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    3703 County St Portsmouth, VA 23707

    Sponsored
    For Sale
    $375,000

    Vacant Medical/Office Building, High Potential

    Property size:
    2,280 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This freestanding Class C office building, located at 3703 County St, Portsmouth, VA 23707, offers 2,280 square feet of space and is available for $375,000 ($164.47/sq ft). Currently vacant, this single-tenant property is zoned UR-M, allowing for mixed residential and commercial uses. The building features five rooms, a storage attic, kitchenette, 2.5 bathrooms, a reception area, an ADA-compliant ramp, and a fenced outdoor area. Its strategic location, two blocks from Bon Secours-Maryview Hospital, ensures high visibility and accessibility. Portsmouth's revitalization and economic development initiatives present significant growth potential, further enhanced by the possibility of tax incentives and grants for renovations or new development. The property's proximity to amenities like schools, parks, shopping, and public transportation adds to its appeal. This absolute NNN lease type presents a compelling investment opportunity with an 8.00% cap rate. The property's versatility and location in a growing area make it an attractive option for investors seeking strong returns and diverse development possibilities. Consult the city's zoning ordinance or planning department for specific regulations and permitted uses.

    Property Features for 3703 County St

    General Information

    Property type
    Medical offices
    Square Feet
    2,280 SF
    Class
    C

    HighLights

    • High‑visibility location two blocks from Bon Secours‑Maryview Hospital in Portsmouth, VA.
    • UR‑M zoning allows for mixed‑use development.
    • Portsmouth's revitalization offers strong growth potential.
    • Convenient to schools, parks, shopping, and public transit.
    • Potential for tax incentives and grants.
    Property Profile Location Intelligence

    Current Use by Public Records

    Medical offices

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon 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 City
    State
    Virginia
    Longitude
    -76.347866455261
    Latitude
    36.832673013325

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    FAQs

    What type of property is this?
    Medical office - Vacant Medical/Office Building, High Potential
    Where is this medical office located?
    The property is located at 3703 County St Portsmouth, VA.
    What is the asking price?
    The asking price for this property is $375,000.
    What are key features of this property?
    This property features: High-visibility location two blocks from Bon Secours-Maryview Hospital in Portsmouth, VA.; UR-M zoning allows for mixed-use development.; Portsmouth's revitalization offers strong growth potential.
    Request Owner's contact information
    3703 County St Portsmouth, VA 23707
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    Portsmouth, VA 23707
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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
    3703 County St Portsmouth, VA 23707
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