211-215 High Street
33,800 SF Prime Redevelopment Opportunity in Olde Towne Portsmouth
Marketing description
±33,800 SF Historic Retail Building located in the heart of Olde Towne Portsmouth, one of Virginia's most established and walkable downtown districts. This Prime Redevelopment Opportunity is ideal for mixed-use, multifamily conversion, hospitality, entertainment, office, retail, or adaptive reuse concepts.
The property features prominent High Street frontage with exceptional visibility along Portsmouth's primary commercial corridor. Located within an Opportunity Zone, the property provides potential tax advantages for qualified investors. Large floor plates offer flexibility for a variety of redevelopment and repositioning strategies, while strong historic character with architectural features is suitable for creative adaptive reuse projects.
This walkable urban environment provides access to dining, entertainment, residential neighborhoods, and municipal services. The property is minutes from Downtown Norfolk via the Elizabeth River Ferry, Downtown Tunnel, and Midtown Tunnel. The growing residential base is supported by continued public and private investment throughout Olde Towne and Downtown Portsmouth.
Offered at $2,535,000 ($75 PSF), this vacant building allows immediate redevelopment without tenant displacement concerns and is positioned to benefit from ongoing revitalization efforts occurring throughout Portsmouth's downtown waterfront district.
Investment highlights
- ±33,800 SF Historic Retail Building located in the heart of Olde Towne Portsmouth, one of Virginia's most established and walkable downtown districts
- Prime Redevelopment Opportunity ideal for mixed-use, multifamily conversion, hospitality, entertainment, office, retail, or adaptive reuse concepts
- Prominent High Street Frontage with exceptional visibility along Portsmouth's primary commercial corridor
- Strategic Downtown Location surrounded by restaurants, breweries, retailers, government offices, and waterfront attractions
- Located Within an Opportunity Zone, providing potential tax advantages for qualified investors
- Large Floor Plates offer flexibility for a variety of redevelopment and repositioning strategies
- Strong Historic Character with architectural features suitable for creative adaptive reuse projects
- Walkable Urban Environment with access to dining, entertainment, residential neighborhoods, and municipal services
- Minutes from Downtown Norfolk via the Elizabeth River Ferry, Downtown Tunnel, and Midtown Tunnel
- Growing Residential Base supported by continued public and private investment throughout Olde Towne and Downtown Portsmouth
- Potential Historic Tax Credits and other redevelopment incentives available subject to buyer verification
- Rare Scale for Olde Towne Portsmouth with ±33,800 SF under one roof, providing opportunities not commonly available in the market
- Offered at $2,535,000 ($75 PSF), presenting an attractive basis relative to replacement cost and redevelopment potential
- Vacant Building Allows Immediate Redevelopment without tenant displacement concerns
- Positioned to Benefit from Ongoing Revitalization Efforts occurring throughout Portsmouth's downtown waterfront district
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