58 Holland Rd Suffolk, VA 23437
This exceptional 2.62-acre commercial land parcel, located on Route 58 Holland Road in Suffolk, Virginia (zip code 23437), presents a prime development opportunity. Currently zoned O-I (General Commercial), the property boasts a fully approved site plan, ideal for retail or office development. With approximately 1480 feet of frontage along Route 58/Holland Road, this site offers excellent visibility and accessibility. Its strategic location near the Food Lion Shopping Center ensures high traffic volume and convenient access for potential tenants or businesses. The property's versatility extends to the possibility of creating an outparcel to suit individual buyer or user needs. The asking price is $500,000, translating to approximately $171,821 per acre. Further enhancing its appeal, the site enjoys excellent access to US 13. While currently zoned for commercial use, there is potential for rezoning to residential use, expanding development possibilities. Detailed information regarding the Route 58/Holland Road Corridor Road Widening project is available upon request. This is a rare opportunity to acquire a well-situated, fully approved commercial development site in a thriving area of Suffolk, Virginia.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendComparables
6 recent transactions · within 1.5 miComparable in this City
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Property description
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Risks
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