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614 First Colonial Rd Virginia Beach, VA 23451

For Sale
$8,000,000

Prime 4.27-acre site, redevelopment opportunity.

Description

Added:
Dec 11, 2024
Days on Market:
360
This exceptional 4.27-acre development site presents a compelling investment opportunity in Virginia Beach, VA. Strategically located at the high-traffic intersection of Laskin Road and First Colonial Road (38,238 vehicles per day), this property boasts a prime location within a thriving commercial corridor. The site is situated in a high-income demographic area of Hampton Roads, surrounded by major retailers including Walmart Supercenter, Target, Whole Foods, and Trader Joe's. A 0.60-acre parcel is currently leased to Rite Aid, providing immediate income potential. The larger 4.27-acre parcel is available for redevelopment, offering significant upside potential. This property benefits from its location within an Opportunity Zone and a municipal strategic growth area, making it eligible for redevelopment incentives. The site can be purchased as a whole or in separate parcels, providing flexibility for various development scenarios. The asking price for the entire 4.27-acre site is $8,000,000. This is a rare chance to acquire a premier development site in a highly desirable location with significant growth potential. The address is 614 First Colonial Rd, Virginia Beach, VA 23451.

Property Features for 614 First Colonial Rd

General Information

Property type
Land
Lot Size
186,001 SF

HighLights

  • Prime redevelopment opportunity in Virginia Beach, VA.
  • High‑traffic location at Laskin Rd & First Colonial Rd intersection (38,238 VPD).
  • Situated in Hampton Roads' highest‑income demographic area.
  • 4.27‑acre parcel available for redevelopment.
  • 0.60‑acre parcel leased to Rite Aid, generating immediate income.
  • Surrounded by major retailers including Walmart, Target, Whole Foods, and Trader Joe's.
Property Profile Insight Report Location Intelligence

Current Use by Public Records

Harygul's Halloween Planet Costume Store

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
State
Virginia
Longitude
-76.0213071
Latitude
36.8492894

FAQs

What type of property is this?
Land - Prime 4.27-acre site, redevelopment opportunity.
Where is this land located?
The property is located at 614 First Colonial Rd Virginia Beach, VA.
What is the asking price?
The asking price for this property is $8,000,000.
What are key features of this property?
This property features: Prime redevelopment opportunity in Virginia Beach, VA.; High-traffic location at Laskin Rd & First Colonial Rd intersection (38,238 VPD).; Situated in Hampton Roads' highest-income demographic area.
More about this property
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