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614 First Colonial Rd 4.27 Acres of Commercial Land Offered at $8,000,000 in Virginia Beach, VA 23451

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INVESTMENT HIGHLIGHTS

Site is situated in an Opportunity Zone and municipal strategic growth area.
Can be purchased together or separately.

Redevelopment incentives are available.
Parcels Located at the Laskin Road and First Colonial Road Intersection - 38,238 VPD.

EXECUTIVE SUMMARY

Redevelopment incentives are available.

614 First Colonial Road Flyer

PROPERTY FACTS

Price	$8,000,000	Property Subtype	Commercial
Sale Type	Investment	Proposed Use	Commercial Retail
Sale Condition	Redevelopment Project	Total Lot Size	4.27 AC
No. Lots	1	Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Property Type	Land

Price	$8,000,000
Sale Type	Investment
Sale Condition	Redevelopment Project
No. Lots	1
Property Type	Land
Property Subtype	Commercial
Proposed Use	Commercial Retail
Total Lot Size	4.27 AC
Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.

1 LOT AVAILABLE

Lot

Price	$8,000,000	Lot Size	4.27 AC
Price Per AC	$1,873,536.30

Price	$8,000,000
Price Per AC	$1,873,536.30
Lot Size	4.27 AC

Can be purchased together or separately.

DESCRIPTION

This prime retail site features 4.27 acres of land that may be redeveloped and .6 acres that is currently leased to Rite Aid. The parcel is located in between Walmart SuperCenter, Target, Whole Foods, and Trader Joe's. The site is situated in an Opportunity Zone and municipal strategic growth area. Located in the highest income demographic in Hampton roads, this parcel has great frontage on Laskin Rd and First Colonial Rd and offers redevelopment incentives.