817 High StPortsmouth, VA 23704

Property Details for 817 High St

Year built

1941

Lot size

0.20 AC

Property size (Sq ft)

7,067 SF

Zone code

T5

Property type

Retail properties

Property subtype

Other retail properties

APN

0049-0140

APU

490140

Description

This exceptional 1.06-acre commercial land parcel, located at 817-833 High Street in Portsmouth, Virginia (zip code 23704), presents a remarkable redevelopment opportunity. The property is ideally situated for a variety of uses, including multi-family residential, multiple retail stores, a restaurant, or flexible commercial space. The lot's size and location offer significant potential for a substantial development project. Specifically, the lot at 833 High Street offers ample space for a new building or a dedicated parking area. Adding to its appeal, an adjacent property is also available for purchase, presenting the possibility of a larger, more comprehensive development. This corner lot provides excellent visibility and accessibility, making it an attractive location for businesses and residents alike. The property is further enhanced by its location on a bus line and the presence of a fence around the perimeter. The asking price for this prime redevelopment opportunity is $1,195,000. This is a rare chance to acquire a significant piece of commercial real estate in a thriving Virginia city. Don't miss this chance to shape the future of this vibrant area.

• CAP approach

  CAP return

  Valuation

  6%

  $2,193,707

  6.5%

  $2,024,960

  7%

  $1,880,320

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,281,905

  Geo Method

  $2,974,254

• Alternative Use

  Use

  Valuation

  Residential

  $1,708,130

  Hospitality

  $1,564,638

  Educational

  $1,301,760

  Medical

  $1,346,530

  Retail

  $2,024,960

Location Insight

City

Portsmouth

County

Portsmouth City

State

Virginia

Latitude

36.8347

Longitude

-76.3077

CBSA code

47260

CBSA name

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

Property Tax & Assessments

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