15.208 Acres in Red Mill Area Virginia Beach
Mixed use site in one of the fastest growing areas of Virginia Beach with 1% retail vacancy
Marketing description
The subject property is 15.208 acres, of which 6.29 acres are upland. Wetland credits can be purchased to create additional upland (See page 6). It is located within the Red Mill trade area of Virginia Beach, enjoys approximately 800’ of frontage on Princess Anne Road, and is located at a signalized intersection shared by Home Depot and Target.
Investment highlights
High Visibility and high barriers to entry
City to support rezoning consistent with Comprehensive Plan
Retail Submarket Vacancy of 2.2%
Dense, affluent residential population with an average household income of $133,688
Signalized intersection with multiple points of ingress/egress - two median breaks
Comprehensive Plan calls for mixed-use – currently zoned AG1
Adjacent to Three Oaks Elementary School with 659 students
Located in transition area – see page 4 for permitted uses
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