Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    2999 Corporate Ln Suffolk, VA 23434

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Retail space available near Route 58 and Obici Hospital.

    Property size:
    7,400 SF
    Lot size:
    3.92 Acres

    Property Features for 2999 Corporate Ln

    General Information

    Size
    7,400 SF
    Lot size
    3.92 Acres

    We can help!

    Listing Contact
    Chris Rouzie
    Source: Moodyscre

    Listing Agent: Chris Rouzie

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

    Learn more

    Property Insight Report

    Overview

    Retail Space Near Obici Hospital

    This retail space, encompassing 7,400 square feet, is situated in a center adjacent to Obici Hospital, near the Route 10 interchange on Route 58 in Suffolk, VA.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Anytime Fitness Gym & Fitness Center All Kids Dental ... Dental Office Affordable Dentures & Implants Dental Office Oasis Nail Salon ... Nail Salon Faxio Lynne C ... Dental Office

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Suffolk
    County
    Suffolk
    State
    Virginia
    Longitude
    -76.5815007
    Latitude
    36.7784464

    Nearby Similar for Lease

    • Contact for pricing

      Suffolk Medical Office Space Available

      Class A medical office space in a growing Suffolk area.
      3920 Bridge Rd, Suffolk, VA 23435
      View Details
    • $28 SF/Yr

      Medical Office Space Near Hospital

      Class A medical office space near Sentara Obici Hospital.
      2760 Godwin Blvd, Suffolk, VA 23434
      View Details
    • $10 SF/Yr

      Suffolk Industrial Space Available

      60,000 SF industrial space near Port of Virginia.
      1368 Progress Rd, Suffolk, VA 23434
      View Details
    • $10 SF/Yr

      Suffolk Industrial Space Available

      Industrial property in Suffolk, VA, near Port of Virginia.
      1368 Progress Rd, Suffolk, VA 23434
      View Details
    • Contact for pricing

      Retail Space Near Medical Center

      Retail space available in Suffolk, near Bon Secours Medical Center.
      6253 College Dr, Suffolk, VA 23435
      View Details
    • Contact for pricing
      82,847 SF

      Suffolk Retail Center For Lease

      Retail center in a growing Suffolk submarket with high visibility.
      5860 Harbour View Blvd, Suffolk, VA 23435
      View Details
    • $10 SF/Yr

      Suffolk Industrial Space Available

      60,000 SF industrial space near Port of Virginia.
      1368 Progress Rd, Suffolk, VA 23434
      View Details
    • Contact for pricing

      Retail Spaces Available Near I-664

      Retail spaces for lease with high visibility and signage.
      2099 Sun Harbour Ave, Suffolk, VA 23435
      View Details
    • Contact for pricing
      4,751 SF

      Class A Medical Office Space

      Two-story medical office building near Bon Secours Harbour View.
      5838 Harbour View Blvd, Suffolk, VA 23435
      View Details
    • Contact for pricing
      610,525 SF

      Coastal Logistics Center Space Available

      Industrial spaces available near the Port of Virginia.
      150 Judkins Ct, Suffolk, VA 23434
      View Details
    • Contact for pricing
      7,400 SF

      Retail Space Near Obici Hospital

      Retail space available near Route 58 and Obici Hospital.
      2996 Godwin Blvd, Suffolk, VA 23434
      View Details
    • Contact for pricing

      Retail Space in Suffolk, Virginia

      Retail property with diverse tenant mix in Suffolk, Virginia.
      808 N Main St, Suffolk, VA 23434
      View Details

    FAQs

    What type of property is this?
    Retail space - Retail space available near Route 58 and Obici Hospital.
    Where is this retail space located?
    The property is located at 2999 Corporate Ln Suffolk, VA.
    What are key features of this property?
    This property features: - Adjacent to Obici Hospital; - Near Rt. 10 interchange; - Located on Rt. 58
    (757) 869-2309 Call to check price and availability
    Request Owner's contact information
    2999 Corporate Ln Suffolk, VA 23434
    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.
    2999 Corporate Ln
    Suffolk, VA 23434
    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
    2999 Corporate Ln Suffolk, VA 23434
    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!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Chris Rouzie
    (757) 869-2309 (757) 499-2900 (757) 596-2897
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!