3601 High St Portsmouth, VA 23707
- Lifestyle centers
- 5,043 SF
- 0.44 lot acres
Current Use by Public Records
- Portsmouth Cleaners / Dry Cleaner
Property Details for 3601 High St
- Year built
- 1961
- Lot size
- 0.44 lot acres
- Property size
- 5,043 SF
- Property type
- Lifestyle centers
- Property subtype
- Power centers
Description
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.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Portsmouth
- County
- Portsmouth City
- State
- Virginia
- Longitude
- -76.347639262474
- Latitude
- 36.835722978873
