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    Class A Industrial Flex Development Title is generated by Realmo AI

    521 Woodlake Circle, Chesapeake, VA 23320

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    Scalable Class A industrial space with strong loading, modern systems, and expansion options for yard storage.

    Type:Industrial
    Property size:
    189,000 SF
    Added:
    Jun 2, 2026
    Days on Market:
    2
    Last Refresh:
    Jun 2 at 2:14 am

    Property Features for 521 Woodlake Circle

    General Information

    Standard status
    Active
    Size
    189,000 SF
    Property subtype
    Industrial

    Properties For Sale

    at 521 Woodlake Circle Contact us

    We can help!

    Listing Contact
    David Bickford
    David Bickford

    Listing agent David Bickford

    Listing office Divaris Real Estate - Hampton Roads

    Listing date Jun 2, 2026

    Source Divaris

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

    All listing content including descriptions, pricing, images are the copyrighted material of Divaris Real Estate - Hampton Roads

    HighLights

    • Class A industrial space available from 34,020 to 189,000 SF with 1,500 to 3,000 SF office build‑outs
    • 32’ clear height with 60’ speed bays, ESFR sprinklers, and LED lighting
    • Strong loading capacity: 51 dock doors, 4 drive‑ins, 64 trailer spaces, and 85 vehicle parking spaces
    • Immediate occupancy with Building A completed and Building B delivering soon
    • Expansion/yard storage option: 5+ acres of paved, lit, and fenced outdoor storage or additional parking
    • Direct I‑64 frontage with access to the Port of Virginia, regional military bases, and Downtown Norfolk

    Overview

    Greenbrier Commerce Center is a Class A industrial flex development offering flexible space ranging from 34,020 to 189,000 square feet, including office build-outs of 1,500 to 3,000 square feet. The modern facilities include 32’ clear height, 60’ speed bays, ESFR sprinklers, and LED lighting. Loading is supported by 51 dock doors, 4 drive-ins, 64 trailer spaces, and 85 vehicle parking spaces, with the ability to add 5+ acres of paved, lit, and fenced outdoor storage or additional parking.

    The property is located at 521 Woodlake Circle in Chesapeake, Virginia, with direct I-64 frontage and easy access to the Port of Virginia, regional military bases, and Downtown Norfolk. Access to nearby railroad for cargo shipment adds another logistics channel for distribution and supply-chain tenants.

    With immediate occupancy available and Building A completed while Building B is delivering soon, the center is well suited for warehouse, distribution, and logistics operations that need modern industrial specs, efficient loading configurations, and potential yard expansion. The flexible office component also supports tenants balancing warehouse throughput with on-site administrative and operations space.
    Location Intelligence

    Current Use by Public Records

    Flex space

    Suggested Use

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

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

    Similar Places Nearby

    • Firehouse Subs Crossways Center — 836 Eden Way N Ste 145B, Chesapeake, VA 23320
    • The Bronx Gourmet — PO Box 319, Chesapeake, VA 23320

    Location Insight

    • Map
    • Local Demand
    City
    Chesapeake
    County
    Chesapeake
    State
    Virginia
    Longitude
    -76.241379
    Latitude
    36.784721

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    FAQs

    What type of property is this?
    Flex space - Scalable Class A industrial space with strong loading, modern systems, and expansion options for yard storage.
    Where is this flex space located?
    The property is located at 521 Woodlake Circle Chesapeake, VA.
    What are key features of this property?
    This property features: Class A industrial space available from 34,020 to 189,000 SF with 1,500 to 3,000 SF office build‑outs; 32’ clear height with 60’ speed bays, ESFR sprinklers, and LED lighting; Strong loading capacity: 51 dock doors, 4 drive‑ins, 64 trailer spaces, and 85 vehicle parking spaces
    (757) 873-4700
    We can help!
    Listing Contact
    David Bickford
    David Bickford
    Learn More
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    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.

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