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    1634 London Blvd Portsmouth, VA 23704

    For Sale
    $2,400,000

    Large Office Building, 3.5 Acres, Leased

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    311
    This exceptional commercial property, located at 1634 London Boulevard in Portsmouth, Virginia, presents a unique investment opportunity. The 21,423 square foot all-brick office building, constructed in 1972 and extensively remodeled in 2004, sits on a generous 3.5-acre lot adjacent to a tidal creek. The property boasts ample parking with 96 spaces, including 4 designated handicap spaces. The building itself features 46 individual offices, three spacious conference areas, and four bathrooms. Currently leased until December 31, 2024, the tenant has expressed interest in leasing half the building for a further five-year term commencing January 1, 2025. This provides immediate income potential and long-term lease security. The property is strategically located outside of any designated flood zone, offering peace of mind to investors. While adjacent land is within a flood plain, the main building itself is unaffected. This prime location, combined with the substantial size and existing lease, makes this a highly attractive investment opportunity in the thriving Portsmouth market. The property's significant features, including its size, location, and existing lease, make it an ideal investment for discerning buyers.

    Property Features for 1634 London Blvd

    General Information

    Property type
    Other commercial real estate
    Lot Size
    152,460 SF

    Building Details

    Year Built
    1972
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    First Home Care ... Mental Health Clinic First Home Care Foster Care Service Kimberly D. Lewis, ... Counselor Psychiatric Solutions Inc Medical Clinic Maxine Green Counselor

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Portsmouth
    County
    PORTSMOUTH
    State
    Virginia
    Longitude
    -76.31992
    Latitude
    36.83824

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    FAQs

    What type of property is this?
    Commercial real estate - Large Office Building, 3.5 Acres, Leased
    Where is this commercial real estate located?
    The property is located at 1634 London Blvd Portsmouth, VA.
    What is the asking price?
    The asking price for this property is $2,400,000.
    (757) 484-4400
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    1634 London Blvd Portsmouth, VA 23704
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    Portsmouth, VA 23704
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1634 London Blvd Portsmouth, VA 23704
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