Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2000 Northgate Commerce Pkwy Suffolk, VA 23435

    • Commercial real estate
    • 88,346 SF
    • 31.49 lot acres
    For Sale
    View listing
    Last Sale
    Mar 19, 2020
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US87-2348766
    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 Cold Storage / Storage Facility / Warehouse & Storage
    • Wanchese Fish Company / Specialty Food Shop / Fish Market

    Property Details for 2000 Northgate Commerce Pkwy

    Year built
    2005
    Lot size
    31.49 lot acres
    Property size
    88,346 SF
    Zone code
    HEAVY INDUSTRIAL
    Property type
    Commercial real estate
    APN
    20*25*1B
    APU
    20251B

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $17,890,000
      6.5%
      $16,515,000
      7%
      $15,335,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $17,669,000
      Market price range: $4.33M - $17.7M

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

    Location Insight

    • Map
    • Local Demand
    City
    Suffolk
    County
    Suffolk City
    State
    Virginia
    Longitude
    -76.4763
    Latitude
    36.8141
    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
    $445,842
    $1,889,400
    $39,013,500
    $40,902,900
    -
    $1,889,400
    $39,013,500
    $40,902,900

    Comparable in this City

    • Value Estimation by Request
      11.83 Acres

      3351 Brg Rd

      COMMERCIAL (GENERAL) • 11.83 Acres
      3351 Brg Rd, Suffolk, VA 23435-1801
      View Details
    • Value Estimation by Request
      0.04 Acres

      6747 Hampton Rds Pkwy

      COMMERCIAL (GENERAL) • 0.04 Acres
      6747 Hampton Rds Pkwy, Suffolk, VA 23435
      View Details
    • Value Estimation by Request
      0.59 Acres

      Lk Vw Pw

      COMMERCIAL (GENERAL) • 0.59 Acres
      Lk Vw Pw, Suffolk, VA 23435
      View Details
    • Value Estimation by Request
      7.21 Acres

      Suffolk, VA 23435

      COMMERCIAL (GENERAL) • 7.21 Acres
      Suffolk, VA 23435
      View Details
    • Value Estimation by Request
      10.63 Acres

      Suffolk, VA 23435

      COMMERCIAL (GENERAL) • 10.63 Acres
      Suffolk, VA 23435
      View Details
    • Value Estimation by Request
      1,008 SF

      5332 Nansemond Pkwy

      COMMERCIAL (GENERAL) • 1,008 SF
      5332 Nansemond Pkwy, Suffolk, VA 23435-2118
      View Details

    Similar Nearby for Sale

    • $149,000
      1.00 Acre

      Suffolk, VA Acreage For Sale

      One-acre residential lot for sale in Suffolk, Virginia.
      4200 John 304362300 St, Suffolk, VA 23435
      View Details
    • $40,000
      0.17 Acres

      Buildable Lot in Suffolk, VA

      Buildable lot in Suffolk near Chesapeake, new construction area.
      54 Clifton St, Suffolk, VA 23435
      View Details
    • Contact for pricing

      Harbour View Development Parcels

      Development parcels for sale, lease, or build-to-suit.
      Harbour Vw Blvd At Harbour Pointe Dr, Suffolk, VA 23435
      View Details
    • Contact for pricing

      Corner Parcel in Northgate Park

      Premier 5.4-acre corner parcel in Northgate Commerce Park.
      1945 Northgate Commerce Pkwy, Suffolk, VA 23435
      View Details
    • Contact for pricing
      9,300 SF

      2.96 Acres Zoned M-2

      2.96 acres of commercial land, zoned M-2, for sale.
      5477 Nansemond Pkwy, Suffolk, VA 23435
      View Details
    • $30,000
      0.16 Acres

      Suffolk, VA Land Opportunity

      Land available in Suffolk, convenient to amenities and military bases.
      83 York St, Suffolk, VA 23435
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      4,751 SF

      Class A Medical Office Space

      Two-story medical office building near Bon Secours Harbour View.
      5838 Harbour View Blvd, Suffolk, VA 23435
      View Details
    • Contact for pricing
      1,188 SF

      Suffolk Mixed-Use Development Space

      Mixed-use development in Harbour View area of Suffolk, Virginia.
      5911 Harbour View Blvd, Suffolk, VA 23435
      View Details
    • Contact for pricing
      3,530 SF

      Retail Space in Bennett's Creek

      Inline retail space available in Suffolk's Bennett's Creek area.
      3217-3219 Bridge Rd, Suffolk, VA 23435
      View Details
    • Contact for pricing
      1,400 SF

      Retail Space on College Drive

      Retail space with direct access and high visibility available now.
      6216 College Dr, Suffolk, VA 23435
      View Details
    • $1.58 SF/Yr
      1,736 SF

      Suffolk, VA M-1 Zoned Property

      M-1 zoned property suitable for versatile development in Suffolk, VA.
      4530 Shoulders Hill Rd, Suffolk, VA 23435
      View Details
    • Contact for pricing
      2,700 SF

      Food Lion Anchored Retail Space

      Retail space in a Food Lion-anchored neighborhood center.
      6550 Hampton Roads Pkwy, Suffolk, VA 23435
      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.
    2000 Northgate Commerce Pkwy
    Suffolk, VA 23435
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!