Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    6315 N Center Dr Norfolk, VA 23502

    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    35,092 SF renovated building near Sentara Leigh Hospital.

    Property size:
    35,092 SF
    Lot size:
    28.04 Acres

    Property Features for 6315 N Center Dr

    General Information

    Size
    35,092 SF
    Lot size
    28.04 Acres

    We can help!

    Listing Contact
    Ricky Anderson
    Source: Moodyscre

    Listing Agent: Ricky Anderson

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Renovated Office/Medical Building For Sale

    This newly designed and renovated 35,092 square foot building is suitable for medical or office use. The property has undergone $1.5 million in recent renovations. Situated at the center of Hampton Roads, it is located at the I-64/I-264 interchange. Park amenities include a new gym facility with showers and lockers, an on-site deli, two park conference rooms, and a Bank of America ATM. The property offers excellent visibility from Kempsville Road, with signage opportunities available. It is located within 250 yards of Sentara Leigh Hospital and less than a half mile from the new Sentara Cancer Center on Virginia Beach Boulevard.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Heather Boynton, LCSW Doctor CNY Fertility Norfolk Fertility Clinic Erin Kann, NP Doctor Isabel I. Gill, ... Physical Therapy Clinic Robert Dyer Physical Therapist

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Dental Office Spa & Massage Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

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

    Similar Places Nearby

    Boulevard Veterinary Hospital: Redding Jerry DVM

    Location Insight

    • Map
    • Local Demand
    City
    Norfolk
    County
    Norfolk
    State
    Virginia
    Longitude
    -76.1905319
    Latitude
    36.8474802

    Nearby Similar for Sale

    • $647,400
      4,110 SF

      Versatile Commercial Space in Norfolk

      Flexible commercial space in Norfolk's active Camellia Acres corridor.
      2474 E Little Creek Rd, Norfolk, VA 23518
      View Details
    • $1,395,000
      4,132 SF

      Turnkey Commercial Building in Norfolk

      Renovated commercial building with established tenants, a turnkey business opportunity.
      731 Granby St, Norfolk, VA 23510
      View Details
    • $775,000
      2,000 SF

      Historic Norfolk Property with Restaurant

      Turn-key restaurant and bed & breakfast in historic Norfolk.
      1231 Boissevain Ave, Norfolk, VA 23507
      View Details
    • $665,000
      3,673 SF

      Norfolk Quadruplex with Water Views

      Four-unit property on a quarter-acre lot with water views.
      1607 Lasalle Ave, Norfolk, VA 23509
      View Details
    • $800,000
      4,620 SF

      Turn-Key Church in Norfolk, Virginia

      Well-situated church with ample parking near downtown Norfolk.
      2733 Tidewater Dr, Norfolk, VA 23509
      View Details
    • $740,000
      2,750 SF

      Ocean View Quadplex Multi-Family Residential

      Fully furnished quadplex near the beach in Norfolk, Virginia.
      1427 W Ocean View Ave, Norfolk, VA 23503
      View Details
    • $1,250,000
      6,400 SF

      Downtown Norfolk Restaurant Space Available

      Prime restaurant and bar space in Norfolk's historic district.
      241 Granby St, Norfolk, VA 23510
      View Details
    • $1,500,000
      6,250 SF

      Versatile Commercial Office Building

      Stand-alone commercial building with office, showroom, and light industrial space.
      6024 E Virginia Beach Blvd, Norfolk, VA 23502
      View Details
    • $389,000
      1,708 SF

      Versatile Commercial Property, Norfolk, VA

      Commercial property suited for ghost kitchen, commissary, or food production.
      1512 E Bayview Blvd, Norfolk, VA 23503
      View Details
    • New
      $429,000
      3,984 SF

      Norfolk Warehouse with Residential Potential

      Warehouse in residential area, live where you work opportunity.
      2810 Glen Ave, Norfolk, VA 23513
      View Details
    • $895,000
      2,987 SF

      Norfolk Commercial Property on Little Creek

      Commercial property on heavily traveled road, suitable for retail.
      1501 E Little Creek Rd, Norfolk, VA 23518
      View Details
    • $740,000
      3,000 SF

      Established Ghent Retail Opportunity

      Turn-key retail building with positive cash flow in Ghent.
      421 W 21St St, Norfolk, VA 23517
      View Details

    FAQs

    What type of property is this?
    Medical office - 35,092 SF renovated building near Sentara Leigh Hospital.
    Where is this medical office located?
    The property is located at 6315 N Center Dr Norfolk, VA.
    What are key features of this property?
    This property features: - Newly renovated 35,092 SF building suitable for medical or office use.; - Prime location at the I-64/I-264 interchange in the center of Hampton Roads.; - Significant recent investment of $1.5 million in property renovations.
    (757) 490-3300
    Request Owner's contact information
    6315 N Center Dr Norfolk, VA 23502
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    6315 N Center Dr
    Norfolk, VA 23502
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    6315 N Center Dr Norfolk, VA 23502
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Ricky Anderson
    (757) 490-3300
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.