6267 Professional DrGloucester, VA 23061

Property Details for 6267 Professional Dr

Year built

1996

Lot size

0.57 AC

Property size (Sq ft)

2,596 SF

Zone code

B-1

Property type

Office properties

Property subtype

Office buildings

APN

44242

APU

44242

Description

This exceptional 2,596 square foot commercial building, situated on a 0.57-acre lot at 6267 Professional Drive in Gloucester, Virginia, presents a compelling investment opportunity. Currently generating $3,000 per month in rental income, the property offers significant flexibility. The existing tenant has a lease with an option to extend for an additional five years or vacate within three months, catering to both investors seeking immediate returns and owner-operators looking for a quick transition. The single-level brick building is exceptionally well-maintained, requiring minimal upkeep, and boasts a robust capitalization rate, ensuring a strong return on investment. Its B-1 zoning allows for a diverse range of uses, including retail, office space, or mixed-use development, maximizing its potential for future growth and adaptation to market demands. The prime location, conveniently situated just off Short Lane and directly across from Gloucester High School, provides excellent visibility and accessibility, attracting a wide pool of potential tenants. This property is an ideal choice for those seeking to expand their investment portfolio or establish a new business in a thriving community. The combination of high rental income, low maintenance, and versatile zoning makes this a truly exceptional opportunity.

• CAP approach

  CAP return

  Valuation

  6%

  $548,190

  6.5%

  $506,021

  7%

  $469,877

• Comparable approach

  Method

  Valuation

  Relative Method

  $332,634

  Geo Method

  $433,558

• Alternative Use

  Use

  Valuation

  Residential

  $627,466

  Hospitality

  $574,756

  Educational

  $478,190

  Medical

  $494,636

  Retail

  $743,851

Location Insight

City

Gloucester

County

Gloucester

State

Virginia

Latitude

37.3847

Longitude

-76.5311

CBSA code

47260

CBSA name

VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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