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Victory West Shopping Center 2858-2884 Airline Blvd 157,820 SF 100% Leased Retail Building Portsmouth, VA 23701 $9,766,395 CAD ($61.88 CAD/SF) 10% Cap Rate
Executive Summary
100% leased experiential retail center anchored by LeMans Karting and Dollar General
Recent 10-year lease terms for 61% of the GLA
Below market rents and priced well below replacement cost
Huge upside potential with pad sites available for development and increased rents upon lease renewals
Many recent upgrades to include new tenancies, LED lighting, roofing, paving and painting
Hampton Roads is the 35th largest MSA in the USA with the largest concentration of military bases in the world
One mile from new Rivers Casino with over 2.5M visitors in 2025
The Landing Hotel Portsmouth, a 106-room luxury hotel, opens February 2027
Recent 10-year lease terms for 61% of the GLA
Below market rents and priced well below replacement cost
Huge upside potential with pad sites available for development and increased rents upon lease renewals
Many recent upgrades to include new tenancies, LED lighting, roofing, paving and painting
Hampton Roads is the 35th largest MSA in the USA with the largest concentration of military bases in the world
One mile from new Rivers Casino with over 2.5M visitors in 2025
The Landing Hotel Portsmouth, a 106-room luxury hotel, opens February 2027
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront
Building Size
157,820 SF
Building Class
C
Year Built/Renovated
1963/2005
Price
$9,766,395 CAD
Price Per SF
$61.88 CAD
Cap Rate
10%
NOI
$976,659 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.30
Lot Size
12.00 AC
Zoning
C-2
Parking
466 Spaces (4.1 Spaces per 1,000 SF Leased)
Frontage
766’ on Airline Blvd
Amenities
- Bus Line
- Pylon Sign
- Signalized Intersection
Major Tenants Click Here to Access
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
- Black Sheep Airsoft
- Arts, Entertainment, and Recreation
- -
-
$9.99
-
Lorem Ipsum
-
Jan 0000
- C.U.T.S. Youth Employment Program
- Services
- -
-
$9.99
- -
-
Jan 0000
- Peculiar Hair and Wig
- Retailer
- -
-
$9.99
-
Lorem Ipsum
-
Jan 0000
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
| Black Sheep Airsoft | Arts, Entertainment, and Recreation | - | $9.99 | Lorem Ipsum | Jan 0000 | |
| C.U.T.S. Youth Employment Program | Services | - | $9.99 | - | Jan 0000 | |
| Peculiar Hair and Wig | Retailer | - | $9.99 | Lorem Ipsum | Jan 0000 |
Space Availability
- Space
- Size
- Space Use
- Position
- Available
- 2884-B
- 5,146 SF
- Retail
- -
- Now
| Space | Size | Space Use | Position | Available |
| 2884-B | 5,146 SF | Retail | - | Now |
2884-B
| Size |
| 5,146 SF |
| Space Use |
| Retail |
| Position |
| - |
| Available |
| Now |
Nearby Major Retailers
Property Taxes
| Parcel Number | 0577-0200 | Improvements Assessment | $2,132,450 CAD |
| Land Assessment | $2,576,848 CAD | Total Assessment | $4,709,298 CAD |
Property Taxes
Parcel Number
0577-0200
Land Assessment
$2,576,848 CAD
Improvements Assessment
$2,132,450 CAD
Total Assessment
$4,709,298 CAD
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Victory West Shopping Center | 2858-2884 Airline Blvd
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