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    1945 Northgate Commerce Pkwy Suffolk, VA 23435

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    For Sale
    Contact for pricing

    5.4-acre prime industrial site in VA

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional 5.4-acre industrial land parcel enjoys a premier corner location at the entrance to Northgate Commerce Park in Suffolk, Virginia (zip code 23435), offering significant road frontage on Nansemond Parkway and Northgate Commerce Parkway. Zoned M-2 (Heavy Industrial), this site benefits from its strategic position within the Central Hampton Roads "Beltway" area, boasting some of the lowest drayage rates in the region. The property's proximity to major transportation arteries, including I-64, I-264, US 58, and US 460, ensures seamless logistics. Furthermore, its location is approximately 2.5 miles west of I-664 and roughly 7.5 miles from freight terminals, enhancing its accessibility and operational efficiency. A key advantage is its adjacency to Amazon's substantial 3.8 million-square-foot fulfillment center, underscoring the area's robust industrial activity and growth potential. This institutionally owned land, held by Industrial Realty Group (IRG), presents a rare opportunity for significant industrial development or investment in a thriving market. The price is $375,000 per acre.

    Property Features for 1945 Northgate Commerce Pkwy

    General Information

    Property type
    Land
    Lot Size
    235,224 SF

    HighLights

    • High‑profile corner lot at Northgate Commerce Park entrance, with frontage on Nansemond Parkway and Northgate Commerce Parkway.
    • 5.4‑acre site.
    • M‑2 Industrial zoning.
    • Excellent location in Hampton Roads' "Beltway," offering low drayage rates.
    • Adjacent to a 3.8 million‑square‑foot Amazon fulfillment center.
    • 7.5 miles to freight terminals.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Building Supply Wholesale Shop Auto Repair Shop Hotel & Motel Gym & Fitness Kitchen & Bath Food Market Grocery 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
    -76.469177
    Latitude
    36.817911

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    FAQs

    What type of property is this?
    Land - 5.4-acre prime industrial site in VA
    Where is this land located?
    The property is located at 1945 Northgate Commerce Pkwy Suffolk, VA.
    What are key features of this property?
    This property features: High-profile corner lot at Northgate Commerce Park entrance, with frontage on Nansemond Parkway and Northgate Commerce Parkway.; 5.4-acre site.; M-2 Industrial zoning.
    Request Owner's contact information
    1945 Northgate Commerce Pkwy Suffolk, VA 23435
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    Suffolk, VA 23435
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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
    1945 Northgate Commerce Pkwy Suffolk, VA 23435
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