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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
Nearby Locations