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Property profile & analytics
FOR LEASE
Office buildings

1220 High St Portsmouth, VA 23704

1,852 SF 0.77 ac lot Built 1983
Entity Owned 2-yr Hold Free & Clear
Property ID
US87-3980970
Property summary
AI-generated overview

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.

Property profile
Verified
Property type Office buildings
Use group OFFICE BUILDING
Year built 1983
Construction LIGHT FRAME
Total area 1,852 SF
Lot 0.77 ac (33,541 SF)
Zoning code NMU
APN 0038-1310
UPID US87-3980970
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
$315k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$315k
Owner & transaction history
Economic Development Authority Of T · 2 yrs held
Economic Development Authority Of T
since 2024
Last sale
$315,000
2 recorded transactions
2024
$315,000
2005
$285,000
Zoning & alternative use
NMU · Portsmouth, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description

Window signs located in the NMU, GMU, IN, and WF districts; and if consistent with applicable adopted design standards, window signs located in the MU-H district Signs oriented toward the interior of and intended to be viewed from within an outdoor recreation or entertainment establishment or facility Outdoor Advertising Signs (Billboards) These signs requir…

Zone name Neighborhood Mixed Use
General category MIXED_USE
Zone area 190.25 ac
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