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

    1700 Main St Suffolk, VA 23434

    • Commercial real estate
    • 87.00 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US87-2282387
    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

    • Suffolk Department of Transportation / State Government Office
    • VDOT Suffolk District Office / Corporate Office
    • Transportation Department-Residency / Department Of Transportation

    Property Details for 1700 Main St

    Lot size
    87.00 lot acres
    Property type
    Commercial real estate

    Description

    This exceptional 87-acre commercial land parcel presents a rare redevelopment opportunity in Suffolk, Virginia. Located at 1700 N Main Street (US-460 Business, SR-10, SR-32), this property boasts over 350 feet of frontage on N Main Street and an impressive 4,000+ feet of waterfront access on the navigable Nansemond River, extending to the Chesapeake Bay. The site includes all utilities and features over 30 existing structures totaling more than 150,000 square feet. Currently zoned B-2, this location aligns perfectly with both the Suffolk 2035 and the draft Suffolk 2045 comprehensive plans, which encourage mixed-use development. This unique property offers unparalleled potential for a variety of commercial ventures, capitalizing on its prime location, extensive waterfront access, and significant existing infrastructure. Proposals are due June 20, 2024. A video showcasing the property is available online. Contact us for further details and to discuss this exciting investment opportunity.

    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
    Suffolk
    County
    Suffolk
    State
    Virginia
    Longitude
    -76.5809681
    Latitude
    36.7533859

    Comparable in this City

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      Suffolk, VA Land For Sale

      0.40 acres near Centerpoint Intermodal Truck Terminal.
      40-AC Holland Rd, Suffolk, VA 23434
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    • $1,950,000

      44.2 Acres on Pruden Boulevard

      44.2 acres with road frontage near RT 58 Bypass.
      4441 Pruden Blvd, Suffolk, VA 23434
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    • $200,000
      0.40 Acres

      Suffolk, VA Land For Sale

      0.40 acre land parcel near Centerpoint Intermodal Truck Terminal.
      40-AC Holland Rd, Suffolk, VA 23434
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    • $550,000
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      Suffolk Land with Development Potential

      Expansive land parcel in growing corridor, ideal for redevelopment.
      768 Carolina Rd, Suffolk, VA 23434
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      Land for Sale Suffolk

      Land available for sale in Suffolk, Virginia.
      1340 Carolina Rd, Suffolk, VA 23434
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    • Contact for pricing

      Suffolk Land Parcel For Sale

      Land parcel available in Suffolk, Virginia.
      2333-2345 Pruden Blvd, Suffolk, VA 23434
      View Details

    Similar Nearby for Sale

    • $200,000
      0.40 Acres

      Suffolk, VA Land For Sale

      0.40 acres near Centerpoint Intermodal Truck Terminal.
      40-AC Holland Rd, Suffolk, VA 23434
      View Details
    • $1,950,000

      44.2 Acres on Pruden Boulevard

      44.2 acres with road frontage near RT 58 Bypass.
      4441 Pruden Blvd, Suffolk, VA 23434
      View Details
    • $200,000
      0.40 Acres

      Suffolk, VA Land For Sale

      0.40 acre land parcel near Centerpoint Intermodal Truck Terminal.
      40-AC Holland Rd, Suffolk, VA 23434
      View Details
    • $550,000
      5.32 Acres

      Suffolk Land with Development Potential

      Expansive land parcel in growing corridor, ideal for redevelopment.
      768 Carolina Rd, Suffolk, VA 23434
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    • Contact for pricing

      Land for Sale Suffolk

      Land available for sale in Suffolk, Virginia.
      1340 Carolina Rd, Suffolk, VA 23434
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    • Contact for pricing

      Suffolk Land Parcel For Sale

      Land parcel available in Suffolk, Virginia.
      2333-2345 Pruden Blvd, Suffolk, VA 23434
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    Similar Nearby for Lease

    • Contact for pricing

      Graded Site for Outdoor Storage

      Recently graded site suitable for industrial outdoor storage.
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      13 Acre Stabilized Wareyard

      13-acre stabilized wareyard with shop, office trailer, and security.
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      Land For Rent Near Publix

      Commercial land for rent near Publix and residential area.
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      Industrial Land Available For Lease

      3.6 acres of M-2 zoned land for lease.
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      2,500,000 SF

      Sizeable Land Parcel For Lease

      Large land parcel suitable for industrial development and commercial use.
      Holland Rd, Suffolk, VA 23434
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      900,000 SF

      Virginia Distribution Center: Prime Location

      New 900,000 SF Distribution Center
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    1700 Main St
    Suffolk, VA 23434
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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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