot size
- 0.80 Acres
Taxes and HOA fees
- Tax Annual Amount
- 5952
Utilities
- Heating system
- Forced Air
Building Details
- Year built
- 1930
Listing agency
EXIT Realty Central
(757) 466-1009
Listed by
Timothy Churchwell
(757) 466-1009
Added: Oct 14, 2025 Updated: May 26 at 11:01AM Checked: Jul 23 at 3:06AM
MLS# 10606072
Copyright © 2026 Real Estate Information Network, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This commercial property is an assisted living facility approved for 32 beds. It is located at the intersection of Turnpike Rd and Utah St. The property occupies a 0.8-acre corner lot that has potential for expansion. The building has 8,583 square feet of space.
Key Highlights
- Approved Assisted Living Facility (32 beds)
- Large .8 Acre Corner Lot offers potential for expansion
- Located at the Intersection of Turnpike Rd and Utah St.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $136.0k | $15.84 |
| − Vacancy | −$11.0k | −$1.28 |
| EGI | $124.9k | $14.56 |
| − OpEx | −$56.2k | −$6.55 |
| NOI | $68.7k | $8.01 |
8,583 SF · lease $15.84/SF/yr · vacancy 8.10% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$981.7K
$859.0K – $1.15M
NOI $68,718 @ 7.0% cap · market cap 9.16%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.73M
$2.39M – $3.19M
NOI $191,276 @ 7.0% cap · market cap 25.50%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Assisted living facilities
Similar For Sale Nearby
Similar Off Market Nearby
- Bambi's Haus Of LOVE LLC — 4000 Dartmouth St, Portsmouth, VA 23707
- SHRUG Computer Club — 4351 Portsmouth Blvd, Portsmouth, VA 23701
FAQs
What type of property is this?
Assisted living facility - 32-bed assisted living facility on 0.8 acres in Portsmouth.
Where is this assisted living facility located?
The property is located at 3736 Turnpike Road Portsmouth, VA.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Approved Assisted Living Facility (32 beds); Large .8 Acre Corner Lot offers potential for expansion; Located at the Intersection of Turnpike Rd and Utah St.
