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    621 Nevan Rd Virginia Beach, VA 23451

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    For Sale
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    8,576 SF Bank Building, VA Beach

    Property size:
    8,576 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional 8,576 square foot retail space, formerly a bank branch, presents a unique investment opportunity in the desirable Hilltop area of Virginia Beach, VA. The property boasts a two-story building situated on a ground lease with an extension option available until June 2038, providing long-term stability for the buyer. The building's substantial size offers ample space for a variety of retail uses, allowing for creative adaptation to suit diverse business needs. Its prominent location within the Hilltop area ensures high visibility and accessibility, attracting significant foot traffic and potential customers. The address is 621 Nevan Rd, Virginia Beach, VA 23451. The property's single-building structure simplifies management and maintenance, minimizing operational complexities. This is an excellent chance to acquire a well-positioned retail property in a thriving Virginia Beach neighborhood, offering both immediate occupancy and long-term growth potential. The property's existing infrastructure, previously utilized as a bank branch, may offer significant cost savings in build-out and renovation. Serious inquiries are encouraged to explore this compelling investment opportunity further. The geographic coordinates are 36.8498315 latitude and -76.0207388 longitude.

    Property Features for 621 Nevan Rd

    General Information

    Property type
    Individual retail properties
    Square Feet
    8,576 SF

    Building Details

    Buildings
    1
    Stories
    2

    HighLights

    • 8,576 square foot retail building.
    • One, two‑story building.
    • Located in the Hilltop area of Virginia Beach, VA.
    • Situated at 621 Nevan Rd, Virginia Beach, VA 23451.
    • Ground lease extendable to June 2038.
    • Former bank branch.
    Property Profile Location Intelligence

    Current Use by Public Records

    John C Lumpkin ... Attorney

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Dental Office Spa & Massage Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Virginia Beach
    County
    Virginia Beach City
    State
    Virginia
    Longitude
    -76.0207388
    Latitude
    36.8498315

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    FAQs

    What type of property is this?
    Individual retail property - 8,576 SF Bank Building, VA Beach
    Where is this individual retail property located?
    The property is located at 621 Nevan Rd Virginia Beach, VA.
    What are key features of this property?
    This property features: 8,576 square foot retail building.; One, two-story building.; Located in the Hilltop area of Virginia Beach, VA.
    Request Owner's contact information
    621 Nevan Rd Virginia Beach, VA 23451
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    Virginia Beach, VA 23451
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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
    621 Nevan Rd Virginia Beach, VA 23451
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