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Property profile & analytics

1003 Washington St Suffolk, VA 23434-6243

  • Commercial real estate
  • 1,517 SF
  • 0.25 lot acres
OFF-MARKET
Last Sale
May 14, 2025
$350,000
Value Estimations
Cap Rate Potential
Location Intelligence
Property ID
US87-2374558
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

  • Commonwealth Insurance Center / Insurance Agency

Property Details for 1003 Washington St

Year built
1974
Lot size
0.25 lot acres
Property size
1,517 SF
Zone code
CENTRAL BUSINESS
Property type
Commercial real estate
APN
34G15(2)*99*100
APU
34G15299100

Description

This exceptional commercial property, situated at 1003 W Washington Street in Suffolk, Virginia's Lakeside area, offers 1,600 square feet of versatile space within a sturdy brick building. The property sits on a 0.25-acre lot and is zoned for commercial use, making it suitable for a wide range of professional businesses. Previously used as both an insurance office and a bank, this building boasts a proven track record of success. The interior layout includes three private offices, perfect for individual practitioners or team members, a spacious lobby area ideal for client interaction, and a large open work area that can be easily adapted to various needs. Additional features include two bathrooms, a convenient kitchenette, and ample storage space to accommodate files, equipment, and supplies. The property also benefits from a generous parking area, ensuring convenient access for clients and employees. Priced at $379,900, this well-maintained building presents a significant opportunity for entrepreneurs and established businesses seeking a prime location in a thriving Suffolk neighborhood. Its history as a successful professional office and bank speaks to its inherent value and potential for future success. The combination of its location, size, and features makes this a truly compelling investment opportunity.


Value Estimations

based on Realmo’s proprietary methodology
  • AI approach

  • CAP approach

  • Comparable approach

  • Alternative Use

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Location Insight

  • Map
  • Local Demand
City
Suffolk
County
Suffolk City
State
Virginia
Longitude
-76.5992
Latitude
36.7306
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
$1,935
$53,300
$108,700
$162,000
-
$53,300
$108,700
$162,000
More about this property
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