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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    129 Admiral Taussig Blvd Norfolk, VA 23505

    • Distribution centers
    • 18,262 SF
    For Lease
    View listing
    $8 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US87-3392160
    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

    • Wellness Water Filtration Systems / Water Softening Equipment Supplier / Water Filter Supplier

    Property Details for 129 Admiral Taussig Blvd

    Property size
    18,262 SF
    Property type
    Distribution centers

    Description

    This exceptional industrial property, located at 129 E. Admiral Taussig Boulevard in Norfolk, Virginia, offers a significant opportunity for businesses seeking warehouse or distribution space. The property boasts a total of 18,262 square feet, with 14,572 square feet currently available for lease. The building features a desirable 12-foot ceiling height, providing ample vertical space for storage and operations. Two convenient drive-in doors ensure efficient loading and unloading of goods. The property sits on a 0.88-acre lot, offering ample outdoor space for maneuvering and potential expansion. The zoning designation is C-C (Community Commercial), allowing for a variety of uses, including retail, warehouse, and office space. This versatile property is ideally suited for businesses requiring substantial storage capacity and convenient access. The address is in Norfolk County, Virginia, with a zip code of 23505. Multiple tenancy options are available, with spaces ranging in size to accommodate various business needs. The property is situated at 36.9167927 latitude and -76.2706308 longitude.

    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
    Norfolk
    County
    Norfolk
    State
    Virginia
    Longitude
    -76.2706308
    Latitude
    36.9167927

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      Grocery-Anchored Retail Space Available

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      Retail Space in Southern Center

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      High-Visibility Retail Space Available

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      Norfolk Executive Office Space

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    Similar Nearby for Lease

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      DePaul Medical Plaza: Norfolk Office Space

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      View Details
    • Contact for pricing
      54,287 SF

      Glenwood Shoppes: Prime Retail Space

      Grocery-anchored center, Naval Base access.
      8401 Hampton Blvd, Norfolk, VA 23505
      View Details
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      10,000 SF

      Grocery-Anchored Retail Space Available

      Retail spaces available in new Norfolk development near major retailers.
      230 E Little Creek Rd, Norfolk, VA 23505
      View Details
    • Contact for pricing

      Retail Space in Southern Center

      Retail space available in well-leased shopping center near naval station.
      7525 Tidewater Dr, Norfolk, VA 23505
      View Details
    • $15,416 /Mo
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      High-Visibility Retail Space Available

      Prime retail location with ample parking and easy highway access.
      7601 Granby St, Norfolk, VA 23505
      View Details
    • $22 SF/Yr
      19,820 SF

      Norfolk Executive Office Space

      Prime Norfolk location, 2,890 sq ft available
      1355 International Terminal Blvd, Norfolk, VA 23505
      View Details
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    129 Admiral Taussig Blvd
    Norfolk, VA 23505
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    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
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