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

    3930 Garwood Ave Portsmouth, VA

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Commercial land with easy access and ample parking.

    Type:LAND
    Lot size:
    2.02 Acres
    Added:
    Oct 6, 2023
    Days on Market:
    940
    Last Refresh:
    Apr 5 at 11:23 pm

    Property Features for 3930 Garwood Ave

    General Information

    Standard status
    Active
    Lot size
    2.02 Acres
    Property subtype
    LAND

    Spaces For Lease

    at 3930 Garwood Ave Contact us

    We can help!

    Listing Contact
    Chris Arney
    Chris Arney

    Listing agent Chris Arney License #VA 0225058745

    Listing office The Katsias Company

    Listing date Oct 6, 2023

    Source Moodyscre

    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 The Katsias Company

    Overview

    Commercial Land Near I-264

    This commercial land offers easy access off I-264, located at the Greenwood exit at the intersection of Airline Boulevard. The property benefits from a dense residential market and a heavy retail corridor. It is part of a newly built development, featuring a brand new CVS and a new Food Lion on the property. The site is situated approximately 1/16 of a mile from the Chesapeake line and provides ample parking.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Portsmouth
    County
    Portsmouth
    State
    Virginia
    Longitude
    -76.3805
    Latitude
    36.8031

    Nearby Similar for Lease

    • $2,958/Mo

      Historic Olde Towne Office/Retail

      Office or retail space in Historic Olde Towne Portsmouth.
      313 High St, Portsmouth, VA 23704
      View Details
    • Contact for pricing

      Portsmouth Industrial/Flex Space Available

      58,800 SF industrial/flex space with cranes and easy access.
      4025 Seaboard Court, Portsmouth, VA 23701
      View Details
    • Contact for pricing

      Retail Space in Portsmouth Hub

      Retail space for lease in Portsmouth's vibrant retail hub.
      4020 Victory Boulevard, Portsmouth, VA 23701
      View Details
    • Contact for pricing

      Industrial Flex Office/Warehouse Condo

      Industrial flex office/warehouse condo for lease with warehouse and office space.
      3303 Airline Blvd Ste 3G, Portsmouth, VA 23701
      View Details
    • Contact for pricing

      Waterfront Office Space Available

      Office space for rent in historic Olde Towne Portsmouth.
      355 Crawford Street, Portsmouth, VA 23704
      View Details
    • $12 SF/Yr

      Versatile Industrial/Office Flex Space

      58,800 SF industrial/office flex space with cranes and easy access.
      4025 Seaboard Court, Portsmouth, VA 23701
      View Details
    • Contact for pricing

      Downtown Portsmouth Retail Space Available

      Retail space in historic downtown Portsmouth with original high ceilings.
      309 High Street, Portsmouth, VA 23704
      View Details
    • Contact for pricing

      Retail Space Near I-264

      Retail space for lease with easy highway access and parking.
      3537-3539 Airline Blvd, Portsmouth, VA 23701
      View Details
    • $2,653/Mo

      Office Space Near High Street

      Office space near I-664 with high exposure.
      3300 Tyre Neck Rd, Portsmouth, VA
      View Details
    • $2,167/Mo

      Flex Space with Yard

      Flex space with yard near Norfolk Naval Shipyard.
      1815 County St, Portsmouth, VA
      View Details
    • $1,460/Mo

      Flex Space with Yard

      Flex space with yard near Norfolk Naval Shipyard.
      1821 County St, Portsmouth, VA
      View Details
    • Contact for pricing

      Columbus Ave Land For Lease

      Land available for lease with parking and outside storage.
      1460 Columbus Ave, Portsmouth, VA 23704
      View Details

    FAQs

    What type of property is this?
    Land - Commercial land with easy access and ample parking.
    Where is this land located?
    The property is located at 3930 Garwood Ave Portsmouth, VA.
    What are key features of this property?
    This property features: Easy access off I‑264 at the Greenwood exit.; Located in a dense residential market and heavy retail corridor.; All newly built development.
    (757) 490-3585 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Chris Arney
    Chris Arney
    Real Estate License ID: VA 0225058745
    Learn More
    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

    3930 Garwood Ave, Portsmouth, VA

    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!