Princess Anne Rd And Elson Grn Ave Virginia Beach, VA 23456

This exceptional 15.208-acre property presents a unique investment opportunity in Virginia Beach's rapidly expanding Red Mill area. Boasting approximately 800 feet of frontage on Princess Anne Road, this strategically located site sits at a signalized intersection with Home Depot and Target, ensuring high visibility and accessibility. The land is currently zoned AG1, but the city is supportive of rezoning consistent with the Comprehensive Plan, which designates this area for mixed-use development. While 6.29 acres are upland, wetland credits are available to increase developable land. This prime location benefits from a dense, affluent residential population with an average household income of $133,688, and a low retail submarket vacancy rate of 2.2%. The property offers multiple points of ingress/egress via two median breaks, enhancing its functionality. Its proximity to Three Oaks Elementary School (659 students) further underscores its potential. The asking price is $4,222,400, translating to $280,000 per acre. This represents a rare chance to acquire a high-impact site in a thriving market with significant upside potential. Detailed information regarding permitted uses is available upon request. The parcel number is 24141415320000.