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Property profile & analytics
FOR LEASE
Grocery and convenience stores

1920 Centerville Tpke Virginia Beach, VA 23464

54,780 SF 15.41 ac lot Built 1988
Entity Owned 14-yr Hold Absentee Owner ~ Est. High Equity
Property ID
US87-0665718
Property summary
AI-generated overview

This exceptional 152,314 square foot shopping center, situated at 1920 Centerville Turnpike in Virginia Beach, VA (zip code 23464), presents a compelling investment opportunity. Built in 1988 and zoned B-2, the property boasts 568 free surface parking spaces, ensuring ample convenience for customers. Currently, there are four available retail spaces ranging from 1,481 to 1,600 contiguous square feet, totaling 4,681 square feet of vacant space. The minimum divisible space is 1,481 square feet. Strategically located at the intersection of Centerville Turnpike and Kempsville Road, this center benefits from high visibility and accessibility. Its prime location is approximately one mile from Regent University and the Founders Inn Hotel and Conference Center, ensuring a robust customer base. Anchored by a Food Lion and Dollar General, this attractive community shopping center thrives in the heart of Kempsville, Virginia Beach's most densely populated submarket. This property offers a unique chance to establish or expand a business within a thriving retail environment. The property's strong location and established anchors make it an ideal investment for discerning buyers seeking a high-traffic retail space in a desirable area.

Property profile
Verified
Property type Grocery and convenience stores
Use group GROCERY, SUPERMARKET
Year built 1988
Construction TYPE NOT SPECIFIED
Total area 54,780 SF
Lot 15.41 ac (671,129 SF)
Zoning code B2
APN 14559143450000
UPID US87-0665718
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
Current use
Occupant on record · Public records
  • Fantasy Tattoo Company Tattoo & Piercing Shop
  • 3 Amigos Mexican Restaurant Restaurant
  • DIY Treasures & Gifts (Bike/Boat/Book/etc) Store
  • Utopia Restaurant & Lounge Restaurant
  • Centerville Tobacco & Vape (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
$8.83M
Comparable Approach Comparable
$4.75M
Blend (final) Blend
$7.26M
Owner & transaction history
Wcsc LLC · 14 yrs held
Wcsc LLC
since 2012
2 recorded transactions
2012
Price N/A
1969
Price N/A
Zoning & alternative use
B2 · Virginia Beach, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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