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Listed by Brent Miller • SVN/Miller Commercial Real Estate
$ 4,600,000
Est. payment | /mo
11.47 Acres Lot
$ 4,600,000
Est. payment | /mo
11.47 Acres Lot
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
MLS Listing ID VAAC2002868
Year Built 1995
Annual Tax Amount $13,365
Tax Year 2026
Lot Size 11.470 Acres
Acres 11.47
Property Sub-Type Mixed Use
Source BRIGHT
Property Description
Colonial Square is a well-established, income-producing office and retail complex occupying a commanding position on U.S. Route 13 — the primary commercial corridor of Virginia's Eastern Shore. Strategically situated in Belle Haven, Accomack County, this 40-unit complex offers an investor a rare opportunity to acquire a large-scale, multi-tenant asset with a diversified and stable rent roll in an underserved and growing coastal market. The property is being offered at a 7.5% cap rate and is 99% occupied - home to tenants including Enterprise Cars, Legal Aid of VA, H&R Block, Sharp Energy, Virginia Game and Fisheries Police Dept, and many more! Long-term owner/developer will leaseback and assist with a smooth transition to new ownership.
The subject parcel spans 11.47 acres and encompasses all improvements, comprising approximately 61,498 square feet of gross building area across a single-story, multi-building campus. The property is served by well and septic. The property enjoys frontage on three roadways: Lankford Highway (Route 13), Merry Cat Lane, and King Street, with two dedicated interior roadways — Arthurs Court and LeCato Road — providing on-site circulation and access. Ample surface parking (100+ designated spaces) accommodates the property's diverse tenant mix.
Capital improvements of over $519,000 have been invested across 2023–2025, reflecting the current owner's commitment to maintaining and enhancing the asset. With consistent improvement year over year, the property is well-positioned for a new owner to benefit from stabilized, below-market rents and a captive, long-tenured tenant base.
Interior video: https://canva.link/50jjp99yqp9lv02
Exterior video: https://canva.link/nmcpd7sxzeetbw8
*Rent Roll and additional financials are available to qualified buyers with a signed NDA. Please DO NOT DISTURB tenants! Tours can be scheduled with qualified buyers with submitted LOI*
The subject parcel spans 11.47 acres and encompasses all improvements, comprising approximately 61,498 square feet of gross building area across a single-story, multi-building campus. The property is served by well and septic. The property enjoys frontage on three roadways: Lankford Highway (Route 13), Merry Cat Lane, and King Street, with two dedicated interior roadways — Arthurs Court and LeCato Road — providing on-site circulation and access. Ample surface parking (100+ designated spaces) accommodates the property's diverse tenant mix.
Capital improvements of over $519,000 have been invested across 2023–2025, reflecting the current owner's commitment to maintaining and enhancing the asset. With consistent improvement year over year, the property is well-positioned for a new owner to benefit from stabilized, below-market rents and a captive, long-tenured tenant base.
Interior video: https://canva.link/50jjp99yqp9lv02
Exterior video: https://canva.link/nmcpd7sxzeetbw8
*Rent Roll and additional financials are available to qualified buyers with a signed NDA. Please DO NOT DISTURB tenants! Tours can be scheduled with qualified buyers with submitted LOI*
Location
State VA
County Accomack
Zoning B-1
Interior
Hot Water Electric
Heating Central
Cooling Central A/C
Heat Source Electric
Exterior
Garage Spaces 160.0
Water Access N
Accessibility None
Total Parking Spaces 160
Garage N
Building
Sewer On Site Septic
Water Well
New Construction N
Schools
School District Accomack County Public Schools
Others
Tax ID NO TAX RECORD
Ownership Fee Simple
Special Listing Condition Standard
Schools and Properties Nearby
Learn More About LPT Realty
Patrick Smith
Realtor | License ID: 658929