1.587 Acres of Investment Property in City of Portsmouth!

$405,000
Portsmouth, VA
1.6 acres

2401 Turnpike Road
Portsmouth, VA 23704
United States

This listing is provided by Land and Farms Realty.

Fuel station in City of Portsmouth - A Great Investment Opportunity!

This is a great opportunity to obtain commercial property in the City of Portsmouth, Virginia. The acreage total is 1.587 and is located on 2401 Turnpike Rd three miles from the city of Norfolk with major highways nearby that include I-264 and I-665.   Improvements to this property total around $350,000 which includes ground improvements, fuel tanks, environmental/city permits and paved parking lot.   This is a great investment opportunity to own a managed business because it comes with a twenty year rental agreement with a pay  increase every five years.  In addition to the rental income of roughly $153,000 over a five year period the company also pays the taxes on the property and is responsible for all maintenance.  

Portsmouth, VA is known for its beautiful port along Hampton Roads harbor.  Olde Towne Historic District has great shops and restaurants to enjoy not to mention the scenic Seawall where you find the Lightship Portsmouth Museum and Naval Shipyard Museum.  The water just outside the city is home to the Port of Virginia which is the world’s deepest natural harbor.  You can watch boats come and go as they visit the area.  You can also catch a ride on the Elizabeth River Ferry which connects pedestrians to Norfolk.  There are endless ways to see and enjoy this historical city.  

For more information on this and other land for sale in Portsmouth County, contact Kimberly Edwards at 757-630-8462 or by email at kedwards@mossyoakproperties.com, or visit landandfarmsrealty.com.

Last updated
October 12, 2021
MLS ID / MOPLS ID
22799
Commercial
Address

2401 Turnpike Road
Portsmouth, VA 23704

Acreage
1.59
MLS ID / MOPLS ID
22799
Price
$405,000

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