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Property profile & analytics
FOR LEASE
Theaters & concert halls

222 Central Park Ave Virginia Beach, VA 23462

246,500 SF Built 2002
Entity Owned 13-yr Hold Absentee Owner ~ Est. High Equity
Property ID
US87-1161590
Property summary
AI-generated overview

This exceptional retail investment opportunity presents 450,000 square feet of prime retail space in the heart of Virginia Beach's Town Center, located at 222 Central Park Ave, Virginia Beach, VA 23462. The property, situated on a substantial 36-acre lot in Lower Norfolk County, offers a unique blend of established tenancy and significant vacancy, presenting a compelling opportunity for expansion or redevelopment. The center currently comprises five suites, with 80,485 square feet of vacant space available for lease, ranging from a minimum of 633 square feet to a maximum contiguous space of 19,937 square feet. This allows for flexibility to accommodate a variety of retail concepts, from small boutiques to larger flagship stores. The Town Center boasts a thriving environment, supported by a substantial daytime population, 934 residences, and the presence of prominent hotels such as The Westin and Hilton. Further enhancing its appeal is the proximity to the Sandler Center, a 1,300-seat performing arts theater, and its strategic location just 11 miles from the Virginia Beach Oceanfront and Norfolk, placing it at the center of a bustling business and shopping district. This property offers a rare chance to capitalize on a high-traffic location within a vibrant and established community. The existing infrastructure and strong surrounding demographics make this an ideal investment for both established and emerging businesses seeking a prominent presence in a prime Virginia Beach location.

Property profile
Verified
Property type Theaters & concert halls
Use group AUDITORIUM
Year built 2002
Construction CONCRETE
Total area 246,500 SF
Zoning code B3A
APN 14775540310005
UPID US87-1161590
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
  • Jeff Rosen Law Firm
  • Willcox Savage Law Firm
  • Mark R. Baumgartner Law Firm
  • Moriarty Joseph P Law Firm
  • Mark E. Slaughter, Attorney at Law Law Firm
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$530k
Owner & transaction history
Armada Hoffler Tower 4 LLC · 13 yrs held
Armada Hoffler Tower 4 LLC
since 2013
Last sale
$500,000
1 recorded transaction
2013
Price N/A
Zoning & alternative use
B3A · Virginia Beach, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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