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1276 Baker Rd - 2 Phase 524 unit Multi Family

14.69 Acres of Commercial Land Offered at $13,000,000 in Virginia Beach, VA 23455

Commercial Land Virginia Virginia Beach 1276 Baker Rd, Virginia Beach, VA 23455

Investment Highlights

  • Great location - close to Interstate and between downtown Norfolk and Virginia Beach
  • High transient demographics

Executive Summary

-Opportunity Zone property
-Shovel Ready
Great location - close to Interstate and between downtown Norfolk and Virginia Beach

Property Facts

Price $13,000,000 Property Subtype Commercial
Sale Type Investment Proposed Use Apartment Units
No. Lots 1 Total Lot Size 14.69 AC
Property Type Land 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.
Price $13,000,000
Sale Type Investment
No. Lots 1
Property Type Land
Property Subtype Commercial
Proposed Use Apartment Units
Total Lot Size 14.69 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 $13,000,000 Lot Size 14.69 AC
Price Per AC $884,956
Price $13,000,000
Price Per AC $884,956
Lot Size 14.69 AC

Proposed 524 multifamily units with 2-Four story wrap around buildings. 942 parking spaces with structured and surface parking.

Description

The proposed two phase 524 unit project has been rezoned and has received site plan approval. The site is located in an Opportunity Zone which allows investors to receive tax benefits when they invest unrealized capital gains into Opportunity Zone funds for a minimum of 5 years. The project is comprised of 2-Four story wrap around mid-rise buildings

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zoning

Zoning Code A-36 (A-36 Zoning district.)
A-36 (A-36 Zoning district.)
(757) 560-5476

  • Listing ID: 28530759

  • Date on Market: 5/19/2023

  • Last Updated:

  • Address: 1276 Baker Rd, Virginia Beach, VA 23455

The Land Property at 1276 Baker Rd, Virginia Beach, VA 23455 is currently available For Sale. Contact JMS Commercial for more information.

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1276 Baker Rd - 2 Phase 524 unit Multi Family
(757) 560-5476 x

1276 Baker Rd - 2 Phase 524 unit Multi Family

John Merenda

(757) 560-5476

(757) 560-5476

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