Industrial Flex
For Sale
Contact for pricing
827 DOUGLAS AVE, Portsmouth, VA 23707
Large industrial and flex warehouse built for logistics, maritime, defense, and regional distribution users.
Property Size126,000 SF
Price / SF$93.65
Days on Market147
Property Features for 827 DOUGLAS AVE
General Information
Standard status
Active
Size
126,000 SF
Property subtype
Industrial
Zoning
Commercial
Lease Type
NNN
Building Details
Year Built
1910
Units
5
Tenancy
Multi
Listing Agency:
Supreme Real Estate Group
Listed By:
Brett Pyka · License #0225248254
Source:
Crexi
Added: Jun 11
Changed: Oct 25
Last Checked: Nov 3 at 5:11AM
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 Supreme Real Estate Group
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Investment Insights
Based on property information with market context.
827 Douglas Ave in Portsmouth, Virginia is an industrial and flex warehouse property offering a sizeable footprint for distribution, logistics, and light manufacturing operations. The asset is positioned to support a range of industrial and flex users, including owner-occupied companies, logistics providers, regional operators, and eCommerce and fulfillment teams that need operational flexibility.
The property is described as port-adjacent and located near major East Coast logistics, maritime, and defense corridors. It sits within the Hampton Roads market, with access to the Port of Virginia, Portsmouth Marine Terminal, Norfolk Naval Shipyard, and key regional routes including I-264 and I-664.
For buyers evaluating owner-occupant use or industrial investment strategies, this facility’s scale and flex warehouse configuration are intended to accommodate multiple operational profiles, from construction and regional distribution to maritime users, government and defense contractors, and fulfillment-focused operations. Prospective tenants or buyers should consider how the location supports maritime and defense-related activity and how the industrial-flex setup aligns with their space and workflow requirements.
The property is described as port-adjacent and located near major East Coast logistics, maritime, and defense corridors. It sits within the Hampton Roads market, with access to the Port of Virginia, Portsmouth Marine Terminal, Norfolk Naval Shipyard, and key regional routes including I-264 and I-664.
For buyers evaluating owner-occupant use or industrial investment strategies, this facility’s scale and flex warehouse configuration are intended to accommodate multiple operational profiles, from construction and regional distribution to maritime users, government and defense contractors, and fulfillment-focused operations. Prospective tenants or buyers should consider how the location supports maritime and defense-related activity and how the industrial-flex setup aligns with their space and workflow requirements.
Key Highlights
- 827 Douglas Avenue offers 126,000 SF of industrial and flex warehouse space
- Built in 1910
- Port‑adjacent location in Portsmouth, VA with access to Port of Virginia and Portsmouth Marine Terminal
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$929,450
Cap Rate
7.88%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$18,589,000
$18.6M
Cap Rate 7%
$13,277,857
$13.3M
Cap Rate 9%
$10,327,222
$10.3M
Market Conditions
NOI Build-Up for 126,000 SF
Gross rent
$1.12M $8.91/SF
− Vacancy
−$29.2K −$0.23/SF
EGI
$1.09M $8.68/SF
− OpEx
−$164.0K −$1.30/SF
NOI
$929.5K $7.38/SF
Area
Portsmouth County, VA
Vacancy
2.60%
Lease Rate
$8.91 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$18,589,000
Cap Rate 7%
$13,277,857
Cap Rate 9%
$10,327,222
Alternative Uses
Best Use
Warehouse
$13.28M
$11.62M – $15.49M
NOI $929,450 @ 7.0% cap · market cap 7.88%
Second Best
Industrial
$10.93M
$9.57M – $12.76M
NOI $765,430 @ 7.0% cap · market cap 6.49%
Theoretical Best
Office A
$40.11M
$35.10M – $46.80M
NOI $2,807,965 @ 7.0% cap · market cap 23.80%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
769
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 23707, VA
14,316
Population
7,216
Households
2
Avg Household Size
36
Median Age
26%
College-Educated
87%
High-School Grad
3.9 sq mi
ZIP Area
3,671
Density / Sq Mi
$51,070
Median Household Income
$37,932
Median Earnings
$1,076
Median Rent
$222,100
Median Home Value
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Market
Vacancy Rate% for Industrial in South region
Similar Off Market Nearby
- Large Brothers Catering Llc — 3603 High St, Portsmouth, VA 23707
Frequently Asked Questions
What type of property is this?
Flex space - Large industrial and flex warehouse built for logistics, maritime, defense, and regional distribution users.
Where is this flex space located?
The property is located at 827 DOUGLAS AVE Portsmouth, VA.
What is the asking price?
The asking price for this property is $11,800,000.
What are key features of this property?
This property features: 827 Douglas Avenue offers 126,000 SF of industrial and flex warehouse space; Built in 1910; Port‑adjacent location in Portsmouth, VA with access to Port of Virginia and Portsmouth Marine Terminal
