Technical
Financial
Distress signals
Property profile

2052 Independence Blvd Ste 8 Virginia Beach, VA 23453

OFF-MARKET
Community centers
Property ID
US87-0852480
11,970 SF 1.35 ac lot Built 1998
Entity Owned 4-yr Hold Absentee Owner Free & Clear
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Property summary

AI-generated overview

The Princess Anne Marketplace is a 26,578-square-foot retail shopping center in Virginia Beach, Virginia, constructed in 1998 and 1999. It comprises two freestanding retail centers located at 2052 and 2076 S Independence Blvd, configured to support multiple tenant spaces and currently operating with a fully leased tenant occupancy based on the listing’s historical description, with an indicated weighted average lease term of 6.5 years. The centers sit within a larger retail area that includes a 111,966-square-foot Target as an anchor. The property is positioned at the intersection of S Independence Blvd and Princess Anne Rd, where traffic volumes are described as 75,000 vehicles per day. Tenant mix at 2076 S Independence Blvd has included services such as Ivy Rehab, Jackson Hewitt Tax Service, and Acredale Animal Hospital, while 2052 S Independence Blvd has included insurance providers State Farm and Direct Auto Insurance and restaurant/food concepts including Dunkin’, Papa John’s, Golden China, A&M Finest Deli, and Sweet Frog. The site is within the Hampton Roads MSA, a market supported by the United States Navy and the Port of Virginia.

Property profile

Verified
Property type Community centers
Use group MINI-MALL
Year built 1998
Construction TYPE NOT SPECIFIED
Total area 11,970 SF
Lot 1.35 ac (58,640 SF)
Zoning code PDH1
APN 14852651840000
UPID US87-0852480

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Location

2052 Independence Blvd Ste, Unit 8 Virginia Beach, VA 23453-4775
Virginia Beach metro Census 46013 VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$7.84M
CAP Approach CAP
by Request
Comparable Approach Comparable
$5.01M
Blend (final) Blend
$7.81M

Owner & transaction history

since 2022
Last sale
$8.6M
3 recorded transactions
2023
Price N/A
2022
$250,000
2014
Price N/A

Zoning & alternative use

PDH1 · Virginia Beach, VA
Zoning description

It is the intent not to create additional PD-H1 Districts, or to enlarge the limits of existing PD-H1 Districts. It is only the intent of this article to recognize those areas currently developed, being developed, or pro…

General category PLANNED_DEVELOPMENT
Top alternative use upside
Auto repair, garage $8.5M +100.8%
Restaurant $5.4M +27.8%

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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