M-2 Heavy Industrial
127 Philhower Drive Suffolk, VA 23434
For Sale
$124,900
COMMERCIAL - Suffolk, VA
Property Size1,088 SF
Lot Size0.32 Acres
Price / SF$114.80
Days on Market192
Property Features for 127 Philhower Drive
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Zoning
- M-2 COM
- Parking features
- Paved or Surfaced, Off Street
- Standard status
- Active
- Size
- 1,088 SF
- Lot size
- 0.32 Acres
Taxes and HOA fees
- Tax Annual Amount
- 1364
Utilities
- Cooling system
- Wall/Window Unit(s)
Building Details
- Year built
- 1959
- Roof type
- Shingle
Listing Agency:
Rock Steady Group
(757) 538-7500
Listed By:
Matthew Spencer
(757) 374-0707
Added: Jan 16
Changed: Jul 25
Last Checked: Jul 27 at 5:06AM
MLS# 10616679
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Investment Insights
Based on property information with market context.
This M-2 heavy industrial lot offers 107 feet of road frontage and totals 0.32 acres. The site is mostly cleared and was previously used as a residential property with a 2-bedroom, 1-bath house.
The property is located in Suffolk, Virginia near other M-2 industrial properties. It is described as being close to Route 58 and other major interstates and highways, supporting convenient access for industrial-oriented uses.
Based on the listing information, potential uses for the site include storage, trucking, containers, towing, and auto-related activities. Please confirm allowed uses and any requirements with the zoning and city authorities, including inquiries related to residential use.
The property is located in Suffolk, Virginia near other M-2 industrial properties. It is described as being close to Route 58 and other major interstates and highways, supporting convenient access for industrial-oriented uses.
Based on the listing information, potential uses for the site include storage, trucking, containers, towing, and auto-related activities. Please confirm allowed uses and any requirements with the zoning and city authorities, including inquiries related to residential use.
Key Highlights
- M‑2 heavy industrial lot with 107' road frontage and 0.32 acres
- Mostly cleared lot previously used as a 2‑bedroom, 1‑bath residential house
- Potential uses mentioned include storage, trucking, containers, towing, and auto (confirm with zoning/city)
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $21.5k | $19.80 |
| − Vacancy | −$1.4k | −$1.29 |
| EGI | $20.1k | $18.51 |
| − OpEx | −$9.1k | −$8.33 |
| NOI | $11.1k | $10.18 |
1,088 SF · lease $19.80/SF/yr · vacancy 6.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$158.3K
$138.5K – $184.6K
NOI $11,078 @ 7.0% cap · market cap 8.87%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$252.1K
$220.6K – $294.1K
NOI $17,648 @ 7.0% cap · market cap 14.13%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Single family properties
FAQs
What type of property is this?
Single family property - Mostly cleared M-2 heavy industrial lot with 107' of road frontage and 0.32 acres in Suffolk, VA.
Where is this single family property located?
The property is located at 127 Philhower Drive Suffolk, VA.
What is the asking price?
The asking price for this property is $124,900.
What are key features of this property?
This property features: M‑2 heavy industrial lot with 107' road frontage and 0.32 acres; Mostly cleared lot previously used as a 2‑bedroom, 1‑bath residential house; Potential uses mentioned include storage, trucking, containers, towing, and auto (confirm with zoning/city)
