614 1st Colonial Rd Virginia Beach, VA 23451

This exceptional 4.27-acre development site presents a compelling investment opportunity in Virginia Beach, VA. Strategically located at the high-traffic intersection of Laskin Road and First Colonial Road (38,238 vehicles per day), this property boasts a prime location within a thriving commercial corridor. The site is situated in a high-income demographic area of Hampton Roads, surrounded by major retailers including Walmart Supercenter, Target, Whole Foods, and Trader Joe's. A 0.60-acre parcel is currently leased to Rite Aid, providing immediate income potential. The larger 4.27-acre parcel is available for redevelopment, offering significant upside potential. This property benefits from its location within an Opportunity Zone and a municipal strategic growth area, making it eligible for redevelopment incentives. The site can be purchased as a whole or in separate parcels, providing flexibility for various development scenarios. The asking price for the entire 4.27-acre site is $8,000,000. This is a rare chance to acquire a premier development site in a highly desirable location with significant growth potential. The address is 614 First Colonial Rd, Virginia Beach, VA 23451.