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Property profile & analytics
OFF-MARKET Estimated value $3,825,000
Shopping centers

4644 George Washington Hwy Portsmouth, VA 23702-2406

90,025 SF 9.63 ac lot Built 1988
Entity Owned 3-yr Hold ~ Est. High Equity
Property ID
US87-0820122
Property summary
AI-generated overview

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.

Property profile
Verified
Property type Shopping centers
Use group SHOPPING CENTER COMMON AREA
Year built 1988
Construction BRICK
Total area 90,025 SF
Lot 9.63 ac (419,657 SF)
Zoning code GMU
APN 0457-0010
UPID US87-0820122
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
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
$3.93M
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$3.83M
Owner & transaction history
Bhg Capital LLC · 3 yrs held
Bhg Capital LLC
since 2023
Last sale
$4.1M
4 recorded transactions
2023
$4.1M
2020
$575,000
2008
Price N/A
2004
$725,000
Zoning & alternative use
GMU · Portsmouth, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general) $6.2M +110.2%
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