Light Industrial Flex
For Sale
Contact for pricing
3303 Airline Boulevard, Portsmouth, VA 23701
A 2002-built flex/industrial property in an M-1 light industrial zoning district.
Property Size3,015 SF
Price / SF$104.48
Days on Market51
Property Features for 3303 Airline Boulevard
General Information
Standard status
Active
Size
3,015 SF
Property subtype
Industrial
Zoning
M-1
Building Details
Year Built
2002
Listing Agency:
Harvey Lindsay Commercial Real Estate
Listed By:
Ryan King · License #VA
Source:
Crexi
Added: Jun 16
Changed: Jul 10
Last Checked: Aug 4 at 1:53PM
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
Investment Insights
Based on property information with market context.
Built in 2002, this light industrial flex property offers a practical combination of industrial and flexible space for users who need a functional footprint within an M-1 setting. The asset is identified as flex space and industrial property type within the available offering details.
Zoned M-1 (Light Industrial), the property is positioned to accommodate light industrial needs under the stated zoning classification. The offering is located at 3303 Airline Boulevard in Portsmouth, VA 23701, providing a convenient, single-property option for buyers evaluating flex and light industrial use cases.
For tenants and owner-users considering operations within light industrial parameters, this property’s age and zoning designation make it a straightforward match to M-1 requirements. As a flex/industrial asset, it may fit a range of business types that benefit from a light industrial framework, subject to confirmation of any specific use requirements and approvals in connection with the intended operation.
Zoned M-1 (Light Industrial), the property is positioned to accommodate light industrial needs under the stated zoning classification. The offering is located at 3303 Airline Boulevard in Portsmouth, VA 23701, providing a convenient, single-property option for buyers evaluating flex and light industrial use cases.
For tenants and owner-users considering operations within light industrial parameters, this property’s age and zoning designation make it a straightforward match to M-1 requirements. As a flex/industrial asset, it may fit a range of business types that benefit from a light industrial framework, subject to confirmation of any specific use requirements and approvals in connection with the intended operation.
Key Highlights
- Built in 2002
- Zoned M‑1 (light industrial)
Financial Insights For Industrial
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 | $26.9k | $8.91 |
| − Vacancy | −$698 | −$0.23 |
| EGI | $26.2k | $8.68 |
| − OpEx | −$7.8k | −$2.60 |
| NOI | $18.3k | $6.07 |
3,015 SF · lease $8.91/SF/yr · vacancy 2.60% · expense 30.00%
Alternative Uses
Best Use
Industrial
$261.7K
$229.0K – $305.3K
NOI $18,316 @ 7.0% cap · market cap 5.81%
Second Best
Flex RnD
$255.1K
$223.2K – $297.6K
NOI $17,857 @ 7.0% cap · market cap 5.67%
Theoretical Best
Office A
$959.9K
$839.9K – $1.12M
NOI $67,191 @ 7.0% cap · market cap 21.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
442
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 23701, VA
24,629
Population
10,318
Households
2.4
Avg Household Size
41
Median Age
23%
College-Educated
90%
High-School Grad
7.7 sq mi
ZIP Area
3,199
Density / Sq Mi
$63,389
Median Household Income
$44,633
Median Earnings
$1,313
Median Rent
$218,900
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - A 2002-built flex/industrial property in an M-1 light industrial zoning district.
Where is this flex space located?
The property is located at 3303 Airline Boulevard Portsmouth, VA.
What is the asking price?
The asking price for this property is $315,000.
What are key features of this property?
This property features: Built in 2002; Zoned M‑1 (light industrial)
