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

    1355 International Terminal Blvd Norfolk, VA 23505

    • Commercial real estate
    • 19,820 SF
    For Lease
    View listing
    $22 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US87-1025538
    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

    • CGI / Information Services / Professional Services
    • ILA Federal Credit Union / Credit Union
    • Port of Hampton Roads Ila CU / Credit Union / Atm
    • HRSA-ILA / Shipping Company

    Property Details for 1355 International Terminal Blvd

    Property size
    19,820 SF
    Property type
    Commercial real estate

    Description

    This exceptional two-story Class B executive office building, totaling 19,820 square feet, presents a fantastic opportunity. Currently, 2,890 square feet of office space is immediately available for lease within this multi-tenant building located at 1355 International Terminal Boulevard, Norfolk, VA 23505. The building boasts abundant parking, a significant advantage in this desirable area. Its strategic location offers unparalleled convenience, situated less than a mile from Interstate access, providing effortless commutes. The property enjoys close proximity to major employers and amenities, including the Norfolk Naval Shipyard, Old Dominion University, Norfolk Naval Station, the Virginia Port Authority, and Sewells Point Golf Course. This prime location within Norfolk County ensures high visibility and accessibility for businesses seeking a prestigious address. The building's 19,820 square feet is spread across two stories, offering a versatile layout adaptable to various business needs. This is an ideal opportunity for businesses seeking a well-located, functional, and readily available office space in a thriving area.

    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
    -76.2982811
    Latitude
    36.9186191

    Comparable in this City

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      Norfolk Office Space for Lease

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      Glenwood Shoppes: Prime Retail Space

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      Grocery-Anchored Retail Space Available

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      Retail Space in Southern Center

      Retail space available in well-leased shopping center near naval station.
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      High-Visibility Retail Space Available

      Prime retail location with ample parking and easy highway access.
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    Similar Nearby for Lease

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      View Details
    • Contact for pricing
      88,666 SF

      Norfolk Office Space for Lease

      Office building near Norfolk Naval Station with flexible floor plan.
      201-205 E Little Creek Rd, Norfolk, VA 23505
      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
    • Contact for pricing
      10,000 SF

      Grocery-Anchored Retail Space Available

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      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
      12,154 SF

      High-Visibility Retail Space Available

      Prime retail location with ample parking and easy highway access.
      7601 Granby St, Norfolk, VA 23505
      View Details
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    1355 International Terminal 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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