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    430 High St Portsmouth, VA 23704

    For Sale
    $750,000

    Mixed-use building, high rental income.

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    311
    This exceptional 0.25-acre property at 430 High Street in the heart of Olde Towne Portsmouth, Virginia, presents a unique redevelopment opportunity. The building boasts eight fully occupied residential apartments on the third floor, generating a substantial monthly rental income of $7,000. The apartment mix includes three one-bedroom and five two-bedroom units. Significant upside potential exists with the currently vacant first and second floor commercial space. This expansive area, formerly a theater, offers a blank canvas for creative redesign and diverse commercial uses. The property features a recently refurbished back-street tenant staircase and a newer sprinkler system throughout. The sale is strictly "as-is," with the seller making no repairs. Showings of the commercial space require 48 hours' notice and proof of funds prior to scheduling. Access to occupied residential units is available only with appropriate due diligence. This is a rare chance to acquire a historic mixed-use building in a vibrant and desirable location. Don't miss this opportunity to capitalize on the strong rental income and significant redevelopment potential.

    Property Features for 430 High St

    General Information

    Property type
    Other commercial real estate
    Lot Size
    10,890 SF

    Building Details

    Year Built
    1941
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Restaurant Spa & Massage Hair Salon Dental Office Nail Salon Law Firm Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Portsmouth
    County
    PORTSMOUTH
    State
    Virginia
    Longitude
    -76.3019
    Latitude
    36.83573

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    FAQs

    What type of property is this?
    Commercial real estate - Mixed-use building, high rental income.
    Where is this commercial real estate located?
    The property is located at 430 High St Portsmouth, VA.
    What is the asking price?
    The asking price for this property is $750,000.
    (757) 777-9870
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    430 High St Portsmouth, VA 23704
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    430 High St Portsmouth, VA 23704
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