2858-2884 Airline Blvd - Storefront FOR SALE


Portsmouth, VA 23701
$7,175,000 USD
757-286-1783
2858-2884 Airline Blvd, Portsmouth, VA for Sale
$7,175,000 USD
Storefront - FOR SALE
1/9
null | 10% Cap Rate

2858-2884 Airline Blvd
Portsmouth, VA 23701


OVERVIEW

100% leased experiential retail center anchored by LeMans Karting and Dollar General Recent 10-year lease terms for 61% of the GLA Below market rents and priced well below replacement cost Huge upside potential with pad sites available for development and increased rents upon lease renewals Many recent upgrades to include new tenancies, LED lighting, roofing, paving and painting Hampton Roads is the 35th largest MSA in the USA with the largest concentration of military bases in the world One mile from new Rivers Casino with over 2.5M visitors in 2025 The Landing Hotel Portsmouth, a 106-room luxury hotel, opens February 2027

FOR SALE DETAILS

PRICE

$7,175,000 USD

PRICE/SF

$45 USD /SF

CAP RATE

10%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Victory West Shopping Center

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1963

SPRINKLERS

-

PARKING SPACES

466

LAND DETAILS

CROSS STREETS

City Park Ave

LAND ACRES

12 AC

LAND SF

522,720 SF

ZONING

C-2

APN/PARCEL ID

0577-0200

ASK ABOUT THIS PROPERTY

Michael ZarpasGlobal Real Estate InvestmentMore Info
757-286-1783

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Michael ZarpasGlobal Real Estate InvestmentMore Info
757-286-1783

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