Shopping Centers in Portsmouth, Virginia, offer a unique investment opportunity for those looking to capitalize on the city's rich history, cultural attractions, and strong economic sectors. As a prime location for businesses, Shopping Centers in Portsmouth provide a platform for entrepreneurs to establish themselves in a city that is home to the historic Norfolk Naval Shipyard and has experienced urban renewal in the downtown area in recent years. These properties can represent a range of investments, from retail spaces to mixed-use developments, offering a diverse range of opportunities for investors. With amenities such as the Olde Towne Business and Historical District, Portsmouth City Park, and the Rivers Casino Portsmouth, Shopping Centers in Portsmouth benefit from a strong infrastructure, including transportation services like the Norfolk International Airport and Interstate 264. The city's strong sports presence, hosting events like the Portsmouth Invitational Tournament, also adds to its appeal. With a population of around 100,000, Portsmouth is an attractive location for businesses and travelers alike, boasting attractions like the Railroad Museum of Virginia and the Portsmouth City Railroad.
Portsmouth's Shopping Centers are part of a larger commercial landscape that includes 3 available listings. In addition to Shopping Centers, the city is home to a range of other property types, including Restaurants, which can be found in areas like the Olde Towne Business and Historical District; Specialty Properties, such as the historic Hawthorn Hotel & Suites at The Governor Dinwiddie Hotel; Land, which can be used for development or redevelopment; and Office Properties, which can be found in areas like the West Norfolk section. With an average price per square foot of $145 USD, an average size of 14,554 square feet, and a largest size of 21,478 square feet, Shopping Centers in Portsmouth offer a range of options for investors. The city's average cap rate of 6% also makes it an attractive location for those looking to invest in commercial properties. Overall, Portsmouth's Shopping Centers are a valuable addition to the city's commercial landscape, offering a unique blend of history, culture, and economic opportunity.
What is the average cap rate for shopping centers in Portsmouth?
The average cap rate for shopping centers in Portsmouth is 6%, making it an attractive investment opportunity for those looking to capitalize on the city's growing economy and tourist attractions, such as the Olde Towne Business and Historical District and the Rivers Casino Portsmouth.
