Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Corner Parcel in Northgate Park Title is generated by Realmo AI

    1945 Northgate Commerce Pkwy, Suffolk, VA 23435

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    Premier 5.4-acre corner parcel in Northgate Commerce Park.

    Type:Land
    Lot size:
    5.40 Acres
    Added:
    Mar 4, 2025
    Days on Market:
    454
    Last Refresh:
    May 12 at 8:11 pm

    Property Features for 1945 Northgate Commerce Pkwy

    General Information

    Standard status
    Active
    Lot size
    5.40 Acres
    Property subtype
    Land

    We can help!

    Listing Contact
    Charles Dickinson

    Listing agent Charles Dickinson License #VA

    Listing office Harvey Lindsay Commercial Real Estate

    Listing date Mar 4, 2025

    Source Crexi

    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 Harvey Lindsay Commercial Real Estate

    HighLights

    • Premier corner parcel at the entrance of Northgate Commerce Park.
    • M‑2 Industrial Zoning.
    • Central Hampton Roads “Beltway” location with immediate access to I‑64, I‑264, U.S. 58, and U.S. 460.
    • Adjacent to Amazon’s 3.8 million sf Fulfillment Center.
    • Amongst the lowest drayage rates in the region.
    • ± 2.5 Miles west of I‑664 and ± 7.5 Miles to Freight Terminals.

    Overview

    This premier corner parcel is located at the entrance of Northgate Commerce Park, offering road frontage on Nansemond Parkway and Northgate Commerce Parkway. The site encompasses approximately 5.4 acres and is zoned M-2 Industrial. Situated in a central Hampton Roads "Beltway" location, it benefits from some of the region's lowest drayage rates. The property is adjacent to Amazon’s 3.8 million-square-foot Fulfillment Center and is approximately 7.5 miles from freight terminals and 2.5 miles west of I-664, providing immediate access to I-64, I-264, U.S. 58, and U.S. 460. The property is institutionally owned by Industrial Realty Group (IRG).
    Property Profile Location Intelligence

    Current Use by Public Records

    Industrial land

    Suggested Use

    Building Supply Big Box & Wholesale Store Auto Repair Shop Hotel & Motel Gym & Fitness Center Kitchen & Bath Showroom Food Market Grocery & Convenience Store HVAC Service Storage Facility

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

    Location Insight

    • Map
    • Local Demand
    City
    Suffolk
    County
    Suffolk
    State
    Virginia
    Longitude
    -76.4696884
    Latitude
    36.8178894

    Nearby Similar for Sale

    • $350,000
      4,834 SF

      Suffolk Commercial Property For Sale

      Commercial building in historic downtown Suffolk, ready for build-out.
      257 Carolina Avenue, Suffolk, VA 23434
      View Details
    • $600,000
      5,803 SF

      Historic Church in Suffolk, VA

      Two-story brick church with sanctuary, classrooms, offices, and parking.
      1613 Washington Street, Suffolk, VA 23434
      View Details
    • $650,000
      4,865 SF

      Suffolk Commercial Clinic with Apartment

      Landmark clinic with flexible layout and equine amenities.
      2451 Lake Cohoon Road, Suffolk, VA 23434
      View Details
    • $299,900
      1,500 SF

      Versatile Commercial Property in Suffolk

      High-visibility commercial property suitable for retail, office, or automotive businesses.
      400 W Washington Street, Suffolk, VA 23434
      View Details
    • $399,000
      3,283 SF

      Suffolk Commercial Investment Opportunity

      Commercial property near industrial complex in downtown Suffolk, Virginia.
      685 Carolina Road, Suffolk, VA 23434
      View Details
    • $189,900
      7,511 SF

      Suffolk Commercial Land For Sale

      B-1 zoned commercial land with potential for various businesses.
      208 E Pinner Street, Suffolk, VA 23434
      View Details
    • $425,000
      6,336 SF

      Church and Shelter in Suffolk

      Meticulously maintained church with homeless shelter annex for sale.
      132 Bank Street, Suffolk, VA 23434
      View Details
    • $14,000

      Land For Sale, Suffolk, VA

      0.39 acre commercial land available in Suffolk, Virginia.
      HILL STREET, SUFFOLK, VA 23434
      View Details
    • $695,000
      7,800 SF

      Retail/Shop Building on 1.15 Acres

      Retail/shop building on 1.15 acre site for sale.
      1152, 1154 & 1156 Portsmouth Boulevard, Suffolk, VA 23434
      View Details
    • $3,160,000

      37.18 Acres in Suffolk, VA

      37.18 acres of land in a prime Suffolk location.
      909 Murphys Mill Road, Suffolk, VA 23434
      View Details
    • $124,900
      1,088 SF

      Suffolk Industrial Lot For Sale

      M-2 Heavy Industrial lot with road frontage and acreage.
      127 Philhower Drive, Suffolk, VA 23434
      View Details
    • $12,000

      Suffolk, VA Vacant Land

      0.24-acre RM-zoned vacant land parcel in growing Suffolk market.
      L. 115 Lee Street, Suffolk, VA 23435
      View Details

    FAQs

    What type of property is this?
    Industrial land - Premier 5.4-acre corner parcel in Northgate Commerce Park.
    Where is this industrial land located?
    The property is located at 1945 Northgate Commerce Pkwy Suffolk, VA.
    What are key features of this property?
    This property features: Premier corner parcel at the entrance of Northgate Commerce Park.; M‑2 Industrial Zoning.; Central Hampton Roads “Beltway” location with immediate access to I‑64, I‑264, U.S. 58, and U.S. 460.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Charles Dickinson
    Real Estate License ID: VA
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry
    1945 Northgate Commerce Pkwy, Suffolk, VA 23435
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!