840 Military Hwy Virginia Beach, VA 23464-1824
Property profile & analytics
840 Military Hwy, Virginia Beach, VA 23464-1824
- Retail space
- 13,195 SF
- 3.26 lot acres
Property ID
US87-0272813
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by 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
Property Details for 840 Military Hwy
- Year built
- 2000
- Construction
- TYPE NOT SPECIFIED
- Lot size
- 3.26 lot acres
- Zone code
- B2
- Property type
- Retail space
- APN
- 14562534220000
- APU
- 14562534220000
Description
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.
Value Estimations
based on Realmo’s proprietary methodology
-
CAP approach
- CAP Return
- Estimation
- 6%
- $2,305,000
- 6.5%
- $2,125,000
- 7%
- $1,975,000
-
Comparable approach
- Method
- Estimation
- AI Estimate
- $1,849,000
Market price range: $440k - $1.88M -
Alternative Use
- Use
- Estimation
- RETAIL STORES
- $3,815,000 Current use
- MEDICAL BUILDING
- $3,105,000 Change: -19% Conversion: Difficult
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Virginia Beach
- County
- Virginia Beach City
- State
- Virginia
- Longitude
- -76.2128
- Latitude
- 36.8182
- CBSA code
- 47260
- CBSA name
- VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2024
$39,848
$2,455,700
$1,569,300
$4,025,000
-
$2,455,700
$1,569,300
$4,025,000
