4644 George Washington Hwy Portsmouth, VA 23702
- Shopping centers
- 90,025 SF
- 9.63 lot acres
Current Use by Public Records
- Shopping centers
Property Details for 4644 George Washington Hwy
- Year built
- 1988
- Construction
- BRICK
- Lot size
- 9.63 lot acres
- Property size
- 90,025 SF
- Zone code
- GMU
- Property type
- Shopping centers
- Property subtype
- Specialty properties
- APN
- 0457-0010
- APU
- 4570010
Description
This exceptional Portsmouth, Virginia commercial property, Williams Court II, offers a unique investment opportunity. Located at 4644 George Washington Hwy, at the corner of Victory Boulevard, this 90,025 square foot shopping center boasts a prime location in the Northern Chesapeake and Southern Portsmouth area. The property features three available suites, ranging from a minimum of 750 square feet to a maximum contiguous space of 5,520 square feet, ideal for a variety of retail, office, or warehouse uses. The flexible space allows for customization to meet individual business needs. The center is strategically positioned near major transportation arteries, less than two miles from the Thomas Nelson Community College (TCC) Portsmouth Campus and the I-264 on/off ramps, ensuring excellent accessibility. High traffic counts of 23,000 vehicles per day (VPD) on George Washington Highway and 18,000 VPD on Victory Boulevard guarantee significant visibility and foot traffic. Ample parking is available for customers and employees. The property benefits from strong neighboring businesses, including Ollie's Bargain Outlet, Dollar General, and a Food Lion-anchored center reporting above-average sales. This presents a compelling opportunity to establish a presence in a thriving commercial area with highly competitive lease rates. The property is classified as Retail and Office, with a Warehouse subtype and multiple tenancy.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $3,175,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $3,915,000
- 6.5%
- $3,900,000
- 7%
- $4,515,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $4,520,000
- Geo Method
- $3,520,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $3,810,000
- Retail
- $4,320,000
- Mixed-Use
- $4,545,000
- Hospitality
- $4,145,000
- Educational
- $3,820,000
- Residential Income
- $4,280,000
- Energy
- $3,905,000
- Income-Based Land
- $3,655,000
- Food Service
- $4,300,000
Location Insight
- Map
- Local Demand
- City
- Portsmouth
- County
- Portsmouth City
- State
- Virginia
- Longitude
- -76.3267
- Latitude
- 36.799
- CBSA code
- 47260
- CBSA name
- VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC METROPOLITAN STATISTICAL AREA
