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    1945 Northgate Commerce Pkwy Suffolk, VA 23435

    • Commercial land
    • 5.41 lot acres
    For Sale
    View listing
    Value Estimation
    Last Sale
    Jun 09, 2022
    $2,010,000
    Location Intelligence
    Property ID
    US87-2275871
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Commercial land

    Property Details for 1945 Northgate Commerce Pkwy

    Lot size
    5.41 lot acres
    Zone code
    HEAVY INDUSTRIAL
    Property type
    Commercial land
    APN
    20*25*2*A
    APU
    20252A

    Description

    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.

    Value Estimation

    Powered by Realmo proprietary methodology Last update: July 3, 2025

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Suffolk
    County
    Suffolk City
    State
    Virginia
    Longitude
    -76.4692
    Latitude
    36.8179
    CBSA code
    47260
    CBSA name
    VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $4,128
    $378,700
    $0.00
    $378,700
    -
    $378,700
    $0.00
    $378,700

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      VACANT COMMERCIAL LAND • 0.42 Acres
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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
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