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Property profile & analytics
FOR SALE
Office buildings

240 Corporate Blvd Norfolk, VA 23502

94,027 SF 4.9 ac lot Built 1989
Entity Owned 6-yr Hold ~ Est. High Equity
Property ID
US87-3352052
Property summary
AI-generated overview

Riverside Corporate Center offers exceptional Class A office space in the heart of Hampton Roads, Virginia. This single, four-story building boasts 94,027 square feet situated on 4.9 acres of land, providing ample parking and convenient access. Built in 1989, the property features a multiple tenancy structure with flexible suite sizes ranging from 1,000 to 20,000 square feet, catering to diverse business needs. Its prime location at the intersection of I-64 and I-264 ensures effortless commuting for employees and clients. The property benefits from excellent public transportation access, with immediate proximity to The Tide Light Rail at Military Highway Station and an HRT bus stop conveniently located nearby. Businesses will appreciate the abundance of nearby amenities, including a variety of restaurants and retail options. Furthermore, the property's strategic location places it near the Military Circle Mall, currently undergoing a significant mixed-use redevelopment project, promising future growth and enhanced surrounding infrastructure. This presents a unique opportunity to establish a presence in a thriving and dynamic business environment. The building's modern design and convenient location make it an ideal choice for businesses seeking a prestigious and functional workspace. Contact us today to explore available spaces and learn more about this exceptional property.

Property profile
Verified
Property type Office buildings
Use group OFFICE BUILDING (MULTI-STORY)
Year built 1989
Total area 94,027 SF
Lot 4.9 ac (213,488 SF)
Zoning code O-1
APN 36820230
UPID US87-3352052
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
  • AtWork Personnel Employment Agency
  • First Lab Medical Laboratory
  • FHC Health Systems Crisis Center Medical Clinic
  • J L Marshall & Associates Inc Business Management Consultant
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
$21.34M
Comparable Approach Comparable
$25.45M
Blend (final) Blend
$19.40M
Owner & transaction history
Hampton Roads Connector Partners · 6 yrs held
Hampton Roads Connector Partners
since 2019
1 recorded transaction
2019
$13.0M
Zoning & alternative use
O-1 · Norfolk, VA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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