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    1609 High St Portsmouth, VA 23704

    Sponsored
    For Sale
    Contact for pricing

    1.2-Acre Mixed-Use Development Site

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 1.2-acre commercial land parcel presents a unique investment opportunity in Portsmouth, Virginia. Located at 1609 High Street, zip code 23704, this property boasts a prime location within the vibrant Innovation District. The site is zoned NMU (Neighborhood Mixed Use), offering considerable flexibility for a diverse range of commercial developments. Potential uses include retail establishments, office spaces, or a combination of both, catering to the area's growing demand for mixed-use projects. The expansive lot size provides ample space for a substantial development, allowing for creative design and efficient utilization of the land. Its strategic location within the Innovation District ensures high visibility and accessibility, attracting a significant customer base and workforce. This property is ideal for developers seeking a versatile and strategically positioned site to build a thriving commercial venture. The latitude and longitude coordinates are 36.834632 and -76.318752 respectively. Serious inquiries are encouraged to explore the development potential of this exceptional property. Further details regarding pricing are available upon request.

    Property Features for 1609 High St

    General Information

    Property type
    Land
    Lot Size
    52,272 SF

    HighLights

    • Highly desirable location.
    • Exceptional visibility and accessibility.
    • Modern, efficient floor plan.
    • Abundant parking.
    • Strong tenant base.
    • Significant upside potential.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office 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
    Portsmouth
    County
    Portsmouth City
    State
    Virginia
    Longitude
    -76.318752
    Latitude
    36.834632

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    FAQs

    What type of property is this?
    Land - 1.2-Acre Mixed-Use Development Site
    Where is this land located?
    The property is located at 1609 High St Portsmouth, VA.
    What are key features of this property?
    This property features: Highly desirable location.; Exceptional visibility and accessibility.; Modern, efficient floor plan.
    (757) 640-8210
    Request Owner's contact information
    1609 High St Portsmouth, VA 23704
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    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
    1609 High St Portsmouth, VA 23704
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