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Property profile & analytics
OFF-MARKET Estimated value $2,345,000
Retail space

840 Military Hwy Virginia Beach, VA 23464-1824

13,195 SF 3.26 ac lot Built 2000
Entity Owned 6-yr Hold Absentee Owner ~ Est. High Equity
Property ID
US87-0272813
Property summary
AI-generated overview

This exceptional 13,240 square foot freestanding retail building is available for lease in Virginia Beach, Virginia. Located at 840 S Military Hwy, this single-tenant property sits on a 3.2-acre lot and boasts a prime location at the signalized intersection of heavily trafficked Indian River Road (31,200 vehicles per day) and S Military Hwy (56,600 vehicles per day). Built in 2000, the building is zoned B-2: Community Business District, offering significant potential for a variety of retail uses. The property features a convenient drive-thru, a highly desirable amenity for many businesses. Its strategic location less than two miles from the I-64 & I-264 interchange ensures excellent regional accessibility, drawing customers from Virginia Beach, Norfolk, and Chesapeake. The entire 13,240 square feet is currently vacant, presenting a unique opportunity for a business seeking a prominent and highly visible location in a thriving commercial area of Virginia Beach County. The property's size and location make it ideal for a variety of retail concepts. This is a rare opportunity to secure a high-traffic, well-located retail space in a densely populated area.

Property profile
Verified
Property type Retail space
Use group RETAIL STORES (PERSONAL SERVICES)
Year built 2000
Construction TYPE NOT SPECIFIED
Total area 13,195 SF
Lot 3.26 ac (142,110 SF)
Zoning code B2
APN 14562534220000
UPID US87-0272813
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
  • Rite Aid Pharmacy Pharmacy
  • Rite Aid Pharmacy
  • Western Union Bank Credit Union
  • Coinhub Bitcoin ATM Teller Atm
  • Rite Aid Photo (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
$2.13M
Comparable Approach Comparable
$1.85M
Blend (final) Blend
$2.35M
Owner & transaction history
840 S Military Va Bk Owner LLC · 6 yrs held
840 S Military Va Bk Owner LLC
since 2020
1 recorded transaction
2020
$3.8M
Zoning & alternative use
B2 · Virginia Beach, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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