614 First Colonial Rd Virginia Beach, VA 23451
- Community centers
- 15,520 SF
- 1.07 lot acres
Current Use by Public Records
- Harygul's Halloween Planet / Costume Store
Property Details for 614 First Colonial Rd
- Year built
- 1977
- Construction
- TYPE NOT SPECIFIED
- Lot size
- 1.07 lot acres
- Property size
- 15,520 SF
- Zone code
- B2
- Property type
- Community centers
- APN
- 24078811310000
- APU
- 24078811310000
Description
This exceptional 4.27-acre development site presents a compelling investment opportunity in Virginia Beach, VA. Strategically located at the high-traffic intersection of Laskin Road and First Colonial Road (38,238 vehicles per day), this property boasts a prime location within a thriving commercial corridor. The site is situated in a high-income demographic area of Hampton Roads, surrounded by major retailers including Walmart Supercenter, Target, Whole Foods, and Trader Joe's. A 0.60-acre parcel is currently leased to Rite Aid, providing immediate income potential. The larger 4.27-acre parcel is available for redevelopment, offering significant upside potential. This property benefits from its location within an Opportunity Zone and a municipal strategic growth area, making it eligible for redevelopment incentives. The site can be purchased as a whole or in separate parcels, providing flexibility for various development scenarios. The asking price for the entire 4.27-acre site is $8,000,000. This is a rare chance to acquire a premier development site in a highly desirable location with significant growth potential. The address is 614 First Colonial Rd, Virginia Beach, VA 23451.
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
- Virginia Beach
- County
- Virginia Beach City
- State
- Virginia
- Longitude
- -76.0213
- Latitude
- 36.849
- CBSA code
- 47260
- CBSA name
- VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC METROPOLITAN STATISTICAL AREA
