Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    1125 Prt Ctr Pkwy Portsmouth, VA 23704-6716
    Property profile & analytics

    1125 Prt Ctr Pkwy, Portsmouth, VA 23704-6716

    View on Map
    • Bars & Pubs
    • 1,271 SF
    • 0.06 lot acres
    Off-Market
    Property ID
    US87-0734812
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Bars & Pubs

    Property Details for 1125 Prt Ctr Pkwy

    Year built
    1910
    Construction
    FRAME
    Lot size
    0.06 lot acres
    Zone code
    IN
    Property type
    Bars & Pubs
    APN
    0023-0750
    APU
    230750

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jul 27, 2011 — Vastardis,john E Living Trust Vastardis,john E Quit Claim Deed · related —

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Portsmouth
    County
    Portsmouth City
    State
    Virginia
    Longitude
    -76.2967
    Latitude
    36.8219
    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
    $1,206
    $20,540
    $62,220
    $82,760
    -
    $20,540
    $62,220
    $82,760

    Comparable in this City

    • Value Estimation by Request
      6,195 SF

      2323 King St

      NIGHTCLUB (COCKTAIL LOUNGE)
      2323 King St, Portsmouth, VA 23704-2927
      View Details
    • Value Estimation by Request
      5,424 SF

      319 High St

      NIGHTCLUB (COCKTAIL LOUNGE)
      319 High St, Portsmouth, VA 23704-3706
      View Details
    • Value Estimation by Request
      1,853 SF

      3125 Elm Ave

      BAR, TAVERN
      3125 Elm Ave, Portsmouth, VA 23704-7020
      View Details
    • Value Estimation by Request
      1,800 SF

      1411 High St

      NIGHTCLUB (COCKTAIL LOUNGE)
      1411 High St, Portsmouth, VA 23704-3207
      View Details
    • Value Estimation by Request
      1,609 SF

      1503 Portsmouth Blvd

      NIGHTCLUB (COCKTAIL LOUNGE)
      1503 Portsmouth Blvd, Portsmouth, VA 23704-6450
      View Details
    • Value Estimation by Request
      6,012 SF

      3209 George Washington Hwy

      BAR, TAVERN
      3209 George Washington Hwy, Portsmouth, VA 23704-6953
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      High-Traffic Car Wash Opportunity

      Car, truck, and dog wash on high-traffic corner lot.
      3600 George Washington Hwy, Portsmouth, VA 23704
      View Details
    • Contact for pricing

      Commercial Land Zoned NMU

      Land ideal for retail, office, or mixed commercial use.
      1609 High St, Portsmouth, VA 23704
      View Details
    • Contact for pricing
      1,100 SF

      Retail Space For Sale

      Retail space with equipment included, lease terms negotiable.
      1124 London Blvd, Portsmouth, VA 23704
      View Details
    • Contact for pricing
      7,323 SF

      Auto Service Facility For Sale

      7,323 SF auto service facility with 6 bays.
      2012 High St, Portsmouth, VA 23704
      View Details
    • $120,000
      1,800 SF

      Portsmouth Duplex with Renovation Potential

      1930s duplex in Portsmouth, ready for transformation and renovation.
      1925 Elm Ave, Portsmouth, VA 23704
      View Details
    • Contact for pricing
      249,991 SF

      Commercial Land Available For Sale

      Large commercial land parcel available for sale.
      1601 Marshall Ave, Portsmouth, VA 23704
      View Details

    Similar Nearby for Lease

    • $2,958 /Mo

      Historic Olde Towne Office/Retail

      Office or retail space in Historic Olde Towne Portsmouth.
      313 High St, Portsmouth, VA 23704
      View Details
    • Contact for pricing
      10,922 SF

      Retail Space in Downtown Portsmouth

      Retail space with high traffic and customer potential.
      714 King St, Portsmouth, VA 23704
      View Details
    • Contact for pricing
      3,645 SF

      Retail Space Near Downtown Tunnel

      Retail space with centralized location and easy highway access.
      670 Lincoln St, Portsmouth, VA 23704
      View Details
    • Contact for pricing

      Retail Space For Lease

      Retail space available for lease in Portsmouth, Virginia.
      1220 High St, Portsmouth, VA 23704
      View Details
    • Contact for pricing
      600 SF

      Downtown Portsmouth Retail Space Available

      Retail space in historic downtown Portsmouth with original high ceilings.
      309 High St, Portsmouth, VA 23704
      View Details
    • Contact for pricing

      Waterfront Office Space Available

      Office space for rent in historic Olde Towne Portsmouth.
      355 Crawford St, Portsmouth, VA 23704
      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.
    1125 Prt Ctr Pkwy
    Portsmouth, VA 23704-6716
    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

    Thank You for Inquiry
    1125 Prt Ctr Pkwy, Portsmouth, VA, 23704
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!