Near-Earth asteroids (NEAs) that may evolve into impactors deserve detailed threat assessment studies. Early physical characterization of a would-be impactor may help in optimizing impact mitigation plans. We first detected NEA 2023 DZ2 on 27 February 2023. After that, it was found to have a minimum orbit intersection distance (MOID) with Earth of 0.00005au as well as an unusually high initial probability of becoming a near-term (in 2026) impactor. We perform a rapid but consistent dynamical and physical characterization of 2023 DZ2 as an example of a key response to mitigating the consequences of a potential impact. We used a multi-pronged approach, drawing from various methods (observational-computational) and techniques (spectroscopy-photometry from multiple instruments), and bringing the data together to perform a rapid and robust threat assessment. The visible reflectance spectrum of 2023 DZ2 is consistent with that of an X-type asteroid. Light curves of this object obtained on two different nights give a rotation period P=6.2743+/-0.0005 min with an amplitude A=0.57+/-0.14mag. We confirm that although its MOID is among the smallest known, 2023 DZ2 will not impact Earth in the foreseeable future as a result of secular near-resonant behaviour. Our investigation shows that coordinated observation and interpretation of disparate data provides a robust approach from discovery to threat assessment when a virtual impactor is identified.