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    1137 Progress Rd Suffolk, VA 23434

    Sponsored
    For Lease
    Contact for pricing

    53,320 SF Manufacturing/Warehouse

    Lot size:
    53,320 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    393
    This exceptional 53,320-square-foot industrial property, located at 1137 Progress Road in Suffolk, Virginia (zip code 23434), presents a significant opportunity for businesses seeking a versatile manufacturing or warehouse space. Built in 1968 and renovated in 1996, the single-tenant building sits on a 5.17-acre lot within the Wilroy Industrial Park, offering convenient access to major transportation routes and the Port of Virginia. The property features a high ceiling ranging from 16 to 19 feet, providing ample vertical space for operations. Three loading docks ensure efficient loading and unloading of goods. The building is currently vacant and ready for immediate occupancy. The property boasts M-2 zoning and substantial power capacity (M-2, Heavy Manufacturing), making it suitable for a wide range of industrial uses. The building's load factor is 3. This prime location and robust infrastructure make this property an ideal choice for businesses seeking to establish or expand their operations in the thriving Suffolk market. The property's size, features, and location combine to offer a compelling investment opportunity. Serious inquiries are encouraged.

    Property Features for 1137 Progress Rd

    General Information

    Property type
    Distribution properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    53,320 SF

    Building Details

    Year Built/Renovated
    1968/1996

    Unit(s) available at that property

    Space
    Size
    53,320 SF

    HighLights

    • 53,320 SF industrial building on 5.17 acres in Suffolk, VA (23434).
    • Built in 1968, renovated in 1996, located in Wilroy Industrial Park.
    • Features 16‑19' clear height ceilings, three 10'x10' loading docks with hydraulic dock plates, and ample parking for 70+ vehicles.
    • Fully sprinklered metal building with heavy power (3‑phase) and M‑2 (Heavy Manufacturing) zoning.
    • Currently vacant and ready for immediate occupancy; price and lease rate are subject to offer.
    Property Profile Location Intelligence

    Current Use by Public Records

    ProAmPac Corporate Office

    Suggested Use

    Realty agency Restaurant Spa & Massage Building Supply Wholesale Shop Accounting Firm Grocery Store Daycare Center Food Market HVAC Service

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

    Location Insight

    • Map
    • Local Demand
    City
    Suffolk
    County
    Suffolk
    State
    Virginia
    Longitude
    -76.5450936
    Latitude
    36.7709633

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    FAQs

    What type of property is this?
    Distribution property - 53,320 SF Manufacturing/Warehouse
    Where is this distribution property located?
    The property is located at 1137 Progress Rd Suffolk, VA.
    What are key features of this property?
    This property features: 53,320 SF industrial building on 5.17 acres in Suffolk, VA (23434).; Built in 1968, renovated in 1996, located in Wilroy Industrial Park.; Features 16-19' clear height ceilings, three 10'x10' loading docks with hydraulic dock plates, and ample parking for 70+ vehicles.
    Request Owner's contact information
    1137 Progress Rd Suffolk, VA 23434
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    Suffolk, VA 23434
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    Realmo Value Estimation

    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.

    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.

    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
    1137 Progress Rd Suffolk, VA 23434
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