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Property profile & analytics
OFF-MARKET
Commercial real estate

701 Court St Portsmouth, VA 23704

0.28 ac lot Built 1960
Property ID
US87-0373332
Property summary
AI-generated overview

This exceptional 0.28-acre commercial property, located at 701 Court Street in Portsmouth, Virginia, presents a unique investment opportunity. Situated on a busy corner lot in the heart of downtown, near major thoroughfares such as Route 264 and the Downtown Tunnel, this property boasts unparalleled visibility and accessibility. The existing building has recently undergone significant improvements, including a brand-new roof and exterior updates to the brick wall, columns, and paint. This demonstrates a commitment to quality and presents a solid foundation for a variety of commercial ventures. The property's versatility allows for single or multi-purpose use, catering to a wide range of business needs. The seller, a Class-A contractor, is prepared to collaborate with the buyer on any necessary renovations, offering a seamless transition and potential for customized development. Please note that the property currently houses an active business during the week, and there are pets on the premises. Access requires notification for security reasons. The chandeliers are excluded from the sale. This is a rare opportunity to acquire a well-maintained, high-traffic commercial property in a thriving downtown area. Don't miss out on this chance to establish your business in a prime Portsmouth location.

Property profile
Verified
Property type Commercial real estate
Year built 1960
Lot 0.28 ac (12,197 SF)
UPID US87-0373332
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
Current use
Occupant on record · Public records
  • RT Atkison Building Corp. General Contractor
Value estimations
Realmo proprietary · 4 methods
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Comparable Approach Comparable
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Owner & transaction history
Owner on record
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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