1220 High St Portsmouth, VA 23704
- Office buildings
- 1,852 SF
- 0.77 lot acres
Current Use by Public Records
- Office buildings
Property Details for 1220 High St
- Year built
- 1983
- Construction
- LIGHT FRAME
- Lot size
- 0.77 lot acres
- Property size
- 1,852 SF
- Zone code
- NMU
- Property type
- Office buildings
- APN
- 0038-1310
- APU
- 381310
Description
This exceptional freestanding retail building, situated in the desirable Mid-City submarket, offers a single-tenant occupancy of 1,886 square feet. Constructed in 1983, the property boasts a single-story design, providing convenient and efficient use of space. The building is well-maintained and features recent upgrades, including a brand new HVAC system and energy-efficient LED lighting in the parking lot. The interior includes a spacious shop area conveniently equipped with a roll-up door, ideal for loading and unloading merchandise or providing easy access for customers. This property presents a fantastic opportunity for a variety of retail businesses seeking a high-visibility location in a thriving commercial area. Its single-tenant configuration offers simplicity and control, while the modern upgrades ensure efficient and cost-effective operation. The strategic location within the Mid-City submarket guarantees high foot traffic and excellent exposure to potential customers. This is an ideal investment for owner-occupiers or savvy investors seeking a stable and profitable retail property. The property's size and features make it suitable for a wide range of retail concepts, offering significant potential for growth and return on investment. Serious inquiries are encouraged to explore this exceptional opportunity further.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $315,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $300,000
- 6.5%
- $300,000
- 7%
- $280,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $280,000
- Geo Method
- $265,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $290,000
- Retail
- $255,000
- Mixed-Use
- $265,000
- Hospitality
- $250,000
- Educational
- $280,000
- Residential Income
- $305,000
- Energy
- $310,000
- Income-Based Land
- $280,000
- Food Service
- $330,000
Location Insight
- Map
- Local Demand
- City
- Portsmouth
- County
- Portsmouth City
- State
- Virginia
- Longitude
- -76.3135
- Latitude
- 36.8355
- CBSA code
- 47260
- CBSA name
- VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC METROPOLITAN STATISTICAL AREA
