Individually Owned Property summary
This exceptional 0.4-acre commercial land parcel, located at 3745 Shore Drive in Virginia Beach, VA 23455, presents a compelling investment opportunity for builders and developers. The property is zoned B2, offering flexibility for a variety of commercial uses. Currently on the site is an existing retail building of 2,510 square feet and a separate shed measuring 576 square feet. These structures could be repurposed, renovated, or removed to accommodate a new development. The property's prime location offers convenient access to the Chesapeake Bay, enhancing its appeal and potential for various commercial ventures. The auction date is scheduled for September 5th, 2023, at 12:30 PM, with live on-site bidding. Pre-auction offers will be considered. This is a rare chance to acquire a well-situated commercial lot in a thriving Virginia Beach location. Don't miss this chance to capitalize on this prime development opportunity. The property's latitude and longitude coordinates are 36.90778332394625 and -76.10224844303596 respectively.
Property profile
VerifiedCap rate & NOI
Current use
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Motorcycle Shop
Location
Value estimations
Owner & transaction history
Zoning & alternative use
The purpose of the B-2 Community Business District is to provide land needed for community wide business establishments. This district is intended for general application in the city. It is intended that, by the creation…
Comparables
6 recent transactions · within 1.5 miComparable in this City
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Value estimation
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Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
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Estimated NOI ÷ last recorded sale. Refine with your own numbers in the full report.
Price sensitivity
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Property tax & assessments
Tax year 2024Property description
Physical attributes from public recordsZoning & alternative use
B2 · Virginia Beach, VAThe purpose of the B-2 Community Business District is to provide land needed for community wide business establishments. This district is intended for general application in the city. It is intended that, by the creation…
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
Official district profile
The purpose of the B-2 Community Business District is to provide land needed for community wide business establishments. This district is intended for general application in the city. It is intended that, by the creation…
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for B2 in Virginia Beach, VA.
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