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    5615 High St Portsmouth, VA 23703

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    For Lease
    Contact for pricing

    High-Visibility Retail Opportunity in Portsmouth, VA

    Lot size:
    10,160 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional retail space, part of The Port development in Portsmouth, Virginia, offers 5,060 square feet of prime commercial real estate. Located at 5615 High Street, zip code 23703, this freestanding building boasts excellent visibility due to monument signage on a main roadway. The property is situated within a thriving commercial corridor, benefiting from high density and strong incomes in the surrounding area. The Port development itself includes a new 192-unit multifamily apartment complex, ensuring a built-in customer base. This presents a unique opportunity for a variety of retail uses, including but not limited to medical facilities, restaurants, banks and financial institutions, or professional offices. The total building size is 10,160 square feet, divided into two suites. Currently, one suite of 5,060 square feet is available for lease. This location in Portsmouth, VA, within Portsmouth County, offers a strategic advantage for businesses seeking high foot traffic and strong community engagement. The property's prime location and the surrounding development's success make this a compelling investment opportunity for discerning businesses. The property is categorized as a multiple tenancy retail space.

    Property Features for 5615 High St

    General Information

    Property type
    Retail properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    10,160 SF

    Unit(s) available at that property

    Space
    Suite A
    Size
    5,060 SF

    HighLights

    • High‑visibility pylon signage opportunity.
    • Two‑mile average annual household income: $86,797.
    Property Profile Location Intelligence

    Current Use by Public Records

    Dr. Alfred M. ... Family Practice Physician

    Suggested Use

    Law Firm Realty agency 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
    State
    Virginia
    Longitude
    -76.3925687
    Latitude
    36.8595644

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    FAQs

    What type of property is this?
    Retail property - High-Visibility Retail Opportunity in Portsmouth, VA
    Where is this retail property located?
    The property is located at 5615 High St Portsmouth, VA.
    What are key features of this property?
    This property features: High-visibility pylon signage opportunity.; Two-mile average annual household income: $86,797.;
    Request Owner's contact information
    5615 High St Portsmouth, VA 23703
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    Portsmouth, VA 23703
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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
    5615 High St Portsmouth, VA 23703
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