Property profile

1040 University Blvd Portsmouth, VA 23703

FOR SALE
Office buildings
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Property ID
US87-0909454
63,528 SF 3.45 ac Built 2007
Last sale Oct 2022
Entity Owned Owner of record is a legal entity (LLC / corporation). 4-yr Hold Held for 4 years. Free & Clear No active or open recorded mortgage detected.
Market Trends Soon

Property summary

AI-generated overview

Mast One, located at 1040 University Blvd in Portsmouth, Virginia (zip code 23703), offers premium office space in a vibrant mixed-use development. This Class A building boasts 60,000 square feet of total space, with multiple suites available ranging from a minimum of 2,465 square feet to a maximum contiguous space of 13,255 square feet. Seven individual spaces are currently available, providing flexibility for businesses of various sizes. The building features a distinctive brick exterior…

Ownership intelligence

Who controls the opportunity?

Owner of record from public deeds, plus portfolio, hold profile and investor signals where the data supports them. Included with a plan.

Owner contacts

Can we reach the decision maker?

Skip-traced phones and e-mails of the owner. Included with a plan.

Debts

What is owed, to whom, and when it comes due

Recorded lenders, amounts and estimated maturities of the owner's loan book — included with a plan.

Property tax · 2023

What does the county charge?
$117k
Tax billed · 2023
Assessed value$8.83M
Assessed land$859k
Assessed improvement$7.97M
Effective rate1.32%

Value estimate

· Nov 2026
$11.42M
$10.28M – $12.56M
Submarket $/SF estimate$13.06M
NOI build-up
Gross scheduled income$1.85M
Vacancy & credit loss−$222k
Operating expenses−$408k
NOI · 18.82% cap applied$1.22M

Realmo valuation models over county records.

Recently sold

What actually traded nearby?
$138/SF
Submarket average, outlier-cleaned · 51 recorded sales of this use type
Observed band · Q1–Q3$75 – $206

Cap rate analysis

How does the asset earn?
18.82%
$1.22M estimated NOI · market benchmarks for this use type

Price anchors at 6 / 6.5 / 7% — in the full report.

Zoning insight

What can be built here?
GMU
Window signs located in the NMU, GMU, IN, and WF districts; and if consistent with applicable adopted design standards, window signs loca...
General categoryMIXED_USE
JurisdictionPORTSMOUTH CITY

Location intelligence

Which uses thrive at this corner?
Best fit: Building Supply
Demand heat for this use is drawn on the map · LocInt grid
Demand index
Building Supply34.1
Law Firm25.5
Wholesale Shop25.3

Location

1040 University Blvd Portsmouth, VA 23703
County assessor Recorded deeds · 3 transfers Qualifying comp sales · not on file Zoning catalog

Every figure names its source: public record, benchmark, or modeled. Coverage varies by property — thin data is stated as missing, never invented.

Comparables

5 recorded sales · 15 properties nearby
Recent sales nearby
5 recorded sales in this ZIP, last 8 years
Address Sale price Sold Size
5709 Churchland, Portsmouth, VA 23703-3314 $550,000 Jan 2026 3,233 SF
3415 Mariner, Portsmouth, VA 23703-2312 $465,000 Mar 2025 2,370 SF
3118 Tyre Nck, Portsmouth, VA 23703-4512 $75,000 Jun 2024 1,220 SF
3220 Mariner, Portsmouth, VA 23703-2420 $250,000 Dec 2022 6,075 SF
3200 Tyre Nck, Portsmouth, VA 23703-3329 $590,000 Oct 2021 5,876 SF
Sale prices and dates as our records hold them, one row per building. A deed can cover more of a building than the size shown, so read the price against the size rather than dividing one by the other.
Comparable nearby
6 properties of the same type nearby
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Rey answers here. ChatGPT, Grok and Claude get the same data packet.

Includes: Price & PSF · Cap rate · Location · Zoning

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