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    3601 High St Portsmouth, VA 23707

    Sponsored
    For Sale
    $1,085,000

    High-street retail center, 100% leased.

    Property size:
    5,043 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional investment opportunity presents a fully leased, three-tenant retail shopping center totaling 5,043 square feet, situated on a 0.44-acre lot in Portsmouth, Virginia. The property, located at 3601 High Street (and including 3603 & 3605), boasts a strong 8.00% capitalization rate and a Net Operating Income (NOI) of $87,509. Built in 1961 and zoned GMU, the center benefits from a triple-net (NNN) lease structure, minimizing landlord responsibilities. Tenants include a diverse mix of businesses, ensuring a stable income stream. The prominent location at a signalized intersection on High Street, a thoroughfare with 24,000 vehicles daily, provides excellent visibility and accessibility. Its proximity to I-264 and major retailers like Chick-fil-A, Walmart, Kroger, and T.J. Maxx further enhances its appeal. The property features pylon signage for maximum exposure and benefits from its location near the historic Bon Secours Maryview Medical Center, the U.S. Coast Guard Base, and the Norfolk Naval Shipyard. The asking price is $1,085,000. This is a rare opportunity to acquire a well-positioned, high-performing retail investment in a thriving market.

    Property Features for 3601 High St

    General Information

    Property type
    Lifestyle centers
    Square Feet
    5,043 SF
    Lot Size
    19,166 SF

    Building Details

    Year Built
    1961
    Units
    3

    HighLights

    • Fully leased retail center.
    • Strong tenant mix including restaurant, tobacco/vape shop, and established dry cleaner (since 1998).
    • High‑visibility pylon signage on High Street.
    • Excellent location near Bon Secours Maryview Medical Center, US Coast Guard Base, and Norfolk Naval Shipyard.
    • High‑traffic location at a busy intersection (24,000 VPD).
    Property Profile Location Intelligence

    Current Use by Public Records

    Portsmouth Cleaners Dry Cleaner

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Portsmouth
    County
    Portsmouth City
    State
    Virginia
    Longitude
    -76.347639262474
    Latitude
    36.835722978873

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    FAQs

    What type of property is this?
    Lifestyle center - High-street retail center, 100% leased.
    Where is this lifestyle center located?
    The property is located at 3601 High St Portsmouth, VA.
    What is the asking price?
    The asking price for this property is $1,085,000.
    What are key features of this property?
    This property features: Fully leased retail center.; Strong tenant mix including restaurant, tobacco/vape shop, and established dry cleaner (since 1998).; High-visibility pylon signage on High Street.
    Request Owner's contact information
    3601 High 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
    3601 High St Portsmouth, VA 23707
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