215 Atlantic Ave - Hospitality FOR SALE


Virginia Beach, VA 23451- Northeast Virginia Beach
$26,500,000 USD
703-577-0123
215 Atlantic Ave, Virginia Beach, VA for Sale
$26,500,000 USD
Hospitality - FOR SALE
1/10
null | Request Cap Rate

215 Atlantic Ave
Virginia Beach, VA 23451
Northeast Virginia Beach


HIGHLIGHTS

  • Premier oceanfront location.
  • Direct access to beach, boardwalk, and adjacent to planned Rudee Park.
  • Desirable redevelopment opportunity.

OVERVIEW

PRIME REDEVELOPMENT OPPORTUNITY C.B.M. Co. is soliciting proposals for the purchase of a premier oceanfront parcel located at 215 Atlantic Avenue, Virginia Beach, VA 23451. This rare opportunity includes a 150’ x 200’ oceanfront lot, currently home to the Schooner Inn. The property is at the southernmost point of the Virginia Beach resort area, bordered by the boardwalk and oceanfront to the east and the planned Rudee Park to the south and west. Favorable zoning allows for higher density redevelopment with minimal setbacks and height restrictions. Visit www.215atlantic.com for more information including a massing study highlighting potential redevelopment potential. See attached RFP document for more details. All proposals due by 5:00 PM EST on 6/27/2025.

FOR SALE DETAILS

PRICE

$26,500,000 USD

PRICE/SF

$548 USD /SF

# OF ROOMS

89

PRICE/ROOM

$297,753 {currency}

CAP RATE

Request Cap Rate

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Schooner Inn

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

6

ROOM ENTRANCE

Exterior

BUILDING CLASS

B

YEAR BUILT

1972

PARKING SPACES

54

LAND DETAILS

LAND ACRES

0.69 AC

LAND SF

29,990 SF

ZONING

OR

APN/PARCEL ID

2427-32-2098,2427-32-2168

ASK ABOUT THIS PROPERTY

Ben YoderC.B.M. Co.More Info
703-577-0123

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Ben YoderC.B.M. Co.More Info
703-577-0123

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.