Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    103 Suffolk Ave Colonial Heights, VA 23834

    • Office buildings
    • 1,232 SF
    • 0.18 lot acres
    OFF-MARKET
    Last Sale
    Feb 05, 2020
    $120,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US87-1665009
    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

    • Office buildings

    Property Details for 103 Suffolk Ave

    Year built
    1920
    Construction
    FRAME
    Lot size
    0.18 lot acres
    Property size
    1,232 SF
    Zone code
    B1
    Property type
    Office buildings
    APN
    41000401041
    APU
    41000401041

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Colonial Heights
    County
    Colonial Heights City
    State
    Virginia
    Longitude
    -77.4102
    Latitude
    37.2472
    CBSA code
    40060
    CBSA name
    RICHMOND, VA 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
    2024
    $2,322
    $138,600
    $54,900
    $193,500
    -
    $138,600
    $54,900
    $193,500

    Comparable in this City

    • Value Estimation
      $570,000
      9,404 SF

      200 Lakeview Ave

      OFFICE BUILDING • 9,404 SF
      200 Lakeview Ave, Colonial Heights, VA 23834-1502
      View Details
    • Value Estimation by Request
      3,462 SF

      512 Blvd Boulevard

      OFFICE BUILDING • 3,462 SF
      512 Blvd Boulevard, Colonial Heights, VA 23834-3743
      View Details
    • Value Estimation
      $900,000
      6,909 SF

      2903 Blvd Boulevard

      OFFICE BUILDING • 6,909 SF
      2903 Blvd Boulevard, Colonial Heights, VA 23834-2401
      View Details
    • Value Estimation
      $935,000
      17,751 SF

      1617 Blvd Boulevard

      OFFICE BUILDING • 17,751 SF
      1617 Blvd Boulevard, Colonial Heights, VA 23834-2329
      View Details
    • Value Estimation by Request
      4,580 SF

      3606 Blvd Boulevard

      OFFICE BUILDING • 4,580 SF
      3606 Blvd Boulevard, Colonial Heights, VA 23834-1341
      View Details
    • Value Estimation
      $1,290,000
      11,030 SF

      320 Charles H Dimmock Pkwy

      OFFICE BUILDING • 11,030 SF
      320 Charles H Dimmock Pkwy, Colonial Heights, VA 23834-2985
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      1.15 Acres

      Prime Chesterfield County Land

      1.15-acre commercial development site.
      16003 Us-1, Colonial Heights, VA 23834
      View Details
    • $980,000

      Industrial Land For Sale

      Land available with utilities and industrial zoning in Chesterfield.
      1951 Ruffin Mill Rd, South Chesterfield, VA 23834
      View Details
    • $1,600,000

      Commercial Land I-95 Access

      Commercial land with easy access to I-95.
      15701 Woods Edge Rd, South Chesterfield, VA 23834
      View Details
    • $65,000
      0.63 Acres

      Residential Lot in South Chesterfield

      0.632 acre lot, ideal for building a home.
      3700 Peach Tree St, South Chesterfield, VA 23834
      View Details
    • Contact for pricing
      0.29 Acres

      Chester, VA Commercial Land Parcels

      Prime Outparcels near I-95, Food Lion anchored.
      15700 Jefferson Davis Hwy, Chester, VA 23834
      View Details
    • $525,000

      Specialty Property For Sale

      Specialty property available for purchase.
      15212 Fairen Ln, South Chesterfield, VA 23834
      View Details

    Similar Nearby for Lease

    • $4,750 /Mo
      2,900 SF

      Medical Office Space Available

      Spacious medical office with multiple exam and office rooms.
      16011 Kairos Rd, South Chesterfield, VA 23834
      View Details
    • Contact for pricing
      4,863 SF

      Southpark Boulevard Retail Space

      Prime Colonial Heights Retail Building - 4,863 SF
      796 Southpark Blvd, Colonial Heights, VA 23834
      View Details
    • Contact for pricing
      4,000 SF

      Flex Space in Colonial Heights

      Well-maintained flex space with ample parking and loading options.
      16037-16047 Continental Blvd, Colonial Heights, VA 23834
      View Details
    • Contact for pricing
      1,600 SF

      Fenced Storage Lot with Office

      Fenced storage lot with I-95 access and small office.
      2300 Indian Hill Rd, South Chesterfield, VA 23834
      View Details
    • Contact for pricing
      10,000 SF

      Retail Space Near I-95

      Retail spaces available with high traffic and easy highway access.
      1829-1865 Southpark Blvd, Colonial Heights, VA 23834
      View Details
    • Contact for pricing
      40,000 SF

      Retail Space Near I-95

      Retail opportunity with high visibility near I-95 in Colonial Heights.
      44-100 Southpark Blvd, Colonial Heights, VA 23834
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    103 Suffolk Ave
    Colonial Heights, VA 23834
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.