Technical
Financial
Distress signals
Property profile

528 1st Colonial Rd Virginia Beach, VA 23451

OFF-MARKET
Community centers
Property ID
US87-0963196
4,443 SF 0.91 ac lot Built 1979
Entity Owned 10-yr Hold Absentee Owner ~ Est. High Equity
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Property summary

AI-generated overview

This exceptional retail property, located at 528-550 First Colonial Road in Virginia Beach, VA 23451, offers a prime opportunity for businesses seeking high visibility and strong foot traffic. The shopping center encompasses a substantial 270,093 square feet and sits on a generous 16.09-acre lot. Built in 1998, the property is zoned as "7" within Virginia Beach city. Multiple tenancies are currently in place, creating a vibrant and thriving retail environment. For prospective tenants, there is currently 13,280 square feet of vacant space available, divisible into units as small as 5,000 square feet, with a maximum contiguous space of 8,280 square feet. The property's strategic location in Virginia Beach ensures excellent access to a large customer base. This is an ideal opportunity for retailers seeking a well-established location with significant potential for growth. The property's size and layout offer flexibility for a variety of retail uses. Interested parties should inquire about available space and lease terms. The property's location provides easy access to major roadways and ample parking for customers and employees. This is a rare opportunity to secure retail space in a highly desirable location within a thriving shopping center.

Property profile

Verified
Property type Community centers
Use group MINI-MALL
Year built 1979
Construction TYPE NOT SPECIFIED
Total area 4,443 SF
Lot 0.91 ac (39,623 SF)
Zoning code B2
APN 24078732750000
UPID US87-0963196

Cap rate & NOI

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

Current use

Occupant on record · Public records
  • Car Wash

Location

528 1st Colonial Rd Virginia Beach, VA 23451-6120
Virginia Beach metro Census 44805 VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$290k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$340k

Owner & transaction history

since 2016
3 recorded transactions
2022
Price N/A
2016
Price N/A
1969
Price N/A

Zoning & alternative use

B2 · Virginia Beach, VA
Zoning description

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…

General category COMMERCIAL

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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