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    840 Military Hwy Virginia Beach, VA 23464

    For Lease
    Contact for pricing

    High-traffic Virginia Beach retail space.

    Lot size:
    13,240 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    369
    This exceptional 13,240 square foot freestanding retail building is available for lease in Virginia Beach, Virginia. Located at 840 S Military Hwy, this single-tenant property sits on a 3.2-acre lot and boasts a prime location at the signalized intersection of heavily trafficked Indian River Road (31,200 vehicles per day) and S Military Hwy (56,600 vehicles per day). Built in 2000, the building is zoned B-2: Community Business District, offering significant potential for a variety of retail uses. The property features a convenient drive-thru, a highly desirable amenity for many businesses. Its strategic location less than two miles from the I-64 & I-264 interchange ensures excellent regional accessibility, drawing customers from Virginia Beach, Norfolk, and Chesapeake. The entire 13,240 square feet is currently vacant, presenting a unique opportunity for a business seeking a prominent and highly visible location in a thriving commercial area of Virginia Beach County. The property's size and location make it ideal for a variety of retail concepts. This is a rare opportunity to secure a high-traffic, well-located retail space in a densely populated area.

    Property Features for 840 Military Hwy

    General Information

    Property type
    Retail properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    13,240 SF

    Building Details

    Year Built
    2000

    Unit(s) available at that property

    Space
    Former Rite Aid
    Size
    13,240 SF

    HighLights

    • 3.2‑acre parcel with existing drive‑thru.
    • Ground lease available.
    • Divisible space to accommodate multiple tenants.
    • Prominent pylon signage opportunity.
    • High traffic count exceeding 87,000 vehicles per day at Indian River Road and S. Military Hwy intersection.
    • Fully signalized intersection.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Rite Aid Pharmacy Pharmacy Rite Aid Drug Store Western Union Money Transfer Service Coinhub Bitcoin ATM ... Atm Rite Aid Photo Photo Lab

    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
    Virginia Beach
    County
    Virginia Beach
    State
    Virginia
    Longitude
    -76.2130556
    Latitude
    36.8179516

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    FAQs

    What type of property is this?
    Retail property - High-traffic Virginia Beach retail space.
    Where is this retail property located?
    The property is located at 840 Military Hwy Virginia Beach, VA.
    What are key features of this property?
    This property features: 3.2-acre parcel with existing drive-thru.; Ground lease available.; Divisible space to accommodate multiple tenants.
    Request Owner's contact information
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    Virginia Beach, VA 23464
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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
    840 Military Hwy Virginia Beach, VA 23464
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